The Tax Authority will soon open an office in order to facilitate export procedures for Salvadoran products to Guatemala.
According to an article in Siglo21.com Miguel Gutierrez, head of the Tax Authority of Guatemala (SAT), said "It will be an office that meets the minimum functions. The idea is to provide better service to the priority trading partner that is El Salvador.
Banco Compartamos has announced the start of operations in Guatemala through a new subsidiary.
The offices of Compartamos SA are located in the departments of Quetzaltenango (Coatepeque and Quetzaltenango) Retalhuleu (in the town of the same name) and Suchitepequez (Mazatenango).
With this operation, Compartamos, S.A.B., de CV takes another step in its international expansion.
Language school “Wizard” will open its first center in the country in May; it operates over 2.000 branches around the world.
It teaches English, Spanish, Japanese, Portuguese and Italian, and is planning to expand to Central America from Guatemala.
Luisa Siqueira, director of Wizard International, told newspaper Prensalibre.com that they plan to open three centers in 2010, as they see great potential in language teaching.
The Guatemalan Banking Superintendence authorized the bank to operate as a representative office of HSBC BANK (Panamá) S.A.
Paul Stickland, legal representative of HSBC's Guatemalan office, informed that they will support Guatemalan companies in obtaining access to international markets.
Prensa Libre informs of the comments of Andy Gent, General Director for HSBC Latin America: "Guatemala is the largest country in Central America, therefore opening our representative office here is an important element of HSBC regional strategy".
The Guatemalan companies Consultesa, Aldea Systems, Gysa, Icon, Engaje Byte, Sega, Lankin Tecnologies, and BDG have opened offices abroad.
As noted by Jorge Maldonado, president of the Union for Export Software-Developers (Sofex), the new offices will be located in the United States, Mexico, the Dominican Republic, El Salvador, Honduras, Costa Rica, Panama, and Peru.
Starting January 2009, the corporate offices of Wal-Mart Central America will be set up in Costa Rica.
The Executive Committee of the company will have their headquarters and corporate offices in Costa Rica.
Since 2001, when the alliance between La Fragua Guatemala and the United Supermarkets Corporation of Costa Rica was made, the company has kept the corporate offices of both of the original companies while it continue to integrate them into one regional company.
Sony Inter-American (SIA) has decided to open an office in the country due to the development of the electronics sector in the Guatemalan market.
During an interview with the Prensa Libre daily, Richard Fairest, president of SIA, talked about the reasons for opening offices in the country and about their plans for the future.
Hamburg Süd is one of the key carriers on the North-South trade routes by ocean transportation.
Hamburg Sud Guatemala S.A., with its head office in Guatemala City will be responsible for the group's container shipping activities in Guatemala. The German carrier's long-time partner in Guatemala, Transoceanicas S.A., will continue as partner and port agent in Guatemalan ports.
As a part of its expansion and growth strategy for Central America, the Siman chain of stores opens a new store employing 300 people.
Despite the international economic crisis, the chain of department stores continues its expansion and growth and added the new Siman Oakland store to bring the total number of stores in Central to 10, with 6 in El Salvador, 3 in Guatemala and 1 in Nicaragua.
The supermarket chain, Wal-Mart, plans to continue its expansion and its strategy leans towards attending consumers in the province.
According to Aquileo Sanchez, Communications Director for Wal-Mart Central America, through the rest of 2008 and the beginning of next year, they plan to open between 10 and 15 new stores. Sanchez said that this proposal is a part of a strategy of focusing its objectives on consumers who are looking for basic items at low prices.
Eduardo Meyer, the Speaker of Guatemala's Congress, visited the Bantrab workers' bank to be shown a model of a US$62 million project to build a new home for the legislature.
The project, which consists of nine buildings in three blocks, could be ready for occupation within two years, according to its promoters.
HSBC aims to add Guatemala to its Central America-wide operations from 2009 and sees strong long-term growth in Mexico, the bank's regional president said on Thursday.
Paul Thurston told the Reuters Latin America Investment Summit that HSBC has applied for a banking license in Guatemala and hopes to start operations there next year.
HSBC, one of the world's top banks, in 2006 paid $1.77 billion for Panama's Grupo Banistmo, the biggest banking group in Central America, but was left without a foothold in Guatemala.