Mei 2008: Nieuwsflits Guatemala
From Handelswijzer Midden-Amerika van de Koninklijke Nederlandse Ambassade te Costa Rica
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Food prices on the rise
While president Alvaro Colom looks for agreements to maintain the prices of basic food products, their prices continue to increase throughout markets in Guatemala. According to a recent poll carried out by a local newspaper, current prices have suffered more increases in the last months. For example, a pound of rice went from Q3.00 to Q4.00, a pound of beans from Q3.50 to Q4.00 and chicken went from Q6.00 to Q7.00 per pound. Erasmo Velásquez, vice minister for economy, stated that producers have to adjust prices because of the rise in petroleum and its sub products.
WAL-MART opens first Pollo Campero restaurant in its stores
Pollo Campero, the world's largest Latin chicken restaurant chain, has opened a restaurant in the Wal-Mart Super centre in Rowlett, Texas, its first ever in a Wal-Mart Super centre. Founded in 1971 by the Gutiérrez family in Guatemala, Pollo Campero opened its first U.S. restaurant in 2002 to record-breaking sales. Since then, the company has opened 40 locations in the United States from California to New York and Florida. Having recently established headquarters in Dallas, Campero USA Corp. has launched an aggressive expansion plan.
IMF: 4.8% expected growth in 2008 for Guatemala
The International Monetary Fund, in its report on world perspectives, projected that Guatemala’s economy will have a 4.8% growth and that Central America as a whole will have a decrease in growth. These projections differ from those of the Guatemalan Central Bank (BANGUAT), which estimate a growth of 5.3% for 2008 and 5.4% for 2009. According to IMF’s report inflation will close at 8% in 2008 and 5.9% in 2009, while Banguat projects 5.5% for both years. Marcio Cuevas, local economist, stated that IMF projections are reasonable and that Banguat’s estimates were made last year, before they had updated information on the situation of North American economy.
EURO-EXPO in Guatemala
The Euro Expo fair took place from May 12th to the 14th and united more than 200 local SME’s with European companies looking for new business and investment opportunities. Some of the European companies that participated are Banco Internacional, Distribuidora Bilbao, Digitex, Colegio SEK, Astoria, Cropa, S.A., Fenosa Union, Telephone, among others. Rafael Señán, representative of European Commission (EC) in Guatemala, explained that at least 32 European companies participated and 135 local SMEs had the opportunity to exchange opinions on potential businesses. “It was an excellent opportunity to explore opportunities and to find partners for future businesses”, expressed Señán. Euro Expo also had an exhibition of Development Cooperation Projects carried out by different countries of the European Union and the Delegation of the European Union in Guatemala in subjects like social cohesion (education, health, gender) democracy and good governance (human rights and justice), sustainable and equitable economic growth (rural development) and environment.
Guatemalan Ministers visit Venezuela to discuss joining PetroCaribe
Source: EFE
Haroldo Rodas, Minister of Foreign Affairs and Carlos Meany, Minister of Energy and Mines will visit Venezuela to discuss the terms for joining PetroCaribe. Venezuela has offered to supply Guatemala with 15.000 BPD of oil to be repaid within 25 years; however the Guatemalan government is seeking 30.000 BPD. President Colom recently reported that the PetroCaribe offer was “very attractive” and that details of funding and the amount of oil would be resolved soon.
Guatemala to announce public tender for natural gas exploration
The Government of Guatemala will launch a public tender for the exploration of natural gas in three areas located on the Pacific (south) side the of Central American country. The tender could be called with the next 45-60 days.
