Testimonial
About
The Investment Attraction Roundtable arose from a public-private agreement to articulate combined efforts to foster long-term economic growth and formal employment creation, with an emphasis on two strategies:
01
"Continue doing what we have excelled at," to transform Guatemala into a world-class participant in 20 industrial sectors that already compete in international markets and have the ability to develop and diversify further through an investment attraction plan for export promotion.
02
"Leapfrogging towards more sophisticated sectors," luring foreign investment by leveraging on the "nearshoring" trend in four key industries: pharmaceuticals, medical devices, electronic equipment manufacturing, and business services (BPOs, ITOs and KPOs).
By signing a public/private inter-institutional agreement, the signatory institutions undertake to guarantee that sectoral rules and public policies promote the growth of the various export industries.
In Strategy 1, seminars were performed with entrepreneurs from the 20 prioritized industries to evaluate the markets with the highest potential and suggest triggering measures to improve exports.
Market information, market needs and certifications, product image campaigns, exportable supply, trade promotion, eligibility, logistical alternatives and prices, regulatory framework and public policies, and finance choices were recognized as specific tasks for each industry.
In Strategy 2, the Ministry of Economy is spearheading measures to present Guatemala as an investment destination, with the cooperation of National Competitiveness Program (PRONACOM), the Ministry of Foreign Affairs, the Municipality of Guatemala, the USAID CEO project, Foundation for the Development of Guatemala (FUNDESA), The Guatemalan Exporters Association (AGEXPORT), the Chamber of Industry, and the Bank of Guatemala.
Furthermore, the Private Investment Promotion Agency "Invest Guatemala" was established to assist foreign investors in their decision to invest in Guatemala vs another destination, to advise them on how and where to locate, and to expedite their process of establishing in Guatemalan territory. The Agency also tries to assist Guatemalan businesses in identifying chances for expansion, funding, and access to new markets.
Agreements and Alliances
A.
Interinstitutional Cooperation Agreement for the Implementation (no sé si suene mejor “deployment” porque en español es “despliegue”) of Initiatives to Promote Investment Attraction and Competitiveness in the Country (February 16th, 2021).
B.
Specific Cooperation Agreement between the Municipality of Guatemala and the Foundation for the Development of Guatemala (FUNDESA) for Technical Assistance in the Promotion of Investment and the Use of the Consultancy Product "Defining Infrastructure Strategies, Human Capital, and Legal Certainty to Attract Investments."
Events
- All
- 2021
- 2022
INVEST IN GUATEMALA, NEARSHORING 2021: RETHINKING YOUR SUPPLY CHAINS (2021):
High-level gathering attended by 24 corporations interested in investing in the nation. Conferences, seminars, cultural and networking events were organized during the event.
THE APPAREL AND TEXTILE SUMMIT
This event brought together around 25 foreign capital businesses from the apparel and textile industries to inform them about the competitive advantages that Guatemala provides for supply chain relocation.
INVEST IN GUATEMALA CENTRAL AMERICA’S ECONOMIC ENGINE
Mara Eugenia Tabush met with foreign investors and explained the Guatemala Moving Forward strategy as well as the benefits of investing in the country.
6TH TAIWAN-GUATEMALA JOINT BUSINESS COMMITTEE MEETING
We attended as a speaker, presenting the Guatemala Moving Forward plan and the advantages that Guatemala provides to foreign enterprises interested in pursuing a nearshoring approach.
GUATEMALA INVESTMENT SUMMIT
The country's success in boosting competitiveness was highlighted, as was the relevance of the Guatemala Moving Forward strategy in achieving the government's projected FDI targets.
WEBINARS
During the current year, nine virtual seminars with various nations (Colombia (2), the United States (2), Peru, Taiwan, Canada, Chile, and Israel) were organized to demonstrate the benefits of investing in Guatemala. These have been coordinated in collaboration with the Ministry of Foreign Affairs' Commercial Counselors Network.