79% of U.S. companies in Uruguay are satisfied with the country as a business destination

The government agency responsible for promoting investment, exports, and the country’s image, Uruguay XXI, presented the results of the business climate survey targeting U.S. companies in Uruguay at an event held in the Torre Ejecutiva amphitheater, which brought together national officials, representatives of the diplomatic corps, and members of the business community.

The event was attended by the Minister of Economy and Finance, Gabriel Oddone, the Minister of Foreign Affairs, Mario Lubetkin, and the U.S. Ambassador to Uruguay, Lou Rinaldi, along with representatives of U.S. companies operating in the country.

During the event, the Minister of Economy and Finance, Gabriel Oddone, highlighted that the survey results confirm some of the factors that characterize the country as an investment destination. “Macroeconomic conditions and legal certainty are key factors in ensuring that foreign companies are satisfied. Therefore, this reaffirms the idea that Uruguay is a reliable long-term partner,” he noted.

The survey was conducted by PwC and included the participation of 61 companies out of a total of 244 companies, representing a 25% response rate.

Among the study’s key findings, it is noteworthy that 79% of participating companies report being satisfied or very satisfied with Uruguay as a location for conducting their business activities.

PwC Managing Director Advisory, Rossana Grosso, who presented the survey results, explained that satisfaction levels are high across most of the variables analyzed. “When we analyze the factors influencing the ease of doing business, we find very high satisfaction levels, especially in macroeconomic stability, at 97%, and in institutional and legal security, at 95%,” she noted.

Other factors also received positive ratings, such as tax exemptions and incentives, exchange rate freedom and the ease of repatriating dividends, market access conditions, and quality of life, while the time required to complete administrative procedures emerged as the aspect with the highest relative levels of dissatisfaction.

The survey also identified the aspects that companies consider priorities for improving the investment climate and promoting further expansion of their operations in the country. Among the main points mentioned are market access conditions and tax incentives, followed by factors related to country costs, competitiveness, and labor market conditions.

During the event’s opening, the executive director of Uruguay XXI, Mariana Ferreira, emphasized that these types of studies are part of the agency’s work to strengthen the investment climate in the country. “One of Uruguay XXI’s objectives is to attract foreign investment and support companies throughout their investment cycle in the country. “This type of survey allows us to learn firsthand about the challenges companies face and to work alongside government ministries to continue improving the business environment,” she noted.

Ferreira added that the survey is also part of the agency’s aftercare and policy advocacy efforts. “We aim to work closely with foreign companies so that they not only reinvest their profits in Uruguay but also expand their operations. To that end, it is essential to understand the opportunities for improvement identified by those already operating in the country,” she stated.