In the current global economic context, Guatemala presents itself as an attractive destination for foreign investment, especially for multinational companies looking to expand their operations in Latin America.
National Strategy for Attracting Foreign Direct Investment
Through the National Strategy for Attracting Foreign Direct Investment, the Government of Guatemala aims to reach a record figure of $2.7 billion in foreign direct investment over a four-year period. This ambitious goal will be achieved through an economic incentives plan and the integration of global operations with the existing infrastructure in the country.
Growing Sectors and Geographical Proximity
Among the sectors that have shown the most interest are light manufacturing, especially for automotive parts, and the production of electric vehicles. Additionally, the focus will be on attracting investment in industries such as processed food and beverages, apparel and textiles, business services, and back office centers. These sectors not only represent an opportunity for economic growth but also position Guatemala as a strategic hub for the relocation of manufacturing companies from Asia. The geographical proximity to key markets such as the United States, Canada, and Mexico is a determining factor that companies consider when choosing Guatemala as their base of operations.
Competitive Advantages of Guatemala
Guatemala’s geographical location offers a significant competitive advantage. The proximity to the borders of North and Central America facilitates access to one of the largest markets in the world. Additionally, current geopolitical and economic conditions have added value to the country’s positioning as a preferred investment destination.
Simplification of Procedures
The government also intends to implement a plan to simplify the procedures necessary to start operations in the country, including a one-stop shop for formalizing companies and construction permits. This initiative seeks to facilitate the entry of foreign capital and take advantage of the existing infrastructure and local market.
If you need more information on how we can help you establish or expand your operations in Guatemala, do not hesitate to contact us. Auxadi provides accounting, tax, and payroll services in over 50 countries. With 45 years of experience and 1,500 satisfied clients, we are ready to help you. Let us simplify your processes!
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All information contained in this publication is up to date on 2024. This content has been prepared for general guidance on matters of interest only, and does not constitute professional advice. You should not act upon the information contained in this chart without obtaining specific professional advice.No representation or warranty (express or implied) is given as to the accuracy or completeness of the information contained in this content, and, to the extent permitted by law, AUXADI does not accept or assume any liability, responsibility or duty of care for any consequences of you or anyone else acting, or refraining to act, in reliance on the information contained in this chart or for any decision based on it.