españolHow to Improve Investment PromotionWednesday, July 18, 2018 A bill by the Morales administration in Guatemala proposes creating an agency that would manage issues of commercial promotion, competitiveness, investment attraction and country brand. Representatives from the Ministry of Economy presented in Congress a proposal for a Law to create the Institute for Commercial Promotion, ProGuatemala, which would absorb the functions and staff that at the moment execute the National Program of Competitiveness. Purchase in Energy Market AuthorizedWednesday, July 11, 2018 In El Salvador, Nautilius Inkia, Nautilius Distribution and Nautilus Isthmus have been given approval to acquire the share capital of Nejapa Power Company, Cenérgica and Poliwatt Limitada. From a statement issued by the Superintendency of Competition (SC): Changes in Electronic Tax Stamp ServiceWednesday, July 11, 2018 The tender for the service of electronic tax stamps for containers passing through Guatemalan customs will no longer be carried out, meaning that several companies will be able to offer their services independently. Last June the Superintendency of Tax Administration of Guatemala had convened an informative meeting for companies that were interested in the qualification process to provide the electronic tax stamp service. Green Light for Electronic Money ProviderTuesday, July 3, 2018 The telecommunications company Tigo has received legal backing to operate as the first provider of an electronic money service in El Salvador. The company announced that due to compliance with the requirements required by local law, the Superintendency of the Financial System authorized the operation in the Salvadoran market in accordance with the regulations issued by the Central Reserve Bank. Costa Rica to Issue $4 billion in Foreign MarketsFriday, June 29, 2018 To avoid further pressure on local interest rates, the Ministry of Finance will be considering issuing $1 billion a year in the international market over the next four years. Representatives from the Ministry of Finance confirmed that they are preparing an application to the Legislative Assembly to issue $4 billion in debt securities in the international market. Panama: Business Leaders Question TendersMonday, June 25, 2018 The private sector is demanding that uncertainty be avoided in public procurement processes of national interest, as it only causes international investors to have doubts, affecting the country's legal security. The Cciap states that " ... international public tenders allow for the evaluation of the legal security of a specific place, as they show its performance in terms of transparency, administrative seriousness and institutional strengths. " Customs Union: Good Results, But Improvement Still NeededMonday, June 25, 2018 Reduced times to move goods through customs posts and an increase in bilateral trade are some of the results of the first year of the Customs Union between Guatemala and Honduras. Twelve months after the entry into force of the treaty between the two countries, trade figures have favored the two Central American countries. In 2017, exports from Honduras to Guatemala totaled $384 million, 16% more than in 2016, and sales made from Guatemala to Honduras amounted to $967 million, which is equivalent to a 6% increase. Beer Market Purchase ApprovedTuesday, June 19, 2018 The Superintendence of Competition in El Salvador has given approval for Cervecería Salvadoreña to buy the brands Regia and Suprema and their related assets. From a statement issued by the Superintendency of Competition (SC): Plan to Improve CompetitivenessThursday, June 14, 2018 In Guatemala, the National Competitiveness Policy has come into force, which aims to promote development through 11 economic clusters. The Ministry of Economy reported that the National Competitiveness Policy, which is part of the 2018-2032 period, will focus on " ... the 11 clusters chosen from a list of 25 that had been previously identified, those being: forestry, fruits and vegetables, processed foods, beverages, textile clothing and footwear, metalworking, light manufacturing, tourism and health services, TIC's software & Contact Centers, transport and logistics, construction." Panama and Colombia Try to Resolve Tariff DisputeWednesday, June 20, 2018 The business associations of both countries started working on a joint plan to solve a problem that has been causing them damage for the last six years. Representatives from the Chamber of Commerce, Industries and Agriculture of Panama (Cciap) and members of the Chamber of Commerce of Bogotá, initiated talks to develop a joint plan to end the conflict that has affected them since 2012. $28 million Backing for AgricultureMonday, June 18, 2018 The Comptroller General of Panama has approved a contract to finance the first part of the Agricultural Master Plan in the Western Region, whose funds will be invested in the next two years. The plan, which in its first stage will be executed in seven components, consists of the improvement of productive infrastructure, acquisition of equipment and supplies and management of the water resource. Guatemalan Telephone Market FiguresTuesday, June 19, 2018 Between 2016 and 2017, the country registered a 9% increase in the number of lines in operation, rising from 18.2 million to 19.9 million. According to figures from the Superintendency of Telecommunications (SIT), the number of prepaid mobile phone lines also registered an increase of 9%, rising from 17.2 million in 2016 to 18.8 million at the end of 2017. New Low Cost Costa Rica - Orlando FlightThursday, June 14, 2018 As of October of this year, Spirit Airlines will start flying four times a week between Juan Santamaría International Airport and Orlando International Airport in the United States. The Costa Rican Tourism Institute announced that flights will now be made four times a week, and as of November 8, the frequency will be daily. New Dominican Republic - Florida FlightFriday, June 15, 2018 Starting this week Jet Blue began operating a daily flight between the Dominican city of Santiago and Fort Lauderdale, Florida, United States. The airline reported that " ... JetBlue will operate its flights between Fort Lauderdale and Santiago using its 150-seat Airbus A320 aircraft. " Banking Sector Questions Exchange RulesThursday, June 7, 2018 Banks in Costa Rica are opposed to the Central Bank's proposal to modify the rules so that entities buy and sell dollars at the same prices, regardless of whether the amounts to be traded are large or small. The objective of the changes proposed by the Central Bank of Costa Rica (BCCR) is for banks to always use the same exchange rate for their purchases and sales of dollars, regardless of whether they are large or small amounts. See "The Same Exchange Rate for Everyone" |
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Friday, July 20, 2018 - last update: 6:10 pm
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