Business forum promotes Uruguay as an investment destination and regional services hub

By Pittaluga Abogados

Uruguay has all the attributes in place to position itself as a key investment destination and innovation hub in Latin America and the Caribbean, Uruguayan officials, private sector leaders, and international experts said at the "Test & Invest - Uruguay Business Summit.”

More than 1,500 attendees from 44 countries participated in the forum at the Punta del Este Convention Center. Attendees, including investors, entrepreneurs, startups, and companies from Latin America and the Caribbean, the United States, Ireland, Singapore, Israel, and Korea and other countries, engage in over 300 business-to-business (B2B) and business-to-government (B2G) meetings.

“Uruguay is a very attractive investment destination due to its history of social and political stability, a solid legal framework, tax benefits, a modern telecommunications infrastructure, a sustainable energy matrix, a dynamic innovation ecosystem, and its qualified and multilingual human resources,” said Fabrizio Opertti, manager of the Integration and Trade Sector at the Inter-American Development Bank (IDB).

Luis Lacalle Pou, president of Uruguay, inaugurated the forum, organized by the IDB, the Ministry of Economy and Finance, the Ministry of Industry, Energy and Mining, Uruguay XXI and the National Agency for Innovation and Research (ANII).

In recent years, leading multinational companies have invested in Uruguay and established regional operations centers in the country. In 2021 alone, Uruguay received $1.4 billion in foreign direct investment, according to data from Uruguay XXI. The IDB believes public-private collaboration is key to creating new investment opportunities, as evidenced by successful cases in Korea, Ireland, Israel, and Costa Rica.