The president, Bernardo Arevalo, assured that there are American companies interested in investing in the country. He, however, pointed out that judicial action could be a limitation for such businesses.
“We have already decided the appointment for the month of February, for example, of the business groups of the Atlantic Council who are coming to hold a meeting in Guatemala,” the president reported at an event organized by the Guatemala-American Chamber of Commerce. Mcham)..
He also added that the intention to invest in the country was expressed more than three months ago, but the dialogues can be finalized as long as he is in office.
“As long as we are exercising power we can make these meetings more concrete in nature,” he explained.
However, he cautioned that the rule of law for investment should be certain.
Arevalo warned, “If there is no trust, courts to function impartially, fairly and impartially and not at the service of the highest bidder, no one will put even a cent in our country.”
Further, he added that dialogue is being maintained with North America Vice President Kamala Harris on addressing the structural causes of migration.
“There is a very active dialogue around your initiative to work to address the structural causes of migration and there are ample opportunities for us to work together,” they announced.
Legal framework
During the event, in his speech the President announced that there will be three laws that will be promoted to create a legal framework that encourages investment.
These proposals will be competition law and general investment law, as detailed by the president. In addition, other actions like strategic investment in the well-being of citizens, enhancement of health, quality of educational provision, housing, electrification and access to drinking water will be undertaken.
Without setting aside public investments in infrastructure such as irrigation systems. Arevalo spoke of strengthening the state so that it is more effective and efficient, denying that he suggests developing the capacity to play an active role, to increase its legitimacy and democratic effectiveness, rather than increasing the number of workers.
“A government that no one believes in is worthless,” he said.
He emphasized that trade is a priority on the bilateral agenda and that the Government of Guatemala will play a coordinating and catalytic role in these areas.
Executive actions
Vice President Karin Herrera also participated in the event. It focuses on making the audience aware of the actions proposed in the government plan, emphasizing economic infrastructure, irrigation programs, transport systems, human development and technology.
“We hope that this government plan will give us positive results in public management through achieved results and accountability,” declared the Vice President.
Reconfirm support
Patrick Ventrell, Charge d’Affaires of the US Embassy in Guatemala, also participated. During his speech he indicated that everyone present should feel proud that the President and Vice President assumed office after challenges.
“This is an example of what countries can achieve together,” he highlighted.
He also urged Guatemalans to put aside political differences and unite for the well-being of the country.
“We are committed to working together with the new government, contributing our energy, efforts and resources to build a more just and prosperous Guatemala,” Ventrell commented.
And he emphasized that the dialogues that are taking place with Guatemala regarding trade and investment are also taking place with countries like Mexico, Colombia and Brazil. In that sense, Guatemala is unique in the Central American region.
AmCham’s executive director, Valeska Streckel de Ortiz, highlighted the initiatives proposed by Arevalo and Herrera to promote investment and trade in the region.
“We promote legal certainty as an essential pillar for investment in Guatemala, which is why we reiterate the importance of building institutions that protect and respect the rule of law,” he added.
