Uruguay presented in Buenos Aires its qualities as an investment destination

The Business Opportunities in Uruguay event formally launched the Uruguay Week in Argentina, which will run from Monday 23 to Friday 27 July. This activity includes a commercial visit of 20 Uruguayan companies with the aim of exploring new business opportunities and promoting the qualities of the country as a supplier of goods and services. In parallel, representatives of Uruguay XXI will hold meetings with funds and companies interested in investing in Uruguay.

The business meeting was held on Monday, July 23 at the residence of the Ambassador of Uruguay in Argentina, Hector Lescano and brought together more than 150 potential investors, representatives of Chambers of Commerce and of the Argentine government. The ambassador welcomed the guests and highlighted the trust generated by Uruguay for the determined direction of its economic policy, legal certainties and its State policies.

In turn, the undersecretary of the Ministry of Tourism, Benjamin Liberoff, said that of the more than 4 million visitors that Uruguay receives each year, 2.6 million come from Argentina. Regarding investments, he indicated that in Uruguay, Argentinians invest more than USD 5,000 million destined for second homes.

The executive director of Uruguay XXI, Antonio Carámbula highlighted the macroeconomic soundness, institutional strength and life quality of the country. "We are ranked in the first places in Latin America in transparency, democracy and equity. These are some of the reasons that have allowed the sustained growth of Uruguay in the last 15 years", he said.

Carámbula added that Uruguay grows above the region with the particularity that it is the most egalitarian country on the continent. "That has to do with institutional strength and social stability", he said.

Argentina is the country that has made the most investments in Uruguay, representing 15% of total Foreign Direct Investments according to information from the Central Bank of Uruguay. Indeed, the Uruguayan economy has received investments from some 400 companies of Argentine capital, with the main sectors being trading, manufacturing and forestry-wood.

The event also included the testimony of Román Hughes, regional head of marketing retention of Mercado Libre, who explained the four reasons that led the company to set up in Uruguay: the closeness and centralization within Latin America, the tax benefits, the available talent quality and the technology and infrastructure.

The closing of the business meeting was an electrocandombe show performed by the musician Daniel "Tatita" Márquez and a cocktail with outstanding national products. In addition, Uruguayan companies participating in the commercial visit were able to exhibit some of their products.

All these activities were organized by Uruguay XXI with the strategic support of the Embassy of Uruguay in Argentina.