Special to A.M.Guatemala
(May 4, 2011) The United Nations body that promotes the integration of
developing countries into the world economy has advised Guatemala to
strengthen governance and improve the performance of it public
institutions to attract more foreign direct investment.
An investment policy review of Guatemala by the U.N. Conference on
Trade and Development, released in Geneva, noted that although the
country has modern laws relating to its investment regulatory
framework, critical policies essential for the proper functioning and
management of markets are yet to be implemented.
|It cites the lack of a
competition policy and the absence of a national
agency to regulate competition as a case in point. Important government
institutions are often too weak and poorly resourced to effectively
fulfil their mandates, according to the review unveiled during the
week-long meeting of the conference’.
Supachai Panitchpakdi, conference secretary general, said Guatemala’s
open policies, protracted political and macroeconomic stability, and
sizeable domestic market, in addition to its favourable geographic
position and the quality of the labour force, point to a significant
potential for attracting foreign investment.