Foreign investment increases by 19.7% in Guatemala in 2022

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According to the institution of the Ministry of Economy, 125 million dollars of foreign capital arrived in the Central American country in January. 

Guatemala added 243 million dollars in Foreign Direct Investment (FDI) during the first two months of 2022, 19.7% more than in the same period last year, reported last Tuesday the National Competitiveness Program (Pronacom).

According to the institution of the Ministry of Economy, in January, 125 million dollars of foreign capital arrived in the Central American country, while in February there were another 118 million dollars.

According to official figures, the first two months of 2022 were 19.7% higher than the Foreign Direct Investment for the same period in 2021, which amounted to US$203 million.

Pronacom’s general coordinator, Karin de León, explained in a press release that the 243 million dollars in the first two months of this year will generate at least 1,941 new jobs in the Central American country.

“This reflects the opportunities that Guatemala is offering, the confidence that foreign companies have discovered in the country to settle and the public-private work that has been done in the framework of the ‘Guatemala No se Detiene’ project,” she said.

According to the official, a Foreign Direct Investment goal of 1,500 million dollars has been established for 2022.

Foreign resources coming to Guatemala are mainly destined for manufacturing, agribusiness, communications, clothing and textiles, tourism, food, and beverages, among others.

According to Pronacom, the geographic location and the political and economic situation in the world allow the Central American country to attract companies that want to approach its primary markets.

Last year Guatemala set a goal of US$1.2 billion in foreign investment, but it tripled to US$3.422 billion because of the sale of the shares of the Guatemalan partners of the telecommunications company Tigo (Comcel’s trade name) to the Luxembourg-based Millicom for close to US$2.2 billion, according to Pronacom.

Source: Forbes Staff. (2022, March 15). La inversión extranjera aumenta un 19.7 % en Guatemala durante 2022. Forbes Centroamérica. Retrieved March 18, 2022 from https://forbescentroamerica.com/2022/03/15/la-inversion-extranjera-aumenta-un-19-7-en-guatemala-durante-2022/