Amcham said that the lack of a clear strategy to attract foreign investment and uncertainty over key issues such as the emergent employment law are causing the country's business climate to deteriorate.
It has been reported that one of the 17 free zones operating in the country has started the process of closing its operations entirely due to the legal uncertainty generated by the emergent employment law.
Companies operating in free zones have spent several months denouncing the serious situation they have faced since the Emergent Act for the Conservation of Employment was implemented, instead of encouraging investment and job creation, it has become a good example of how to discourage investment in a country.
Amcham claims that the political crisis drove away investors who are now considering returning, "convinced that the message of the intention to strengthen the State is true."
Juan Pablo Carrasco, vice president of the Guatemalan Chamber of Commerce (AmCham), told Elperiodico.com.gt that "... An example of (better perceptions) is that on 23 September, a trade mission composed of 12 US franchises come to the country with the idea of settling there, which is a message of confidence to Guatemala and its market. "
Just on the hiring of private security services companies spend $243 million per year, on top of the payments made to those extortingtransport carriers on the roads.
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.
Employers are complaining that the lack of clarity over how the income tax law is applied is generating legal uncertainty.
The law on income tax that arose from the tax reforms two years ago is still raising doubts among private entrepreneurs, who believe that the lack of clarity on how it should be implemented not only casts doubts and causes legal uncertainty, but also generates more informality.
In order to curb smuggling and corruption President Perez Molina has announced that there will be interventions in five of the twelve customs offices in the country .
The customs offices will be taken over by the Executive through the Superintendency of Tax Administration (SAT), a task which will be undertaken by the Guatemalan military. The intervention will focus on Puerto Quetzal , Santo Tomas de Castilla, Aduana Central, San Marcos, and Ciudad Pedro de Alvarado.
The 2013 edition of the Productive Remittances program brings together over 100 local MSMEs to showcase their products to migrants who live in the U.S. and England.
Sales are expected to reach $2 million and $6 million.
Siegfried Lee, Vice Minister of Development of micro, small and medium enterprises, said that during the second edition of the conference entitled 'El Encuentro con el Migrante 2013: Remesas Productivas' involved the "...
Companies use up to 12% of their budgets to provide security for their transportation teams.
In an article in Prensalibre.com, Carolina Castellanos, executive director of AmCham, said that the road blockades are causing uncertainty for companies and that it is impacting on the cost of products, causing them to rise.
The Tax Authority has approved the implementation of a pilot program in customs offices which will reduce the time it takes to inspect containers.
According to the Indendent of Customs, Filadelfo Reyes, the plan will come into effect on August 2. "We want to facilitate foreign trade operations in customs with this new methodology," the official said.
I have six building lots in the Punta Leona Resort ready for construction. I am looking for a partner to provide financing and or construction. Wanted partner for financing and/ or construction in the...
Sustainable 70 Acre Coffee Farm, San Ramon, Costa Rica Coffee Estate, development property with 20 titled lots, ready to develop with roads, water and power. Great Location, close to everything. Ideal area for living or developing an ecologically...
ATS El Salvador is a Customs Agency with 26 years of providing services for imports, exports, transits, consultancies and international transport.
Operates in El Salvador
Phone: (503) 2235 6522 - (503) 2235 6524