The Guatemalan State is proposing to boost oil extraction by creating an agency independent of the Ministry of Energy and Mines.
Keeping in mind the model followed by Colombia, "the Ministry of Energy and Mines (MEM) wants to create a National Hydrocarbons Agency, to increase the exploitation of those resources."
"... The last two administrations have raised the possibility of creating entities related to oil exploration.
Social conflict, the political environment and a feeling of insecurity have lead to fewer companies registering while a growing number of established companies disappear.
An article in Prensalibre.com reports that "During the first 20 months of the current administration 8,134 companies have ceased operations, which means that 406 closed per month, and 13 closed per day, according to Companies Registry," while "in the same period, but under the government of Alvaro Colom, the number of companies cancelling registrations was 5,236, about nine a day."
The country's council for development partnerships (Conadie) will be responsible for approving investment and infrastructure projects to be carried out jointly by the government and private sector.
The Ley de Alianzas ("Public Partnerships") law will make it possible for the government to invest jointly with private companies in projects to build roads, shipping terminals, airports, power grid improvements and railways, for example.
The Constitutional Court has unanimously ruled to support the Electoral Supreme Court's refusal to register Sandra Torres to run for the presidency of Guatemala.
The supreme court's decision puts a definitive end to the presidential aspirations of the former wife of President Alvaro Colom, whom she recently divorced in order to try to circumvent the ban on eligibility for the Presidency which the Guatemalan Constitution provides for relatives of the president up to the fourth degree.
Funes and Martinelli have maintained high levels of approval from their countrymen, while Ortega is recovering, Colom and Lobo are still low and Chinchilla is still falling.
With the first few years of presidency behind them, Mauricio Funes and Ricardo Martinelli are the leaders in the area with the most approval from their citizens: The first for having faced difficult opposition, and for his education, personality and charisma.
India opened its first diplomatic headquarters in Central American territory.
he TMinister of State for Foreign Affairs for Latin America from India, E. Ahamed, offered his country's support to the entire Central American region during the opening ceremony.
"Since April 1972, when both countries established diplomatic relations, we have been addressing bilateral issues, for Guatemala’s part this has been conducted at its embassy in Japan, which had a similar disposition to India’s, while New Delhi conducted diplomatic relations from its embassy in Mexico. " from an AFPreview article.
The reason given is that, "political conditions are not right for presenting the tax reforms to congress".
Guatemalan president, Álvaro Colom, had announced that he would present a fiscal reform bill in the first quarter of this year. However, he has since said that political conditions are not favorable for going through with the reforms.
"Though the details of the reform were never revealed, source close to the government were promoting specific taxes for telecommunications and tax exemptions for other sectors," writes Jessica Gramajo for Elperiodico.com.gt. Tax on income was also believed to be under review, as well as certain import duties.
The Salvadoran president has a 72% approval rating, while Martinelli has 65%, Lobo 51%, Chinchilla 45%, Colom 41% and Ortega 40%.
Mauricio Funes, although still in second place in Latin America, falls three percentage points from a previous survey and now has 72% approval rating, topping the list of presidents in Central America with high evaluation.
The review aims at identifying companies taking advantage of exemptions without developing its work within that framework.
President Alvaro Colom said reforms under study would not affect businesses complying with regulations, but "... only those taking inadequate advantage of the exemption ...".
"Laws such as free zones and promotion and development of the textile export industry are the ones governing these business activities,” reported Laprensalibre.com.
The Superintendence of Tax Administration (SAT) estimates that $ 449 million is owed in taxes and $ 256 million in penalties and interest.
However, it clarified that the SAT estimates viable to recover only 10% of that amount, about $ 45 million, through a partial exemption declared by President Alvaro Colom.
The waiver, implemented through the 1946-2011 government decree, grants a 95% exemption for taxpayers who pay their back taxes before March 31, 90% if done in April, 85% between May and June and 75% if between July and August.
Business sectors and unions promote the creation of a formal setting in order to promote "policies of economic and social content."
The representatives belong to the Coordinating Committee of Agricultural, Commercial, Industrial and Financial Associations (CACIF) and leaders from of the Guatemalan Workers Union (UGT).
An article by Byron Dardón of Prensalibre.com collected statements from entrepreneur Philip Bosch, director of the Chamber of Industry of Guatemala, "the council claims to be an interlocutor of the public power, under the principle of society´s participation in matters concerning the public."
The Government passed a decree increasing wages between 13.75% and 14.88%.
Workers in the textile industry should receive 14.88% more salary, while those in other sectors 13.75%.
Alvaro Colom “approved the decree after the National Salary Commission (CNS), composed of businessmen and worker union leaders, failed to reach an agreement during 2010”, explained EFE.
The Official Journal publication´s of the Legislative Decree authorizes the Ministry of Finance to begin issuance.
During the remainder of 2010, the ministry expects to place about $ 37 million "to fund spending regarding effects from storm Agatha and the Pacaya volcano,” wrote Elperiodico.com.
The rest of the issuance will be placed in 2011 and will be used to purchase food and housing, among others.