The impact of the economic crisis in the United States has had on the textile industry has forced 15 Korean businesses to shut down operations in the country.
Currently there are 158 factories in the country, of which 92 are Korean, 55 Guatemalan, 10 American, and 1 French, according to data from the Clothing and Textile Commission (Vestex).
Reporter Louisa Reynolds writes for Elperiodico.com.gt: “Between 2005 and 2008 127 companies have closed down and clothing exports have been reduced from $447 million in the first four months of 2008 to $305 million in the same period in 2009, for a contraction of 31.8%.”
Seven strategies that, applying Darwinian maxims, Guatemalan businesses are implementing in order to overcome these times of crisis.
An article by Louisa Reynolds in Elperiodico.com.gt details different strategies that Guatemalan entrepreneurs are carrying out in trying to be more creative in order to take advantage of any new opportunities that may arise.
The Guatemalan El Porvenir Cooperative, took first place at the 2009 contest of the Japanese Distributor Tully's Coffee.
Louisa Reynolds wrote in Elperiodico.gt.com: "Second and third place were awarded to the Nuevo Sendero and La Felicidad of Santa Rosa and Jutiapa Cooperatives respectively. Tully's Coffee will buy coffee from all the participating cooperatives at a better price than is currently listed on the commodities market ($117 per gold quintal). The cooperatives that took first and second place will be paid $210 and $155 per gold quintal respectively.
The Ciudad LuzMazatenango project began in March 2008, and covers one million square meters; it is expected to be completed by the end of 2010.
Louisa Reynolds, writes in an article on elPeriodico.com.gt: "...this new housing complex will hav 460 businesses, a hospital with over 400 beds, at which the private sector will subsidize free care, and several high schools will offer scholarships to students with limited resources.
Poor roads and complex bureaucracy reduce the markets in Central American cities.
The term “local market” was created in China to refer to the consumers which can be reached in eight hours in a truck loaded with products, including all the paperwork necessary.
According to an article by Louisa Reynolds on Elperiodico.com.gt, under this definition, the “local market” of Guatemala City includes San Salvador, but not other important cities like San Pedro Sula and Tegucigalpa (which take 12-14 hours to reach), Managua (18 hours) and San Jose (26 hours).
As part of the Agritrade Platform, Guatemala will participate for the 27th time in PMA Fresh Summit, the most important international trade show and convention of fruits and vegetables in the United States, which will take place at Anaheim Convention Center, California from October 17th to 19th.
METAGRO is a Guatemalan based manufacturer that provides high end solutions of agricultural transport equipment, we are focused on helping customers be more productive as they help to improve the quality of life for people around the world.
Operates in Costa Rica, El Salvador, Guatemala, Honduras, Nicaragua and Panama
Phone: (502) 2383 2720 - (502) 5595 9953