Laws on Formalities and Free Trade Zones Approved

In Guatemala were published in the Diario de Centroamerica the sanctions of the laws for the Simplification of Administrative Requirements and Procedures and Free Zones, regulatory frameworks that aim to encourage investments and job creation.

Wednesday, June 2, 2021

In the June 1, 2021 edition of the Diario de Centroamerica, the texts of Decree 5-2021, which corresponds to the Law for the Simplification of Administrative Requirements and Procedures, and Decree 6-2021, which refers to the Free Trade Zones Law, were included. See complete publication.

When referring to the new Free Trade Zones Law, President Giammattei said that "... this type of productive and economic development model encourages investments and the generation of sources of employment."

The President assured that "... in the last two weeks we have heard about the arrival of delegations of foreign investors who visited the country to find out about the requirements and facilities offered by the authorities to transfer their companies' operations to Guatemala."

Regarding the so-called Anti-formality Law, Giammattei highlighted that "... it will facilitate the possibility of digitalization of the services provided by the Government, in such a way that the discretionality of the public official is reduced and we ensure that transparency is more effective."

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