Foreign Companies Dont See Guatemala As a Good Place

Amcham said that the lack of a clear strategy to attract foreign investment and uncertainty over key issues such as the emergent employment law are causing the country's business climate to deteriorate.

Monday, June 27, 2016

The views of the main chamber of foreign companies in the country do not coincide with those of Banco de Guatemala, which anticipates growth of 8.5% in foreign investment flows. In the view of Juan Pablo Carrasco, vice president of the Guatemalan Chamber of Commerce (AmCham), "... 'these figures are not realistic." What has happened specifically in the mining sector, with the suspension of seven projects in a week, has affected the investment climate among foreign companies. 

Carrasco told Elperiodico.com.gt that "... 'Since last year we have been warning there would be a decrease resulting from a deterioration in the investment climate. And there have been negative signals from the three branches of government. The Executive and Legislative departments have not promoted nor passed legislation for investment and employment, and the Judiciary has handed out expropriatory sentences. This has caused almost a boycott position on the part of FDI '. "

"... Arturo Soto, president of the Mexican Chamber of Investment and Trade (Camex), believes it is clear that FDI has stalled because they have not taken steps to attract more investment, something that their neighbors have been doing, for example, Oaxaca and Chiapas, which were recently declared areas of economic interest. "



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