Uruguay is particularly well positioned to attract investment. Distinguishing factors include its strategic location in the region, political and economic stability, first-rate infrastructure, a highly developed telecommunications system, the educational level of its people, the right legal framework and a level of security that is outstanding in the region.
The Vice President of Uruguay, Danilo Astori, emphasizes Uruguay's advantages as a safe place for investment, in "a business climate that the country has been building in recent years, which has three main components."
"First, Uruguay has achieved significant fiscal and financial equilibrium. Uruguay's fiscal position is now very solid. At the same time, it has profoundly restructured its finances. It has managed its debt very professionally while increasing its presence and reputation in international financial markets. This reality is reflected in the steady improvement of the country's sovereign-debt ratings. Uruguay's fiscal and financial achievements have been complemented by social programs that have successfully reduced poverty and homelessness, thereby achieving stability in important segments of society. This is the first very important component for creating a good business climate," said Vice President Astori.
"The second component of the business climate has been a significant modernization of institutions that have included new spheres that allow the country to look forward and progress in very important areas, such as the creation of the National Research and Innovation Agency," he said.
"The third component is the set of very important stimulus measures that Uruguay has in place to promote investment. At the same time, we set up a streamlined system to administer and implement those measures, including tax breaks that are consistent with national interests, such as: employment, technological innovation and decentralization. These measures also include special duty-free port and airport zones. Uruguay is the only country on the South American Atlantic coast to offer such advantages. These economic stimulus measures together form a very important part of the business climate," he said.
Astori emphasized that Uruguay has other advantages that enhance its business climate.
"Uruguay's geographic location is absolutely strategic within the southern part of the continent as a gateway to the large expanded market represented by our neighbors, Brazil...