Guatemala : Investment Climate Assessment, Volume 1
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Washington, DC
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Guatemala has achieved substantial
progress in improving its investment climate since 2004.
Despite these achievements, Guatemala continues to face
significant challenges. Guatemala's overall ease of
doing business ranking is still relatively low-114th out of
178 countries, and it falls well behind the rankings of
comparator countries such as El Salvador (69), Nicaragua
(93), and Panama (65). Economic growth in Guatemala over the
past 25 years has been very modest, even by Latin American
standards. Productivity and export growth has been
disappointing. The Central America Free Trade Agreement
(CAFTA) brings new opportunities as well as competitive
pressures. To be competitive, Guatemala needs to
aggressively tackle reforms in three main areas:
infrastructure, governance, and access to finance. Reforms
in these areas, as well as other targeted initiatives, will
better position Guatemala to take advantage of CAFTA. The
Government should also build on what has been working in
trade promotion. Road, port, and airport quality could all
be improved, with private sector participation playing a key
role. Electricity subsidies should be targeted in a more
efficient manner and the social tariff system should be
reconsidered. More effective mechanisms to promote
investments in renewable energy should be adopted. Guatemala
should continue reforming its regulation of private business
activity-especially in firm registration, construction
permits, and tax and customs administration. The government
should attack corruption directly. Concerted, long-term
effort is needed to strengthen contract enforcement and the
judiciary. To lower crime, the strategy should be to
emphasize preventive measures and support greater police
enforcement. The growth of commercially oriented
microfinance institutions (MFIs) should be promoted through
an adequate regulatory and supervisory framework. Accounting
and auditing practices, financial information
infrastructure, and regulatory norms for movable collateral
should be strengthened.
Palabras clave
ACCESS TO CREDIT, ACCESS TO FINANCING, ACCOUNTING, AGRICULTURAL COMMODITIES, AGRICULTURE, ANNUAL CONTRIBUTION, AVERAGE GROWTH, AVERAGE PRODUCTIVITY, BANKING SECTORS, BENCHMARK, BENCHMARKING, BENCHMARKS, BENEFICIARIES, BILATERAL TRADE, BUSINESS CLIMATE, BUSINESS ENVIRONMENT, CALCULATIONS, CAPITAL ACCUMULATION, CAPITAL INFLOWS, CAPITAL MARKETS, CASH TRANSFERS, COLLATERAL, COMMODITIES, COMMUNICATIONS TECHNOLOGIES, COMPARATIVE ADVANTAGE, COMPETITIVE ADVANTAGE, COMPETITIVE ADVANTAGES, COMPETITIVENESS, CONSUMER GOODS, CONSUMERS, CONTRACT ENFORCEMENT, CONTRIBUTION, CORPORATE GOVERNANCE, CORPORATE SOCIAL RESPONSIBILITY, CREDIT BUREAUS, CREDIT GROWTH, CREDIT LINE, CREDITOR, CREDITOR RIGHTS, CURRENCY REGULATIONS, DEBT, DEBTORS, DEFICITS, DEMAND FOR CREDIT, DEVELOPMENT STRATEGY, DIRECT COST, DISPUTE RESOLUTION, DOMESTIC CREDIT, DOMESTIC ECONOMIES, DOMESTIC MARKET, EARNINGS, ECONOMETRIC ANALYSIS, ECONOMIC ACTIVITY, ECONOMIC COOPERATION, ECONOMIC DEVELOPMENT, ECONOMIC GROWTH, ECONOMIC INTEGRATION, ECONOMIC MANAGEMENT, ELECTRONIC SIGNATURES, ENFORCEMENT POWER, EQUIPMENT, EXPENDITURE, EXPORT GROWTH, EXPORT MARKET, EXPORT MARKETS, EXPORT PERFORMANCE, EXPORTER, EXPORTERS, EXPORTS, EXPROPRIATION, EXTERNAL FINANCING, EXTERNAL TRADE, FINANCIAL BENEFITS, FINANCIAL FLOWS, FINANCIAL INFORMATION, FINANCIAL INFORMATION INFRASTRUCTURE, FINANCIAL SECTOR, FINANCIAL SERVICES, FINANCIAL SITUATION, FIRM PERFORMANCE, FISCAL MANAGEMENT, FOOD PRICE, FOOD PRICES, FORECASTS, FOREIGN COMPANIES, FOREIGN CURRENCY, FOREIGN DIRECT INVESTMENT, FOREIGN EXCHANGE, FOREIGN INVESTORS, FOREIGN MARKETS, FOREIGN PENETRATION, FREE TRADE, FREE TRADE AGREEMENT, FREE TRADE AGREEMENTS, GDP, GENERAL SYSTEM OF PREFERENCES, GOVERNANCE INDICATORS, GOVERNANCE ISSUES, GOVERNANCE REGULATION, GOVERNMENT REGULATION, GOVERNMENT REGULATIONS, GROSS DOMESTIC PRODUCT, GROSS VALUE, GROUP OF INVESTORS, GROWTH RATE, GROWTH RATES, HUMAN CAPITAL, ILLITERACY, INFRASTRUCTURE INVESTMENTS, INSOLVENCY PROCEEDINGS, INSTRUMENT, INTEREST RATE, INTERNATIONAL BEST PRACTICES, INTERNATIONAL COMMERCE, INTERNATIONAL INVESTMENT, INTERNATIONAL INVESTORS, INTERNATIONAL MARKETS, INTERNATIONAL PRICES, INTERNATIONAL STANDARDS, INTERNATIONAL TRADE, INVESTING, INVESTMENT CLIMATE, INVESTMENT CLIMATE ASSESSMENT, INVESTMENT DECISIONS, INVESTMENT OPPORTUNITIES, INVESTMENT PATTERNS, INVESTMENT STRATEGIES, ITC, JUDICIAL SYSTEM, JUSTICE SYSTEM, LABOR FORCE, LABOR MARKET, LABOR STANDARDS, LEGAL SYSTEM, LOAN, LONG-TERM INVESTMENTS, LOW TARIFFS, LOW-INCOME, LOW-INCOME FAMILIES, MACROECONOMIC INSTABILITY, MACROECONOMIC PERFORMANCE, MACROECONOMIC STABILITY, MARKET ACCESS, MARKET SHARE, MEDIUM ENTERPRISE, MICRO-FINANCE, MICRO-FINANCE INSTITUTIONS, MICROFINANCE, MICROFINANCE INSTITUTIONS, MONETARY FUND, MOVABLE COLLATERAL, OUTPUT, OUTPUTS, OUTREACH PROGRAMS, OUTSOURCING, OVERDRAFT FACILITIES, PER CAPITA INCOME, PERFORMANCE MEASURES, POTENTIAL INVESTORS, POVERTY ALLEVIATION, PRIVATE BANKS, PRIVATE INVESTMENT, PRIVATE PROPERTY, PRIVATIZATION, PROBABILITY, PRODUCTIVITY INCREASES, PROPERTY RIGHTS, PUBLIC EXPENDITURE, RED TAPE, REGIONAL INTEGRATION, REGULATORY FRAMEWORK, REGULATORY FRAMEWORKS, REGULATORY REGIME, REINVESTMENT, REMOTE AREAS, RENEWABLE ENERGY, RISK MANAGEMENT, RULE OF LAW, SAFETY NET, SALES, SAVINGS, SAVINGS ACCOUNTS, SOCIAL SECURITY, SUSTAINABLE GROWTH, TARIFF SYSTEM, TAX, TAX RATES, TAX SYSTEM, TAXATION, TECHNICAL ASSISTANCE, TECHNOLOGY TRANSFER, TECHNOLOGY TRANSFERS, TELECOMMUNICATIONS, TELEPHONE LINES, TOTAL FACTOR PRODUCTIVITY, TRADE BALANCE, TRADE BARRIERS, TRADE CREDIT, TRADE DEFICIT, TRADE REGIME, TRADITIONAL INVESTORS, TRANSPARENCY, TREATY, UNEMPLOYMENT, VALUE ADDED, VERTICAL INTEGRATION, WAGES, WEALTH, WORKING CAPITAL, WORLD DEVELOPMENT INDICATORS, WORLD ECONOMY, WORLD TRADE, WORLD TRADE ORGANIZATION, WTO