Guatemala: New Office for Promotion and Investment

The couuntry and its products will be promoted abroad through an agency called 'Guatemala Trade and Invest' (GTI).

Tuesday, July 27, 2010

The new agency replaces the "Invest in Guatemala" office.

Erick Coyoy, minister for the economy, told Jessi Gramajo writing for Sigloxxi that, "the new agency will not only seek to attract investment, it will also aim to encourage trade".

More on this topic

Guatemala Creates Investment Promotion Agency

October 2009

Called "Office for Investment and Commerce", it will be in charge of attracting investments and promoting the country's products.

This agency will unify existing programs like 'International Trade Attaches', 'Invest in Guatemala', 'Pronacom' and the Intelligence Unit of the Economy Ministry. It still needs a Governmental Agreement for operating.

Guatemala: Laws Giving Momentum to Formal Economy

January 2013

Several bills have been prepared on investment and employment, including labor, competitiveness and productivity, industrial property, real estate guarantees, factoring and leasing, among other topics.

A statement from the Ministry of Economy reads:

This morning the President, Otto Perez Molina, presented to the Congress: 3 new laws, 2 reforms and 4 initiatives, which have been favorable received, in order to encourage and facilitate the generation of formal employment in Guatemala.

Guatemala: Unification of Investment Promotion

September 2016

Before the end of the year a government agreement could be ready which would unify the various departments for promoting investment as well as the creation of the Guatemala Trade and Investment entity. reports that "...Rubén Morales, economy minister, said the goal is to manage this body through an executive committee made up of representatives from the public and private sectors, and which would be chaired by the Minister of Economy."

The Business Climate in Guatemala

April 2012

About 16 reforms have been made, driven by a need to improve the environment for doing business in the country.

Two major reforms reported by the Government to the World Bank in preparation for the next Doing Business ranking are the modification of procedures for paying income tax (Tax Law Update) and installation of an electronic payments system for Social Security Institute (IGSS in Spanish) payments.

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