May 16, 2022

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India and Spain reiterate their commitment to continue investing in Guatemala

Guatemala City, March 23 (AGN) .- Indian Ambassador to Guatemala, Manoj Kumar MohapatraSaid under guidance President Alejandro Giammattei The country is emerging as a strategic investment destination in the Central American region.

We at the Embassy of India and the private sector in India are interested in this project Guatemala does not stand still Mohabatra also said that special efforts would be made to invite investment in various sectors such as pharmaceuticals, energy, education and engineering under the scheme.

Such statements were made during the launch event Investment SummitIt will take place on March 29 and seeks to establish Guatemala as an investment-generating country.

I am pleased to share that one of India’s largest IT companies has just started operations in Guatemala. This is not only a new investment, but existing IT companies are also expanding their operations with new investment. Similarly, there are more investment projects in the pipeline, including the pharmaceutical, tire manufacturing and refining sectors.

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Indian Economy

Currently The Republic of India Its economy is expected to grow to $ 1.6 billion and 9 to 10%. Predictions are that in 10 more years India will become the third largest economy in the world.

With this in mind, there are 15 Indian companies in Guatemala that create more than 7,000 direct jobs.

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Similarly, the Ambassador confirmed that the aim is to build and liaise with each of the Guatemalan sectors in order to enhance trade relations.

One of the sectors that needs to be strengthened is BPO and Call center, Being in the country.

On the issue of energy, he pointed out that he is interested in signing a memorandum of understanding on oil, which has been translated as a significant investment in the country. Currently, Indian companies are in talks with some in Guatemala, especially in Baton Rouge.

He also mentioned the engineering course, noting that there are companies interested in making plastic and automotive parts. However, he pointed out that the aim is to expand the tire manufacturing, textile and refining sectors.

Guatemala and India reaffirm the relationship to strengthen trade ties

Investment from Spain

Meanwhile, the Spanish ambassador to Guatemala, Jose Maria Lavina RodriguezSaid the country Has a loyal and trusted partner in Spain.

You can always count on our support in all areas, including the economy and business. As is well known, Spain continues to be the country’s leading European investor, with a registered investment of over $ 1 billion, which will grow year on year, he added.

The Spanish diplomat stressed that the countries should not settle for these figures, but want to continue to intensify trade relations.

The organization of business missions to Guatemala next week is essential. He pointed out that this allows for direct contact between the institutions of the two countries and strengthens the bonds that unite us after centuries of shared history.

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