LatinNews Daily - 17 March 2022

In brief: Guatemala’s gov’t announces launch of investment projects

* Guatemala’s economy ministry has announced the launch of six investment and reinvestment projects, which it says are worth a total of US$118.5m and will create some 1,355 jobs. The economy ministry’s national competitiveness programme (Pronacom) said that two of the projects are new investments in the manufacturing sector while four are reinvestment projects in the sectors of tourism, services, food & drink, and energy. Guatemala received US$3bn in foreign direct investment (FDI) last year, according to the government, nearly tripling the US$1.2bn 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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