Spain looks to Uruguay

By Pittaluga Abogados

The Spanish business community is bristling ever since Argentina announced it would expropriate Repsol, a move with potentially serious consequences that could impact corporate decisions, leading companies to look for other investment alternatives. This shift away from Argentina is one of the reasons Uruguay emerges as a strong potential destination for Spanish investments.

In this sense, positive repercussions are projected for both countries, as Uruguay’s legislation offers a secure framework for foreign investments, which are expected to increase in fields open for investment and profitable for the two nations. Spanish entrepreneurs are certain that their presence in South America will be supported primarily by future investments in Uruguay and have set their eyes on this country because of its legal guarantees. Leading sectors of interest include tenders in port logistics and infrastructure, alternative energies, infrastructure in general, and agriculture and food industries.

The country’s political and social stability and the solid performance of its transport, manufacture, construction, tourism and other industries are reflected in growing private consumption, decreasing poverty levels and increasing foreign direct investment.