“Brazil Leads Investment Inquiries in Uruguay”

Martín Mercado, deputy director of Uruguay XXI, highlighted the growth in Brazilian investment in Uruguay and the increase in inquiries from companies interested in operating from the country during the first panel of the Conexión Uruguay-Brasil event, organized by the newspaper El Observador and Piso 22, which focused on trade and attracting investment.

The panel also included the president of the Uruguay-Brazil Chamber of Commerce, Alejandro Arechavaleta, and Sebastián Risso, a partner at El Faro Advising.

“Uruguay is already an investment hub for companies from all over the world,” stated Mercado. He noted that Brazil is a priority market for Uruguay XXI and emphasized the importance of political stability and legal certainty in business decisions. As he explained, during recent meetings held in Brazil as part of Uruguay Week in Rio de Janeiro, these attributes were repeatedly cited as factors that provide predictability “for companies and for exporting.”

Uruguay Week in Rio de Janeiro, held from August 10 to 16, featured a program focused on economic promotion, tourism, culture, education, and institutional cooperation in Rio and Niterói. As part of this event, Uruguay XXI organized meetings with Brazilian business leaders, investors, and consultants, including a new edition of Uruguay Day in Brazil, which brought together more than 150 public and private sector leaders and provided an opportunity to showcase Uruguay’s conditions for investing, operating, and developing businesses from Uruguay.

According to Mercado’s presentation, Brazilian capital in Uruguay rose from approximately US$2.5 billion in 2019 to more than US$4.4 billion in 2024—a 78% increase, equivalent to a rise of nearly US$2 billion over five years. “There are more than 100 Brazilian companies currently operating in Uruguay,” he stated.

In addition, the deputy executive director of Uruguay XXI noted that since 2024, Brazil has topped the list of investment inquiries received by the agency. “Between 2023 and so far in 2026, the Investment Law Enforcement Commission (COMAP) recommended 42 projects linked to Brazilian companies totaling approximately US$600 million. Since 2006, there have been 175 projects totaling more than US$1.3 billion (…) so the Investment Law and the tax benefits are not just theory—they are real,” he said.

In light of this interest, Uruguay XXI designated Brazil as one of its priority markets during this period and rolled out what it calls the Brazil Plan, with promotional activities already carried out in São Paulo and Rio de Janeiro. The strategy aims to transform business interest into concrete projects and strengthen Uruguay as a regional platform for investment, production, and exports.