MONTEVIDEO – Uruguay is out to attract foreign investors as an ideal location for regional corporate centers and offshore enterprises at the 2nd Uruguay Business Experience 2017 to be held March 9-10, the executive director of the Uruguay XXI foreign trade agency, Antonio Carambula, told EFE.
The government program of global export services handles some $2.8 billion per year distributed among 2,000 companies established in the country and which have generated some 20,000 jobs, Carambula said.
“It has come to occupy an important place in the country’s economy. The Uruguay XXI program seeks to keep promoting Uruguay as a global services market, and with this event aims to highlight the country’s attractions for foreign investors.
The manager of Uruguay XXI’s global services, Alejandro Ferrari, also told EFE that this is a “relatively new” enterprise in the country and it is very important to keep promoting it.
“The statistics reflecting its importance to the economy speak for themselves, but it’s a good thing to keep raising awareness of how much this sector means,” Ferrari said.
Uruguay Business Experience 2017 is said to have a number of goals: one is that global export services be seen as a whole, that the conference share and discuss opportunities and best practices, and that it also contribute to the nation’s unique value proposition as a reliable investment center.
The event will have as many participants from the public as from the private sector, and up to now 30 foreign investors from Argentina, Brazil, Germany, Spain, the United States and the UK have confirmed their attendance, Ferrari said.
“They are already interested in the country to some extent and they’re exploring it as one of their investment alternatives,” the manager said about the foreigners who will attend the event.
Ferrari also said the conference will focus chiefly on regional corporative centers, operations of international companies here with more than 20 employees and which use the country as an alternative for carrying out their activities.
As for the country’s advantages for developing such activities, Ferrari said that Uruguay offers “macroeconomic and political stability” and “project continuity through changes of government.”
For his part, Carambula said that “Uruguay’s quality of life” is an incentive for executives who must decide where to set up their companies.
“Montevideo is very well placed in Latin American rankings,” the executive director said.
Present at the event in Montevideo besides Carambula will be the representative in Uruguay of the Inter-American Development Bank (IDB), Juan Jose Taccone, and Economy Minister Danilo Astori, who will open the conference.