Guatemalan Authorities Present the Country as an Attractive Investment Destination in China (Taiwan)

The President's official visit to the Republic of China (Taiwan) is expected to provide positive news to Guatemala regarding national economic development.

by Domenika Reyes
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Guatemala City, by Veylin Herrera -AGN- Guatemalan officials and delegates in the Republic of China (Taiwan) participated in the Seminar on Trade and Investment Opportunities in Guatemala.

According to the authorities, this seminar seeks to bring Taiwanese companies closer to the Guatemalan investment market.

It also offers an opportunity for attendees to learn about the country’s work, its growth opportunities, and the advantages of working together.

The Minister of Economy, the Minister of Foreign Affairs, the Minister of Finance, and the President of the Bank of Guatemala participated in the seminar at the presentation session, explaining Guatemala’s business investment opportunities.

These activities are part of the work agenda of President Alejandro Giammattei and his delegation in China (Taiwan.)

More Details 

As part of the seminar, authorities from the Republic of China (Taiwan) invited local manufacturers to learn about operation processes in Guatemala.

This provides an opportunity for stakeholders to continue to build further bilateral economic cooperation ties in the future.

Guatemala’s authorities are able to promote the advantages of the industry and investment so that national efforts for economic activation are recognized internationally.

At the end of the official visit, there are expectations of a positive outcome for Guatemala regarding the country’s economic development.

Opportunities 

In his speech during the seminar, Guatemala’s Minister of Economy underscored the government’s efforts to make the country an ideal investment destination.

He emphasized the importance of nearshoring as an opportunity to attract foreign investors and capital into the country.

He also stated that countries like the United States are already investing in Guatemala with the nearshoring strategy.

As a significant fact, in 2022, more than USD 1.3 billion in foreign direct investment and more than 50,000 jobs were created.

Additionally, the minister emphasized that there were USD 6.1 billion in secured investment for the 2020-2022 term and the business consolidation with 75 international firms.

New Developments

The Ministry of Economy added that the country has been working on e-government innovations such as the One-Stop Window for Investments and the One-Stop Window for Foreign Trade.

These developments  represent a new beginning to facilitating import and export processes and centralizing the attention of investment projects in the country.

He pointed out that a fundamental factor for investment attraction was the 4% gross domestic product growth in 2022 and a 3.5% growth projection for this year, also an investment target of US$1.7 billion for 2023.

Work Agenda

For the second day of work, President Giammattei will participate in the following activities to strengthen bilateral relations between Guatemala and the Republic of China (Taiwan):

  • Welcoming ceremony with military honors 
  • Speech of the President of Guatemala at the Legislative Yuan and reception of the Honorary Medal for Parliamentary Diplomacy. 
  • Meeting with Her Excellency Dr. Tsai Ing-wen, President of the Republic of China (Taiwan).

Finally, the two presidents are expected to send a message to the national and international media about the support between the two nations.

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