New Economic Team Introduced in Guatemala

Streamlining business registration and reducing costs are the main goals of the next Guatemalan Minister of Economy and his team.

Thursday, January 12, 2012

Sergio de la Torre, a Guatemalan businessman and the new finance minister, introduced his team, made up of people associated with the private sector in that nation.

Maria Luisa Flores, who worked at the Chamber of Industry of Guatemala (CIG), will be the Deputy Minister for Integration and Foreign Trade. The Vice Ministry of Investment and Competition will be directed by Claudia Del Aguila, who was manager of Export Services in the Guatemalan Association of Exporters (Agexport). The Vice Minister of Development of Micro, Small and Medium Enterprises, will be Siegfried Lee, analyst and former director of the National Institute of Statistics. The businessman Juan Carlos Paiz is the director of the National Competitiveness Program (Pronacom), the president-elect, Otto Perez Molina, was also named Commissioner for Competitiveness.

The next economy minister was quoted in an article in PrensaLibre.com as saying "in 2012 the intention is to supercede the 47,000 jobs generated in 2007, a record year." In order to create new jobs " the business climate must be improved and business registration streamlined." He promised that he would work so that the country's economic growth reached "at least 6% in the medium term."

More on this topic

Guatemala Renews Trade Policy

February 2012

The new government authorities want to emphasize improving competitiveness and investment attraction.

More competitiveness and attracting foreign investment. Those are the two axes of a renewed foreign trade policy announced by the National Council for Promotion of Exports (CONAPEX) in Guatemala.

Otto Perez Molina Appoints Future Minister of the Economy

November 2011

Otto Perez, president elect of Guatemala, has appointed Sergio de la Torre as the future Minister of the Economy.

The president-elect said of the decision: "In the past 8 years Sergio de la Torre has been a member of the Monetary Board, he is a business manager and a businessman. He has always been involved in the country’s economic development."

Chamber of Commerce Implements Electronic Signatures

January 2012

The Guatemalan Chamber of Commerce is the first entity to become a Registration Authority for the issuance of electronic signatures in the country and Central America.


A press release from the Ministry of Economy of Guatemala states:

Guatemala, January 9th , 2012. Today at a press conference, Finance Minister Luis Velásquez alongside authorities from the Certification Service Providers Registry, RPCS - Guatemalan Chamber of Commerce -GCC-and the Inter-American Development Bank, BID introduced the GCC as the first certification services provider, an entity that as of February this year will implement Electronic Signature use.

Procedures for Business Registration Streamlined

May 2012

The Ministry of Economy in Guatemala has presented " Ventanilla Ágil Plus “ (Agile Counter Plus), which will reduce the time for registering a business.

From a press release from the Ministry of Economy of Guatemala (Mineco):

- 30 steps to register companies eliminated reducing the process from 47 to 17 days.

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