“Uruguay is a country with significant potential; it is stable and very enjoyable to live in.”

Uruguay returned to Chile with the fourth edition of the Propuesta de Valor Uruguay (Uruguay Value Proposition) series and showcased itself as a reliable, competitive, and attractive destination for setting up and developing international operations. The meeting, organized by Uruguay XXI together with the Ministry of Foreign Affairs and the Embassy of Uruguay in Chile, highlighted the factors that make the country a strategic business hub: its political stability, legal certainty, tax incentives, first-class infrastructure, and highly qualified human capital.

The executive director of Uruguay XXI, Mariana Ferreira, and the agency’s investment specialist, Fabiana Valiño, opened the event by presenting the opportunities Uruguay offers as an innovation hub. Special guests then shared their experiences, providing practical and intimate insight into why Uruguay is consolidating its position as a regional strategic partner.

Science, innovation, and biotechnology: a Chilean commitment to Uruguay

Chilean investor Cristián Hernández, general partner at Zentynel Frontier Investments—the first venture capital fund specializing in biotechnology in Latin America—shared his experience investing in scientific projects born in Uruguay.

“Uruguay has the good fortune to have a world-class research center, the Pasteur Institute in Montevideo. There, we found a technology that promises something extraordinary: a vaccine against pain. We met the researcher, saw the potential, and decided to try it. From that decision, we began to get to know the country, its rules, its institutions, its idiosyncrasies, and its talent,” he said.

Hernández highlighted the flexibility and cohesion of the actors involved in the Uruguayan ecosystem. “When you take scientific technology and want to turn it into a company, you invest in brilliant minds and help them move from the laboratory to the market. In Uruguay, the logic of pairing up was obvious, and the mental flexibility of everyone involved was superior to what we had seen elsewhere. That gives hope,” he said.

The investor also highlighted the emergence of some 25 science-based startups that, he said, are building “biotechnology muscle” not seen in other countries in the region. “Uruguay has the potential to become a biomanufacturing hub. They have the infrastructure, machinery, talent, permits, materials, and reagents,” he emphasized.

He closed with a clear definition. “Uruguay is a highly predictable and stable country. It has a pleasant living environment. Our Uruguayan friends are very affectionate, friendly, and polite; it’s truly a pleasure to be around them, making one feel comfortable,” he said.

A society with a future

For his part, the Chilean ambassador to Uruguay, Patricio Morales Fernández, offered a diplomatic and cultural perspective on the country. “Uruguay is known in the region for its political quality. It is a country where parties are strong, where there is a culture of dialogue and a society that is moving forward with firm steps,” he said.

Morales highlighted the cultural similarities between Chile and Uruguay and assured that it is a “safe destination with great opportunities and an easy way of life.” He also recalled that the free trade agreement between the two countries included a chapter on gender and trade for the first time, the results of which have been overwhelming. “Between 2019 and 2024, the participation of women-led companies in bilateral trade with Uruguay grew by 7.8%, compared to 0.98% with other countries. This chapter works and is an example.”

The ambassador also emphasized the geographical and cultural proximity. “We are two hours apart by plane and have a great affinity. In Uruguay, it is easy to have direct contact with ministers, even with the president. If I had to define a place where Chile should look, invest, or approach in the region, that place is Uruguay.”

The day ended with a networking event that brought together investors, representatives of free trade zones, legal advisors, accountants, and real estate professionals. As a strategic destination in Latin America, Uruguay reaffirmed in Santiago, Chile, its commitment to opening doors and building bridges for business and cooperation in science, innovation, and culture.