LatinNews Daily - 14 February 2022

In brief: Guatemalan gov’t claims rise in FDI

*Guatemala’s economy ministry’s national competitiveness programme (Pronacom) has announced that foreign direct investment (FDI) to the country totalled US$124.88m in January 2022, comprising two new investment projects in the manufacturing sector and four reinvestment projects in agro-industry and manufacturing. Pronacom said that this would generate over 586 new jobs for Guatemalans. Last month President Alejandro Giammattei said that Guatemala had received US$3bn in foreign direct investment (FDI) last year, nearly tripling the US$1.2bn goal forecast for 2021. The increase was mainly due to the acquisition in November 2021 by Luxembourg-based telecoms and media group Millicom of its venture partner Tigo Guatemala for US$2.2bn – the largest ever single foreign investment in Guatemala. Guatemala received US$905.5m in FDI in 2020; US$974.7m in 2019 and US$980.7m in 2018.

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