MONTEVIDEO – Some 84 percent of foreign companies in Uruguay expressed satisfaction with the process of establishing operations in the South American country, the results of a survey released on Thursday in Montevideo show.
The survey results, which EFE had access to, was commissioned by investment and export promotions agency Uruguay XXI and explains why the country should be viewed as an investment destination.
The report, prepared in the second half of 2015, focused on the experiences of companies establishing operations and their opinion of the business climate in Uruguay.
The survey was answered by managers at 160 foreign companies, 16 percent of whom said they were “very satisfied” with the process, while 68 percent said they were “satisfied.”
Overall satisfaction with the business climate in Uruguay was 76 percent.
Of the total number of foreign companies responding to the survey, 50 percent entered Uruguay before 2004 and 50 percent launched operations between 2005 and 2015.
Among the reasons why they chose the country, foreign companies mainly highlighted the legal framework (57 percent), macroeconomic stability (45 percent), profitability (34 percent), tax incentives (34 percent) and Uruguay’s strategic location and access to markets (27 percent).
Uruguay offers foreign companies the quality of its democracy, a transparent government and financial and macroeconomic stability, among other factors that encourage investment, Economy Minister Danilo Astori said.