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Latin America Investment News on Viva Tropical

Guatemala Ranks Top 10 Dangerous Places to do Business

Article Summary:

Guatemala has done very little to attract foreign investment, says Javier Zepeda Director of the Chamber of Industry of Guatemala (CIG). Despite being the regions largest economy, the country’s outside perception of governmental instability, alongside a high crime rate, have lead to the feeling that Guatemala is not a safe place to entrust your money. “The rate of Doing Business 2011 (World Bank) rated poor in Guatemala in some sectors such as infrastructure, but the most alarming is the cost of security for business because it placed the country among the 10 worst performers in the world”


Photo Credit: Estrategia y Negocios

Original Article Text From Revista Summa via Google Translate :

Guatemala Needs to Work to Attract More Foreign Capital

Despite being the largest economy in the region, Guatemala is a benchmark for attracting foreign capital. The other countries of Central show greater dynamism and agility in attracting foreign direct investment.

In 2010, the country received only $686.8 million, a total of U.S. $3,483 million, which were destined for the Central American nations, according to the World Investment Report 2011, the United Nations Conference on Trade and Development ( UNCTAD, for its acronym in English).

The report placed Costa Rica as the privileged nation attracted U.S. $ 1,413 million in the year cited. Honduras received U.S. $ 797 million, Nicaragua, a country that five years ago was the least attractive to international capital was U.S. $ 508 million. In the bottom left El Salvador with only U.S. $ 78 million.

By the time the end of 2011, the Bank of Guatemala (Banguat) has projected that foreign investment close to U.S. $ 765 million, U.S. $ 78 million more than in the previous period, which seems significant growth.

At the discretion of the executive director of the Chamber of Industry of Guatemala (CIG), Javier Zepeda, the problem of not being very attractive to capital responds to what the Government has not done in the past four years.
“No foreign policy was to attract capital and the issue of security is not achieved concrete results to persuade potential partners that the country is a safe place to entrust your money.”

“The rate of Doing Business 2011 (World Bank) rated poor in Guatemala in some sectors such as infrastructure, but the most alarming is the cost of security for business because it placed the country among the 10 worst performers in the world” , said the analyst of the Association for Research and Social Studies (ASIES), Ruben Dario Narcissus.
There are two elements that attract investment into a country, the expert said, citing the exploitation of natural resources and skilled labor. In the latter case, it appears that is what is most prevalent in the country.

In this respect, the position of the National Competitiveness Program is that despite the international crisis, the inflow of foreign direct investment has grown.

Link to Original Article:

From Revista Summa

Latin America Investment News on Viva Tropical