Guatemala: Investment Coordination Entity
The objective is to provide unified direction to the different public and private efforts in trade and investment promotion.
Wednesday, August 12, 2009
The new entity could be named Guatemala Trade and Investment (GTI), and would coordinate the activities of Invest in Guatemala, the national competitiveness program (PRONACOM), and the Commercial Attachés (PACIT), through an executive committee composed by members of the public and private sector.
A four-year plan to attract US$1.5 billion in foreign investment and promote the energy sector was unveiled last week by the Guatemalan government.
According to the country's agency responsible for encouraging foreign direct investment (FDI), the agro-industrial sector is the most promising and important.
Guatemala is aiming to attract US$615 million in foreign investment this year, said Julio Héctor Estrada, executive director of the competition program, Promacom.
Korean and Taiwanese companies have agreed to study investment opportunities following a visit to Asia by senior officials of the Guatemalan investment promotion agencies, Pronacom and Invest in Guatemala.
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