The deputy assistant secretary of the USA for South America and regional financial coverage, Kevin Sullivan, participated yesterday within the Enterprise Way forward for the Americas (BFA), organized by the Guatemalan-American Chamber of Commerce (Amcham), an occasion by which be taught concerning the newest developments on matters related to commerce and funding within the area.
The official was interviewed by Free Press relating to his nation’s plans for Guatemala following the change of presidency and that is what he responded:
From Washington DC, how is Guatemala seen?
It’s a good time for Guatemala and likewise for our relationship. We had been very dedicated in order that President Bernardo Arévalo may assume his place, in line with the need of the folks of Guatemala, and we wish to accompany his administration by supporting him in no matter method we are able to, in addition to making an attempt to assist, significantly by way of the financial reforms which can be wanted. .
Over the course of this semester, what perspective do you have got of the brand new authorities?
We’ve got labored intently with the brand new authorities, together with with high-level visits and a dialogue targeted on the economic system, led by the Undersecretary of Financial system, José Fernández, so we’re doing very detailed monitoring of the commitments and objectives. that had been assumed.
Vice President Kamala Harris’ initiative directed on the subregion is key and we’re working to make sure that there are investments, commitments from the personal sector and a really harmonious collaboration with the federal government.
What outcomes may we anticipate within the following months?
With everybody’s efforts we have now managed to assemble potential investments of regarding US$5 billion and US$1 billion are already dedicated right here and deployed. The thought is that these investments assist create jobs and that the nation turns into a part of the brand new worth chains that we try to develop on the regional degree.
Within the close to future, what has been visualized?
We hope that corporations which can be inquisitive regarding investing can obtain these plans, collaborating with the authorities right here in Guatemala in order that this might really be carried out. In fact, there should be a talented and ready workforce to benefit from these alternatives.
We’re additionally ready for the authorities of the Congressional Govt to proceed advancing with reforms that may make Guatemala a extra engaging funding vacation spot.
Are we speaking regarding authorized certainty?
There are two points: first we should search the suitable microeconomic reforms to spice up investments; and likewise the leaders of corporations within the US and different international locations search that the rule of legislation is kind of robust, that there’s transparency in justice and that they’ll make investments with confidence.
Is there belief from the USA in direction of Guatemala?
It’s evident that there’s confidence, as a result of investments are coming, however there may be at all times room for enchancment. Our efforts go in that path.
What tasks or payments do we have to advance on?
For instance, in competitors legislation, amongst different tasks that would increase investments; above all, direct international ones, which may carry new applied sciences and integration of worth chains.
When it comes to cooperation, what plans are there?
We’re collaborating very intently right here in Guatemala, together with with the Minister of Financial system, Gabriela García, with a deal with coaching as a result of the workforce wants the required expertise to benefit from new worth chains and entice investments. We’re serving to Guatemala to carry and develop smarter and extra aggressive agriculture to benefit from these markets, so we have now quite a lot of cooperation.
In applications to keep away from irregular migration?
We’ve got a technique of going to the first causes that trigger the need to to migrate irregularly. We imagine that by enhancing each citizen safety and creating job alternatives, incentives will be created in order that younger folks in Guatemala wish to search their future right here of their nation, with their households, of their tradition, fairly than risking unsafe journeys. to the USA.
Out of your standpoint, how can commerce relations between each international locations be intensified?
With Guatemala we already take part within the Free Commerce Settlement (FTA), which gives us with a broad framework of free commerce and with guidelines that assist us create the belief that we talked regarding above.
We now have a brand new initiative within the area, which is called APEP (State of the Alliance for Financial Prosperity within the Americas) that brings collectively 12 international locations together with the USA, and within the area Costa Rica and Panama. It’s a group that has excessive requirements and is in search of to advertise funding, modernization and construct new worth chains.
Finally, the initiative has an open structure; Guatemala may aspire to hitch, if it needs, this initiative, which, based mostly on the FTAs it has with many member international locations, seeks to go additional to advertise cutting-edge investments in several sectors.
Worldwide occasion
Antigua Guatemala is the headquarters of the Enterprise Way forward for the Americas (BFA), which brings collectively representatives of the Chambers of Commerce of the USA, and the Affiliation of American Chambers of Commerce of Latin America and the Caribbean.
Yesterday, the USA Ambassador to Guatemala, Tobin Bradley, and members of the board of administrators of the Guatemalan-American Chamber of Commerce (AmCham) participated within the inaugural half; the Minister of Financial system, Gabriela García; the Minister of Communications, Infrastructure and Housing, Félix Alvarado; following which Vice President Karin Herrera joined.
The ambassador reiterated in his message the significance of strengthening relations with Guatemala, of in search of prosperity and sustaining dialogue with the completely different actors, in addition to the alternatives there are to make extra investments. He additionally recalled the current announcement made by the Walmart chain in Guatemala to develop an funding program for the following 5 years, for regarding US$700 million.
Subsequently, conferences and panels had been held by consultants and representatives of a number of native and international corporations, by which numerous matters associated to productiveness and funding had been addressed. The exercise concludes this Wednesday.
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