The CNE holds a forum on the fundamentals of Guatemalan Competition Law

President Arévalo stated that a Competition Law would contribute to fair and inclusive economic prosperity.

by Astrid Luna
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Guatemala City, by Lincy Rodríguez -AGN- The National Business Council -CNE- held the forum Fundamentals for a Competition Law to strengthen the legal foundation that regulates competitiveness in Guatemala.

The presence of distinguished personalities, including President Bernardo Arévalo de León, the Minister of Economy, Gabriela García; Ernesto Alarcón, President of the Board of Directors of the CNE; and Congressman Samuel Pérez enriched the event’s significance.

The main purpose of this law is to support a fair competition market that protects consumers and prevents anti-competitive practices that may disrupt competition. For economic stakeholders, it means freedom of access to the market and the possibility of competing fairly for customer preference.

Incorporating regulations

With the government of Bernardo Arévalo and Karin Herrera and the start of the 10th Legislature in Congress, the importance of incorporating these regulations into the agenda resurfaced.

Presidential vision 

During the event, President Bernardo Arévalo expressed his confidence in the positive impact that this law could have on institutional development.

He stated, “The success of this law will be an example of what the new Guatemalan government can do to build institutionality, create the conditions for people and businesses to generate prosperity, fairly and inclusively so that society as a whole can achieve higher levels of wellbeing.” 

This vision underscores the government’s commitment to creating an enabling environment for sustainable development.

The Ministry of Economy -Mineco- assumed its role as responsible for promoting investment in the country during the forum. Minister Gabriela García emphasized its commitment to defending the principles of fair competition and promoting a competitive market.

This approach aims to attract investment and ensure an environment where competition is an engine for economic growth.

The forum of the National Business Council marked a significant step in consolidating a Competition Law in Guatemala, with concrete governmental backing and the commitment of several key players in the country’s economic and political scene.

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