Economy deputy Minister Antonio Romero told La República newspaper that in June of this year there were 54 companies showing different degrees of interest in investing, while at present they have grown to 76, with some of them being capable of creating jobs.

According to Romero, Guatemala has an interest in light manufacturing for automotive parts and also in plants to produce electric vehicles.

In recent years, he noted, investments have mostly concentrated in the financial sector, a scenario that is likely to go on.

When explaining what makes Guatemala attractive to foreign eyes, the official explained that one of the reasons is the relocation of manufacturing companies from Asia.

These companies want to get closer to the largest market in the world, which is found in the United States, Canada, Mexico…and Guatemala is very well positioned geographically for this matter, he stressed, adding that his country has become a very desirable place, given its proximity to North America, Central America and beyond.

Romeo, who is in charge of Investment and Competition, highlighted that businessmen would like to see a strengthening of the infrastructure here, a better road network, ports and airports.

The president of the Bank of Guatemala, Álvaro González, stated some time ago that foreign direct investment (FDI) has increased since 2020, with a projected 1.65 billion USD for 2024.

In 2025 the figure would reach 1,85 billion USD, which shows a positive trend but still lags behind the country’s needs, bearing in mind that Costa Rica and the Dominican Republic are already exceeding four billion dollars annually, he said.

Ied/ro/znc