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  HOME | Uruguay

Mujica Sees Spanish Banks as Springboard to Greater Presence in Uruguay
The Uruguayan leader said that Montevideo’s relationship with Spain is “sustainable” and he noted that Madrid is the second-largest foreign investor in his country, after Argentina

MADRID – Uruguayan President Jose Mujica said Thursday that the good experience of Spain’s banks in his country can become a springboard for a greater presence by other Spanish companies that can invest in different sectors.

Mujica is on the second day of his official visit to Spain, during which he met with Prime Minister Mariano Rajoy.

In an interview granted to Efe, the Uruguayan leader said that Montevideo’s relationship with Spain is “sustainable” and he noted that Madrid is the second-largest foreign investor in his country, after Argentina.

“It’s gone very well in Uruguay for the (Spanish) banks and they are a springboard for an increase in a rather favorable outlook,” said Mujica, who added that “potential investments in the fishing industry are being planned.”

During his meeting with Mujica, Rajoy expressed interest in the “numerous opportunities for present and future investment” that exist in Uruguay, “emphasizing the international experience of the Spanish companies,” the Spanish government said in a statement.

Banks like Santander and BBVA, insurance company Mapfre, Telefonica, publishers Planeta and Santillana and textile firm Zara are some of the big Spanish companies that are operating in Uruguay.

Before a group of businessmen on Wednesday Mujica had alluded to other possible areas of interest for Spanish investment, including construction and transportation and energy infrastructure.

On Friday, the Uruguayan leader will travel to the southern Spanish city of Cadiz, where he will receive the Libertad Cortes award and during the afternoon he will travel to northern Spain’s Basque region for talks with local politicians. EFE


 

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