Guatemala City, July 21, by Yuliza Muñoz -AGN-. Guatemala continues to experience economic growth. According to the Bank of Guatemala’s -Banguat- first-quarter report, the country received $394.6 million in Foreign Direct Investment -FDI-. In 2022, the first quarter report indicated $303.9 million of FDI, which signals a growth of 30% or $90.7 million for this year.
Sector Classification
The Banguat report details the investment sectors by productive activity:
- Agriculture, livestock, forestry, and fishing: $6.4 million
- Mining and quarrying: $3.8 million
- Manufacturing industries: $58.3 million
- Electricity, water, and sanitation supply: $48.4 million
- Construction: $5.8 million
- Trade and vehicle repair: $129.3 million
- Transportation and storage: $10.9 million
- Hospitality and food service activities: $1.7 million
- Information and communications: $74.8 million
- Financial and insurance activities: $50.7 million
- Other activities: $12 million
Projections
The president of Banguat recently stated that the outlook for 2023 is that the country will generate USD 1.6 billion in FDI and 1.7 billion in 2024. He also explained that through various strategies, Guatemala could potentially attract $3 billion in FDI annually in the coming years.
Attracting Investments
Guatemala has executed different plans within the framework of its investment attraction strategy.
Guatemalan authorities have also participated in international business events in countries such as Spain, the United States, Turkey, India, and the United Arab Emirates. During these working tours, they presented the country’s economic proposal and the advantages it offers.
The main objective of these presentations is to position Guatemala internationally, compete in high-level markets, and demonstrate why it is the most competitive country in the region.
