The U.S. International Development Finance Corporation offered a $250 million quota for companies in the country to invest in health sector projects.
Directors of the International Development Finance Corporation (DFC) were the ones who reported last May 11 the existence of these financial resources. The exclusivity of these $250 million for companies in the health sector is due to the current health emergency situation, which derives from the outbreak of covid-19.
The initiatives of Competition, Leasing and the reforms to the General Law of Telecoms are some of the projects that the new administration of Giammattei plans to present to the Congress of Guatemala.
During his inaugural speech, the new president of Guatemala gave the first guidelines in the economic field, highlighting which projects should be streamlined in the Legislative.
During the first semester of the year the country acquired $546 million in Foreign Direct Investment flows, 4.6% less than the $573 million reported in the same period of 2017.
According to the figures of the Banco de Guatemala of the total Foreign Direct Investment (FDI) from January to June of this year, $183 million went to the Trade sector, $97 million to the Manufacturing Industry, $89 million to Banks and insurance companies, $58 million to Telecommunications and $52 million to Electricity.
Amcham said that the lack of a clear strategy to attract foreign investment and uncertainty over key issues such as the emergent employment law are causing the country's business climate to deteriorate.
The views of the main chamber of foreign companies in the country do not coincide with those of Banco de Guatemala, which anticipates growth of 8.5% in foreign investment flows.In the view of Juan Pablo Carrasco, vice president of the Guatemalan Chamber of Commerce (AmCham), "... 'these figures are not realistic."What has happened specifically in the mining sector, with thesuspension of seven projects in a week, has affected the investment climate among foreign companies.
Amcham claims that the political crisis drove away investors who are now considering returning, "convinced that the message of the intention to strengthen the State is true."
Juan Pablo Carrasco, vice president of the Guatemalan Chamber of Commerce (AmCham), told Elperiodico.com.gt that "... An example of (better perceptions) is that on 23 September, a trade mission composed of 12 US franchises come to the country with the idea of settling there, which is a message of confidence to Guatemala and its market. "
Representatives from YooChang Construction announced an agreement to purchase 82% of the shares of the Railroad Development Corporation (RDC), owner of Ferrovías.
The announcement was made by the president of YooChang Construction on a visit to Guatemala, who next week will be holding a meeting with directors of the RDC for the purpose of defining the first payment agreement.
After two years with Álvaro Colom as president, Guatemalan businessmen see little advancement in these two areas.
Entrepreneurs do highlight advances in energy and free trade.
"Juan Pablo Carrasco, president of the Guatemalan-American Chamber of Commerce complains that the country has moved backwards in terms of infrastructure development, and has not been able to tackle the insecurity problem.