Investment opportunities: Industrial Parks

Uruguay is committed to the generation of value in the manufacturing industry while encouraging territorial development through Industrial Parks. Since the promulgation of Law 17,547, nine industrial parks have been approved, which have been installed mostly in Canelones and the rest on the river coast of the country. Currently, nine more are in the process of being approved.

Law 17,547 declares the promotion of Industrial Parks of national interest. According to the general regime of investment promotion, those companies that are installed in these spaces can obtain the general benefits to the investment and the specific benefits of the Industrial Parks as exemptions and specific fiscal credits.

The Industrial Parks represent benefits for the companies and the State since they share the expenses of investment, maintenance and services, allowing them to benefit from the economy of scale. For the State, the cost for providing services also decreases given the concentration of industries in one place.

When an Industrial Park is installed, the greatest possible positive impact is sought for its members. It is convenient that in each park establish companies that can be related in the different levels of production since logistics costs are cheaper and the contact between the involved parties is fluid, thus favoring innovation and research.

By involving different industries, industrial parks are generators of employment. For this reason, its location is thought for territorial development purposes in the area where it is located. According to current regulations, different tax incentives are established according to their place of installation to generate a greater impact.

It is expected that during 2017 the performance of the industrial sector will remain at positive levels, with a growth rate between 2.5% and 3%.

Check the report here.