Guatemala Registered More than USD 5.7 Million  in Foreign Direct Investment

Guatemala has a Nearshoring strategy.

by Astrid Luna
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Guatemala City, by Julio Morales -AGN- During the current administration, Guatemala has registered more than USD 5.7 million in Foreign Direct Investment as part of the Institutional Strategy for Promoting Foreign and Domestic Investment in Guatemala.

These figures were provided by Guatemalan Government authorities through the Ministry of Economy -Mineco- during the presentation of the Pakka Inc. investment project in Guatemala.

The Minister of Economy stated, “I thank President Alejandro Giammattei because, thanks to his leadership and commitment, he has allowed us to strengthen our economy and competitive climate regionally, great news for the development in Guatemala.”

Nearshoring Strategy 

During the activity, the monetary authorities mentioned that the Nearshoring Strategy and the launching of Guatemala’s economy had produced strong results.

The foreign direct investment resulting from this strategy already exceeds USD 5.7 billion. Between 2022 and the current year, more than 700 foreign companies have been assisted.

The strategy of Guatemala moving Forward regarding the attraction of investments has favored the interest of acquisitions in recent years.

According to the authorities, this translates into  many jobs that  generate better living conditions for Guatemalans.

The company also indicated that these actions promoted by the Government of Guatemala make the country an ideal location for investment.

Investments 

The authorities recalled that there has also been an increase in Tigo Millicom’s investment of approximately USD 500 million.

These actions are also in conjunction with investments made by the automotive components producer Yazaki North America. According to the authorities, it showed  an investment of approximately USD 10 million in the country.

“We have assisted over  600 companies in the last six months and more than 2,500 in the last year and a half. This strategy has placed us on an extensive listing from Taiwan, Saudi Arabia, Qatar, the United States, Central America, and Europe,” stated the Minister of Economy.

Finally, the Minister thanked the President for his work to continue promoting actions to generate investment and bring development to the country.

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