Uruguay Advances Its Talent Strategy to Support Investment Growth

The National Institute for Employment and Professional Training (INEFOP) and Uruguay XXI, the country’s investment, export, and nation-branding agency, renewed the agreement that sustains the Finishing Schools program, a key instrument supporting the growth of foreign direct investment and the creation of new jobs.

The event was attended by the Undersecretary of the Ministry of Economy and Finance, Martín Vallcorba; INEFOP’s Director General, Miguel Venturiello; board member José Pedro Derrégibus, representing the Chamber of Commerce and Services of Uruguay; and the Executive Director of Uruguay XXI, Mariana Ferreira.

The renewal reaffirms both institutions’ commitment to developing talent for companies that are establishing or expanding operations with an export focus, while strengthening the country’s conditions for attracting new job-creating investment. The agreement sets the goal of training at least 500 people over the next two years, including a minimum of 150 participants in digital bootcamps under the Uruguay Bootcamp Program, aimed at fast-track training for emerging talent in the digital labor market.

During the presentation, Vallcorba highlighted the program’s contribution to national competitiveness. “This initiative has a positive and significant impact on attracting investment, improving productivity, and creating quality jobs. The ministry recognizes the importance of supporting its development and expansion,” he said. He added that the program “was created with a clear purpose: to connect talent development with the specific needs of each company and of the most dynamic sectors of the economy, strengthening coordinated work between the public and private sectors.”

Venturiello underscored the strategic value of the instrument. “We are very proud that the institute is supporting this tool, which is a highly attractive entry channel for foreign companies. With Uruguay XXI we already have a strong track record of collaboration, which continues to grow — and we’re aiming even higher,” he said.

Derrégibus emphasized the scope of the cooperation. “Uruguay has a real opportunity to continue consolidating itself as a competitive destination for investment — an opportunity that can only be sustained if there is available talent aligned with the needs of a rapidly evolving sector. This agreement puts the priority back at the center: the 500 people we plan to train.”

Ferreira highlighted the central role of talent in the country’s investment-attraction strategy. “Finishing Schools has been key to attracting foreign investment. At the agency, we see talent as an essential pillar, because we cannot go out and seek new projects if we do not have people trained in the skills companies need. There is a long-standing public policy behind this, and that makes tools like this even more relevant.”

Finishing Schools provides non-refundable co-funding of up to 70% (up to US$50,000) for training plans promoted by companies seeking to establish themselves, expand operations, or develop new capabilities. The program covers activities such as curriculum design, train-the-trainer programs, teaching hours, academic management, infrastructure, and other related expenses. It also includes a specific scheme for bootcamp-type training, with higher subsidy amounts and differentiated requirements.

Under the renewed agreement, INEFOP will allocate US$360,000 over the next two years, while Uruguay XXI will manage the instrument and support companies throughout the application and implementation process.

The program operates on an open-call basis and accepts proposals from companies, educational institutions, or business associations endorsed by firms in the sector. Courses must be geared toward creating new jobs, although existing staff may also participate in the same training plan.

Since its launch in 2012 — implemented by Uruguay XXI with support from the IDB and co-funded by INEFOP since 2016 — the Finishing Schools program has supported more than 350 companies and trained over 11,000 people across various fields.

The renewed agreement aims to strengthen talent availability, support companies investing in the country, and foster the development of new skills in line with Uruguay’s positioning as a regional hub for business and innovation.