Guatemala approves law to create National Port Authority

Guatemala has approved the General Port System Law, which establishes the National Port Authority (APN) to centralize management and encourage investment in the country's maritime infrastructure. The law aims to address severe logistical bottlenecks at key locations such as Puerto Quetzal and Santo Tomás de Castilla, where vessels face significant delays.

According to Agexport, these delays cost the nation between US$16 million and US$35 million. AmCham reports that waiting times have caused bulk cargo costs per ton to rise from US$4 to nearly US$70. While the law seeks to streamline competencies, concerns have been raised regarding the concentration of power, as four of the five seats on the new Authority's Board of Directors are appointed by the Executive branch.