The business sector is questioning the decision made by the Constitutional Court to suspend the operation of two hydroelectric stations and is asking for decisions to be made based on legal criteria, giving priority to the national interest.
The Constitutional Court has upheld suspension of the license for the Oxec I and II hydroelectric stations, for allegedly failing to consult indigenous peoples in the area before starting the projects.
The decision taken by the Constitutional Court (CC) is seen by the private sector as a threat to legal certainty in the country, because of the projects that are at stake and the effect it will have on other investments that may no longer be made in Guatemala if orders continue to be given to suspend mining and energy projects.
The business sector is against making retroactive consultations on mining and energy projects as they are already under development and is demanding regulation of the implementation of the ILO Convention 169 in order to protect investments.
Five out of ten Guatemalan entrepreneurs believe that the current legal landscape of the country "could have repercussions" for the business sector.
From a statement issued by the Coordinating Committee of Agricultural, Commercial, Industrial and Financial Associations, CACIF:
Industrial and financial sectors are forecasting the best results, while construction and tourism show lags in different variables that are analyzed in the diagnosis of Perception of Business Activities.
The Attorney General has denounced the existence of barriers that prevent white-collar crime and in particular corruption within the state from being pursued effectively.
The authorization from a judge for a case of public documents to be opened as part of an investigation, and the adoption of appeals even when the law states that they are not appropriate, are some of the legal obstacles that delay the processing of cases of white collar crime.
The efforts made by the Ortega administration to attract more foreign investment were noted, but warnings were also give regarding deficiencies in the rule of law and an extensive executive control.
The report"Investment Climate Statements for 2016"prepared by the US State Department details the efforts made by Nicaragua to attract foreign investment by providing tax incentives to productive sectors such as mining and tourism, but also points out some elements that could affect the investment climate in the country, such as weak governmentinstitutions, deficiencies of law and an all-embracing control on the part of the executive branch.
The contract signed with the concessionaire of the next international airport of Honduras establishes that Toncontin must be closed down. "At this moment" they want to change that contract.
In a demonstration of how insecure the signing of contracts for large public works projects can be in some countries on the isthmus, in the view of the government of Honduras "... the vision at this moment is to not close Toncontin and for Palmerola to start operating and look for a project that is feasible and profitable. "
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A General Practice law firm which specializes in Business and Commercial Law as well as Foreign Investment in Costa Rica. Our firm originally established in 1940, currently operates offices in San José and Guanacaste
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