As part of the agreement between the United States and the Northern Triangle, comprised of Guatemala, El Salvador, and Honduras, various companies in the isthmus region continue to invest to foster better economic and social development.
BANCO CUSCATLÁN – EL SALVADOR
Banco Cuscatlán announced an investment of over $30 million in El Salvador over the next five years. The bank will primarily focus on financial inclusion initiatives, aiming to bring 600,000 people into the formal economy. This endeavor is designed to create opportunities and promote sustainable development for future generations.
Banco Cuscatlán also announced its expansion into Honduras in 2023, following regulatory approvals for the majority acquisition of Banco de los Trabajadores. Federico Nasser, President of Cuscatlán Investments, stated: “’We believe in Honduras, we believe in Central America. This step reaffirms our regional vision to generate value responsibly and sustainably for Central Americans, delivering excellent financial solutions with innovation through a more humane banking approach, focused on providing the best customer service experience”.
CORPORACIÓN AG – GUATEMALA
Corporación AG, the largest steel producer in Central America, plans to invest over $150 million in Guatemala over the next three years to increase its production and distribution capacity. It anticipates generating more than 500 full-time jobs and over 1,000 indirect employment opportunities.
The firm, recognized in 2022 as one of the best places to work by Great Place to Work, has sought support from the United States to open up the steel market. Additionally, it is seeking financing through DFC entities and technical assistance for investment promotion and institutional strengthening in Guatemala. Led by Rodrigo Gabriel, CEO of the corporation, the firm has been praised for its recycling practices and focus on the circular economy.
CONECTA – GUATEMALA
The platform incorporating investments from Grupo Energía Bogotá in Guatemala has committed to investing over $260 million in the Central American country for the development of six electricity transmission projects, estimated to generate more than 3,000 direct jobs and 7,600 indirect ones.
These projects will help connect thousands of people lacking access to electricity, with a positive impact on the local economy, creating employment opportunities and contributing to overall well-being. In 2023, the Grupo Energía Bogotá subsidiary constructed the Gutesur-Las Cruces line, Las Cruces 230 Kv substation, and expanded the Guatesur substation to enhance the quality of electricity service in the Sacatepéquez department.
Source: Forbes Centroamérica
