Entrepreneurs highlighted Uruguay as a business hub

It was at the America Business Forum, which brought together leading business figures.
Publication date: 19/02/2020

Political and economic stability, highly educated workers and ease of making contacts are the attractions that companies look for when setting up in a country and that they find in Uruguay. This was stated by foreign companies with operations in the country that participated in America Business Forum, a meeting that brings together representatives of the business world, members of non-governmental organizations and authorities of the region, and which was attended by renowned international speakers.

Uruguay XXI supported this global forum to continue promoting the country as a business hub. Uruguay, which has established itself as a stable gateway to more than 400 million people, has positioned itself as a solid regional logistical 'hub' and also has a privileged location that favors access to millions of consumers throughout the continent in a few hours.

The legal security and stability are some of the strengths that Uruguay offers to companies to settle in the country, said the executive director of the agency for investment promotion, exports and country brand, Uruguay XXI, Antonio Carámbula, during the development of the America Business Forum. "Companies come to Uruguay and, as they do well, they reinvest and expand their business scale looking for opportunities in the region," he said.

One of the speakers of the day was the Italian Giuseppe Cipriani, who is carrying out an investment for the construction of a luxurious complex where the facilities of the former Hotel San Rafael in Punta del Este were located. The hotel businessman highlighted that Uruguay is "a magical place because there is no instability and the government helps". He assured that when things work out it is easier to invest. "The Municipality of Maldonado approved our project in record time. It is fundamental to have a government that supports and laws that work. That's what we have in Uruguay," he argued. The investor also added that Uruguay is a "fantastic country, with incredible nature and people". "It has everything to be a country to stay," he said.

Get to know the experience of companies operating from Uruguay to the world

"Globant is an Argentinian digital and cognitive transformation company, but it operates worldwide. It started working in Uruguay almost 10 years ago. We decided on Uruguay because it is a market in which we find mature talent with a lot of opportunity to be promoted. We found a great level of universities, a great academic level and also a very good level of English and Portuguese, something fundamental for the global business we develop."

Bernardo Manzella, country manager of Globant

"We have been present in Uruguay since 1937, selling in the local market. Three years ago we installed a logistics hub through which we move goods to the South American continent. Uruguay offers several advantages, the most common and always mentioned are political, economic and social stability, but beyond that, we see for our sector that in this country, due to its size, contacts can be made quickly. One can easily reach the Ministry of Public Health, the National Customs Directorate, the Ministry of Livestock or any other regulatory body. In addition, there is always a cooperative spirit. That is one of the main differentials."

Alejandra Silveira, Uruguay Hub International Manager, AstraZeneca

"We make satellites for space mapping. We basically look at the earth from space. In Uruguay we have the satellite integration plant because here we find political and economic stability. In addition, the free zone regime helps us with trade and the people we can hire is adequate for working the operation. A plus we have is being so close to our design offices in Argentina, which allows us to work together with them."

Fabricio Borsellino, Plant Manager of Satellogic

"In Uruguay we have a quite particular job since we serve all the companies of the group. The office was opened 15 years ago as part of a strategic plan to provide a service of almost 24 hours a day of research and development. There were many reasons for choosing Uruguay. Firstly because it is a country where we found very qualified talent, and secondly because it was very necessary for us that the employees spoke very good English. It was important to find a competitive place in terms of operational costs, and Uruguay met that as well. Added to that is the free zone regime it offers, which is very beneficial, and it is also very easy to set up a company or an operation in those zones".

"There are also background factors, Uruguay is a country with a lot of political stability, legal security, there is a very good physical and communications infrastructure. Nowadays, it is fundamental for working to have a very good Internet connection and technology access. All these factors are present in Uruguay and that is why it was very easy to install our company here."

Sofia Jaunsolo, Country Manager Willis Towers Watson 

(With information from EFE)