Government of Guatemala Benefits Over 340,000 MSMEs

The Ministry of Economy reported that 13.8 percent of the benefited businesses belong to the textile and footwear sector.

by Pamela Contreras

Guatemala City, by Brenda Larios -AGN- The current administration through the Ministry of Economy -Mineco- has benefited 340,779 micro, small and medium-sized enterprises -MSMEs- from 2020 to 2023.

The Minister of Economy declared, “During this administration, we have reinforced our support to micro, small, and medium-sized entrepreneurs, exhibiting their products in different national and international events.”

The MSMEs have been supported through programs such as the Sello Blanco, which has displayed national products in several countries, including the United States, the Republic of China (Taiwan), Thailand, and India.

Digitalization Plan

Mineco has enrolled more than 36 000 MSMEs in the Digitalization Plan in four years. It is part of the e-commerce initiative with the U.S. technology company Kolau.

According to the Ministry of Economy, 13.8% of the benefited businesses operate in the textile and footwear sector; 8.2% in the hotel and tourism sector; 6.3% in services such as consulting agencies; and 5.2% in handicrafts.

MSMEs in Guatemala 

The data indicate that the  highest number of registered enterprises are in:

  • Guatemala 19, 881 
  • Quetzaltenango 4,115
  • SacatepĂ©quez 3, 996
  • Alta Verapaz 1,481
  • El Progreso 1,569

The authorities of Mineco have pointed out that this project has a positive repercussion on the country’s economic transformation and that this public-private alliance maximizes opportunities since it raises the country’s profile worldwide.

This program benefits thousands of MSMEs since they can market their products through an efficient and secure tool, which allows them to increase sales and improve their income to enhance their business.

Official data reveal that MSMEs generate 80% of the country’s jobs and contribute 40% of the country’s gross domestic product -GDP-.

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