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Guatemala

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Background

Guatemala was freed of Spanish colonial rule in 1821. During the second half of the 20th century, it experienced a variety of military and civilian governments as well as a 36-year guerrilla war. In 1996, the government signed a peace agreement formally ending the conflict, which had led to the death of more than 100,000 people and had created some 1 million refugees.

The agricultural sector accounts for about one-fourth of GDP, two-thirds of exports, and half of the labor force. Coffee, sugar, and bananas are the main products. Former President ARZU (1996-2000) worked to implement a program of economic liberalization and political modernization. The 1996 signing of the peace accords, which ended 36 years of civil war, removed a major obstacle to foreign investment. In 1998, Hurricane Mitch caused relatively little damage to Guatemala compared to its neighbors. Ongoing challenges include increasing government revenues, negotiating further assistance from international donors, and increasing the efficiency and openness of both government and private financial operations. Despite low international prices for Guatemala's main commodities, the economy grew by 3% in 2000 and 2.3% in 2001. Guatemala, along with Honduras and El Salvador, recently concluded a free trade agreement with Mexico and has moved to protect international property rights. However, the PORTILLO administration has undertaken a review of privatizations under the previous administration, thereby creating some uncertainty among investors

Holidays

Jan 1 - New Year's Day
Mar 24-27* - Holy Week
May 1 - Labour Day
Jun 30 - Army Day
Aug 15 - Assumption of the Blessed Virgin Mary(Guatemala City only)
Sep 15 - Independence Day
Oct 20 - Revolution Day
Nov 1 - All Saints' Day
Dec 24 - Christmas Eve (afternoon only)
Dec 25 - Christmas Day
Dec 31 - New Year's Eve (afternoon only)

 

Ps: This festival's date (*) given above is approximation which is subject to change every new year.

Phone Codes

Country Code: 502
Outgoing International Code: 00

Resources

Market Research

CIA - The World Factbook - Guatemala
This website indicates a wide range of detail information about Guatemala by introducing under 8 different fields as its geography, people, government, economy, communications, transportation, military, transnational issues. 

Governments on the WWW: Guatemala
Links to websites of governmental institutions and political parties in Guatemala

Guatemala's Business Profile
It is available to find out Guatemala's economy, commercial information, business via assisting easy access to its business environments.

Guatemala - Business Opportunities Center
There is a business directory relied on the information on economics, government, laws and demographics of Guatemala

Guatemala's Business and Economy
There is likely to find a full listing of business resources, opportunities and contacts in Guatemala.

Business Services in Guatemala
This website provides opportunities to search and/or advertise any business services, businesses, websites, and classifieds for targeted visitors/investors in Guatemala. Business opportunities, financial services, investment opportunities are the other subtitles available in this webpage.

OPIC Links: Investor's Information Gateway- Guatemala
There is available country database information links which are efficient for the new investors planned to do business in Guatemala including the contact lists of the institutions, organization related to Guatemala business.

 
 
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