New Foreign Investment Projected

In Guatemala, it was announced that business groups from Finland, Brazil, Colombia, India and Japan would be interested in investing in the country.

Monday, July 22, 2019

According to the National Competitiveness Program (Pronacom), the new investments that would be made in the country could reach up to $227 million, however, some of the businessmen are still waiting for the results of the second round of elections to decide whether or not to realize their projects.

In the list of possible investors that Pronacom has identified, there is a group from Finland that would be interested in the forestry sector for the exploitation and production of teak. If the investment were made, the group would pay out about $152 million.

The article from details that "... Another Brazilian delegation for the beverage and alcoholic beverages sector has interests of more than US$45 million. As well as a Colombian business group in the unfinished food, snacks and desserts sector for US$30 million."

Regarding the investment of the Colombian business group, Víctor Manuel Asturias, Pronacom's commissioner, explained that "... its objective is to produce in Guatemala and ship to the Central American market."

There are also investors from India who would be interested in investing in the textile sectors, and others from Japan who would invest in agro-industry.

Regarding statistics on foreign direct investment (FDI) in the country, figures from the Bank of Guatemala report a considerable increase between the first quarter of 2018 and the same period of 2019, going from $293 million to $340 million.

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