The United States Undersecretary of State, José Fernández, held important meetings with representatives of various sectors in Guatemala with the aim of advancing the ongoing economic projects and exploring new opportunities for collaboration.
These initiatives are aimed at improving the social and economic cohesion of the country, with a focus on generating tangible benefits for the Guatemalan population.
Joint projects include strengthening urban mobility and creating a better business environment, always seeking to protect workers’ rights and ensuring that economic growth is accessible to all.
Revision of the High-level Economic Dialogue
On October 15, Fernández and Guatemala’s Minister of Public Finance, Jonathan Menkos, co-chaired the mid-year review of the High-Level Economic Dialogue (HLED) at a virtual meeting with the participation of senior officials from both countries. U.S. representatives included members of the Office of the Vice-President, the Department of Agriculture, USAID and the Guatemalan embassy in Washington.
This dialogue reaffirms the commitment of the United States and Guatemala to inclusive economic prosperity and transformative growth. It should be noted that Guatemala is the first country in Central America with which the United States has initiated this type of dialogue, which highlights the relevance of this bilateral relationship.
During the meeting, both sides agreed to continue collaborating in five key areas:
- Good governance
- Promotion of investments
- Agriculture and food security
- Energy security
- Remittances for development
The private sector as an investment engine
On October 16, a delegation from the Coordinating Committee of Agricultural, Commercial, Industrial and Financial Associations (CACIF), headed by its president, Carmen María Torrebiarte, participated in a meeting in Washington, D.C., convened by Undersecretary José Fernández. This round table discussed crucial issues for Guatemala ' s economic development and opportunities to attract new investment.
Torrebiarte described the meeting as positive, highlighting the interest in creating strategic alliances between the Guatemalan state and the private sector, with the support of the United States. Issues such as the need for an Infrastructure Law and public-private partnerships were addressed to promote key projects in Guatemala.
According to Torrebiarte, do we talk a lot about infrastructure and the importance of the adoption of the Infrastructure Act in order to be able to develop projects. We also discuss public-private partnerships as a tool to enhance the country’s exponential development.
Public-private partnership shared
Both the representatives of the United States and Guatemala recognized the fundamental role of the private sector in the success of economic initiatives. Both nations are committed to generating new opportunities that will boost economic development and make Guatemala an attractive destination for foreign direct investment.
The United States highlighted the commitment of Guatemalan and American companies to the rule of law and their efforts to improve the business environment, which is contributing to greater prosperity in both countries.
This article has been translated after first appearing in Prensa Libre