Guatemala: Proposal for Investment Promotion Agency

The Government aims to create Proguate, an entity that will focus on attracting foreign investment and implementing a competitiveness strategy.  

Wednesday, February 19, 2014

The Guatemalan government aims to create an agency to promote investment in the country. Proguate will focus on designing a brand for the country in order to attract foreign investment and implement a competitiveness strategy.

"The Guatemalan Institute for Competitiveness, Productivity, Investments, Export and Tourism will group together the strategies that currently are handled by the National Competitiveness Program (Pronacom) and Proinvest".

"Proguate will work with its own budget, estimated at between $12 million and $14 million. These resources come from a contribution of all affiliates to Social Security system, which will be 0.25% of the payroll," said the chief of Economy, Sergio de la Torre.

"Juan Carlos Paiz, Presidential Commissioner for Competitiveness, indicated that the aim is to reach 12 pillars of competitiveness, including infrastructure, education and human capital."

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