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06 February 2019 Share

Forbes: Uruguay is one of the best countries in South America to do business



According to the specialized magazine Forbes, the three main characteristics that make Uruguay a suitable country for investments are: the free market economy, an educated workforce and high levels of social spending which in the long term can also be estimated as a investment to future generations.

In this ranking, in addition to Uruguay, Chile also stands out, another country that is mentioned at the same time to highlight its progress in terms of institutions, democratic transparency and economic progress.

Thus, Uruguay ranks 2nd in terms of "Business Possibilities in 2019" above Brazil, Argentina and Paraguay, which are in third place four and fifth respectively.

Forbes, which has been operating since 1917 and whose specialty focuses on the world of business and finance, also determined that in all Latin American countries, the preferred destinations for doing business in the present 2019 are: Chile , Costa Rica, Mexico, Uruguay, Peru, Colombia, Brazil, Argentina, Dominican Republic, Guatemala, Ecuador and Paraguay, ordered from highest to lowest.

And of the 161 countries that were analyzed, the positions for Latin America in the ranking are as follows: Chile ranks 33, Costa Rica 48, Mexico 54, Uruguay 58, Peru 64, Colombia 67, Brazil 73, Argentina 76, Dominican Republic 91, Guatemala 97, Ecuador 99 and Paraguay 114, Honduras 120, Bolivia 128 and Nicaragua 135.

Continuing with the characteristics that the magazine highlights in our country, it also mentions the importance of the raw materials of the agricultural sector, destined for export, as well as the intentions of expanding the number of countries with which it makes economic alliances, for example, by negotiating with nations that are not members of MERCOSUR, but that act as partners and also states that are alien to the economic blocks in which they participate. They also add that: "Tabaré Vázquez has maintained a combination of pro-market policies and a strong social security network"

The magazine stresses that the financial difficulties that marked the 1990s and continued in the first years of the new century were overcome and, as of this moment, Uruguay had an average annual growth of 8% between 2004 and 2008. The same It could have been maintained but the following year, the global financial crisis slowed down this growth and reduced it to 2.6%. However, Uruguay was able to avoid the recession and continued with positive growth numbers.

Chile, which is located above our country and occupying the 1st place in South America, was distinguished by Forbes in these characteristics: a high level of foreign trade along with an important reputation in its financial institutions, as well as a policy able to give it the qualification of "sovereign bonds with greater solidity" of South America.


Material made from the digital information of the newspaper El Observador: click here

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