Guatemala unveils four-year plan to draw US$1.5 billion investment

A four-year plan to attract US$1.5 billion in foreign investment and promote the energy sector was unveiled last week by the Guatemalan government.

Tuesday, May 13, 2008

The plan was unveiled by the National Program for Competition (Pronacom) and the Invest in Guatemala investment agency as part of a national strategy for development. The heads of Pronacom, Julio Héctor Estrada, and Invest in Guatemala, Mario Marroquín, presented the plan.

More on this topic

Guatemala Could Land $2 Billion in Energy Investment

July 2010

Juan Carlos Piaz, Guatemala coordinator of investment and Competitiveness, estimated there are $2 billion in energy investment for the next three years.

He added that $2.5 billon could be in the project pipeline, such as Jaguar Energy’s $700 million plant, and three hydro power plants for over $500 million.

Closures in Guatemala's Industry

August 2009

Lack of security and high energy and logistical costs have caused the closure of 150 industrial companies in the past 5 years.

127 maquila operations have closed since 2005, firing 60.000 people. Pharmaceutics company Sanofi-Aventis sold its assets in Setember 2007, Avon did the same by the end of 2008, and more recently Kellog's announced its decision of closing its industrial operations in the country.

Asian companies mull investment in Guatemala

June 2008

Korean and Taiwanese companies have agreed to study investment opportunities following a visit to Asia by senior officials of the Guatemalan investment promotion agencies, Pronacom and Invest in Guatemala.

The mission was headed by Julio Héctor Estrada, the executive director of Pronacom, and Carlos Diem, Invest in Guatemala's adviser on energy and natural resources.

Guatemala sets sight on US$615 foreign investment this year.

May 2008

Guatemala is aiming to attract US$615 million in foreign investment this year, said Julio Héctor Estrada, executive director of the competition program, Promacom.

The National Program to Promote Competition has set its sights on foreign investment of US$1.5 billion in 2011.

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