LEARN WHY URUGUAY IS THE BEST PLACE TO DO BUSINESS
Considered the gateway to Latin America, this country of just over 3.4 million people guarantees access to an expanded market of 400 million people.
Several international companies choose Uruguay as a regional hub to expand their operations. Pepsico, BASF, Trafigura, Sony, UPM, Roche, Danone and Renault, are just some of the companies that have chosen to develop their businesses, centralize their production processes or install their distribution centers in the country.
The reasons are varied, but here we highlight the factors that are decisive for companies when choosing this country as the neuralgic center of their business in the continent.
A great business climate
Its sustained economic growth over the past 15 years has earned it the rank of investor, according to the main international rating agencies. In addition, the country's economy has grown at an average rate of 4.3%, the second highest average in the region. In this context, investors highlight the world-class infrastructure and the excellent quality of life the country offers for executives and their families.
The last evaluation was announced in January 2019 by the Japanese rating agency Rating & Investment Information (R&I), which maintained the BBB rating with a stable outlook for Uruguay.
R&I highlighted the country from the rest of the Mercosur members and pointed out that it is a nation in conditions to improve in the medium term due to the next investments in infrastructure.
In addition, the specialized magazine Forbes published that Uruguay is one of the best countries in South America when it comes to closing deals in 2019.
A stable and predictable country
Uruguay is positioned as one of the main countries in terms of reliability in Latin America. For years it has had strong political and social stability, backed by a consolidated democracy and strong legal security. Its stability and predictability make this country the safest to invest in a region of high economic attractiveness.
These qualities were recently recognized in the latest edition of "The Economist Intelligence Unit's Democracy Index", which prepared a ranking in which Uruguay ranked 15th worldwide, being one of only 20 full democracies in the world.
The ranking also explains that it is first in Latin America and the Caribbean, followed by Costa Rica, being the only two countries with full democracies in the region. In the entire continent, Uruguay is second, surpassed only by Canada.