How to Retain the Textile IndustryGuatemala is losing attractiveness as a destination for investment by Koreans in the textile sector, because of the rise in the cost of labor, decreases in tax benefits, and falling demand from the United States.Tuesday, April 29, 2014
An article on Koreatimes.co.kr reports that for a long time Guatemala has been seen by Korean investors as one of the best countries in which to operate a textile business due to its geographic proximity to the U.S. market and its cheap labor. Source: koreatimes.co.kr ¿Busca soluciones de inteligencia comercial para su empresa?Textile sector: Production Becomes More Expensive in El SalvadorDecember 2017 Salvadoran textile companies state that the costs of labor, security and delivery times have made the sector's operations more expensive. Guatemala: Textile Companies Urge Investment and Employment LawMarch 2015 The guild is once again insisting on the urgency of the government passing the law which grants tax incentives to the maquila industry so that they can remain competitive in the global market. Tax Exemptions to be Replaced with IncentivesFebruary 2012 In Guatemala, in order to meet WTO requirements, exemptions will be eliminated gradually, and instead economic benefits will be awarded. Maquila Heads to Haiti from GuatemalaNovember 2011 Korean owned SAE International has announced it plans to close one its five factories in Guatemala due to a mix of poor sales to the USA and high Guatemalan labor costs.
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