Extortion Stifling Entrepreneurs in Guatemala

Just on the hiring of private security services companies spend $243 million per year, on top of the payments made to those extorting transport carriers on the roads.

Monday, June 23, 2014

These unpunished crimes are not just affecting freight companies operating in the country, but are also increasingly reducing the possibility Guatemala has to attract more and better foreign investment which would contribute to its socioeconomic development.

Carolina Castellanos, executive director of AmCham said in an article on Prensalibre.com that "... Guatemala represents 30% of the region's gross domestic product (GDP), but only gets 9% of foreign direct investment because of crime. "

"... The AmCham member companies have reported that most of the extortion occurring on roads happens in the west and east of the country. "

Thelma Aldana, attorney general and chief of the Public Ministry, explained that "... the most vulnerable routes are Escuintla, Amatitlán and Sacatepéquez, and the sectors most affected by highway robberies are food, industry, agriculture, construction, items for the home and fuel. "

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