Between 2009 and 2013 the revenues generated by the sector which outsources business services increased from $225 million to $650 million at the end of 2013.
For the development of this industry to continue "... Invest in Guatemala together with other institutions has designed a strategy with a vision for 2020 ", with the aim of achieving, over a period of five years, the generation of $2.3 billion in services and thus contribute 3.57% to the gross domestic product (GDP).
The government is defining areas as economic districts in order to attract investment to municipalities outside of the capital.
In order to generate employment outside of the capital, the government has defined as 'economic districts' areas in the municipalities of San Agustín Acasaguastlán and Guastatoya , El Progreso; Estanzuela, Zacapa; and Masagua, Escuintla.
ProNicaragua, the official investment and export promoter of the Government of Nicaragua, will be organizing the first Central American summit on outsourcingservices entitled 'Central American Nearshore Summit 2013, which will bring together 150 participants from the U.S. and Latin America in this sector.
Plans are underway for an inter urban railway system for Guatemala City, with an estimated investment of between $65 to $125 million.
Carlos Samayoa, Controller at Ferrocarriles de Guatemala (Fegua), explained that the urban railway is a project that consists of a first section going from Centra Norte, Zone 17, to the Central Station, and a second axis to the south, to Justo Rufino Barrios zona 21, but the idea is to expand it to the municipality of Villa Canales.
According to Jian Jun Kang, the company's marketing manager, the intention is to invest in three stages. The first step is to sell their products ranging from high-voltage cables and transformers, to solar panels, the second is to participate in electricity generation, either hydro or solar projects, and the third is set up a manufacturing plant in the country for their products to be exported to the U.S.
The trade missions from India and Korea visiting Guatemala, view the country as an option for locating their base from where they can expand to the entire region.
After selling $25,000 in plastic products to the company Megaplast, the Indian company Family Plastics and Thermoware, hopes that on accepting their products, Guatemalans will acquire molds for manufacturing, according to Haridasan T., export manager of the Indian firm.
With an investment of $20 million, the Korean company Sollensys will install a production plant for screens for Apple, BlackBerry, Samsung, LG and Google Phone.
The investment announced by the Korean company, of between $15 million to $20 million, will be used to open its third factory in the world - the other two are in South Korea and China, said Young Jin Oh, manager of Sollen-Guatemala public relations.
The agency Invest In Guatemala has announced the start of construction of a data center for GBM, an American subsidiary of IBM, with an investment of $70 million.
GBM, a subsidiary of IBM, will lay the foundation stone in March for the construction of a new complex to house a data center in Guatemala, which will enable provision of a ‘cloud computing’ service for Central American companies.
According to the country's agency responsible for encouraging foreign direct investment (FDI), the agro-industrial sector is the most promising and important.
Fanny Estrada, director of the Guatemalan Exporters’ Association (AGEXPORT), commented that in several cases, "while demand exists for a product there is insufficient supply capacity," and added that, "there is potential to increase output in these areas".
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.
The objective is to provide unified direction to the different public and private efforts in trade and investment promotion.
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.
In 2008, 265 million liters of ethanol and alcohol manufactured from sugar cane were exported to Europe and the United States.
Biofuel production generates additional income for sugar producers in Guatemala, which could be a palliative in the face of the economic crisis, according to comments from Fraterno Vila, president of the Sugar Association of Guatemala (ASAZGUA), in an article in Sigloxxi.com.
PRONicaragua, is the Nicaraguan Investment Promotion Agency, established in 2002. We are a non-profit, public-private institution whose mission is to generate economic growth and job creation in Nicaragua by attracting high-quality foreign direct investment. The Agency provides complimentary support services to qualified investors seeking investment opportunities in our country.
Operates in Nicaragua
Phone: (505) 2270 6400
As a Holding Company we are interested in helping other companies to succeed. We do that by investing in other companies with capital and or professional help to allow them to grow in exchange for ownership.
Operates in Panama and Panama
Phone: (507) 7202158
The Central American Business Council is a London-based organisation which is working to increase significantly the current levels of trade and investment between the UK and Central America.
Operates in Costa Rica, El Salvador, Guatemala, Honduras, Nicaragua, Panama, Central America and Dominican Republic
Phone: (0044) 207 583 8739
We service our customers by helping them in all aspects of the process of establishing businesses in CA also we provide them with business opportunities in the Financial, Comercial and Real estate sectors.
Operates in Costa Rica
Phone: (506) 2272 9650 - (506) 8845 5439