It received more than 1,000 projects and investments last year. Since 2022, it has accumulated an amount of US$1.2 billion within the framework of the law.
Uruguay had a record number of 1,000 projects and investments during 2023, which allowed us to reach a total of 1.2 billion dollars in the last two years.
Various business chambers met in an activity organized by the College of Accountants, Economists and Administrators of Uruguay (CCEAU)whose objective was to analyze the investment promotion regime in Uruguay and its impact on the local economy, as well as the relevance that this law has had on companies’ investment decisions. In this sense, the participants highlighted the record achieved last year and the disbursement of an amount around 1.2 billion dollars between 2022 and 2023.
These figures come from the survey on foreign investments in 2023 presented by Uruguay XXI during the event, which recorded record numbers both in projects presented and amounts invested.
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A law of importance for the country
“The survey clearly shows the importance of the investment law regime in the decision of foreign investors to invest in Uruguay. More than 44% of foreign investors say they use this regime and the positive assessment exceeds 90%,” explained the accountant. Guillermo Sanjurjo, president of the Analysis Commission of issues related to the Investment Lawin front of the nearly 370 participants, among whom were authorities from the Confederation of Business Chambers (CCE)the Rural Association of Uruguay (ARU) and the Chamber of Industries of Uruguay (CIU)among others.
For Sanjurjo, investment “is a very energizer of the economy”; and he highlighted the law as “a very important vehicle” to promote investments that otherwise would not be made in the country, providing different concessions and tax benefits. “They grow year after year and have been in different sectors such as agriculture, commerce, industry, services and tourism,” he added.
The accountant also added that the law has been fundamental for Uruguay, since it has made it possible to attract more investments and this has had an impact on the generation of employment, the generation of a positive capital flow, the increase in tax collection and the Gross Domestic Product (GDP)“all aspects that help the development of the country.”
For her part, the president of the College of Accountants, Cristina Freire, said that it is important that these types of figures be presented, since “they are an engine for the country from an economic point of view” and furthermore, she assured that for accountants It is essential to participate in these events since there are many of them “who have made this topic their profession.”
Source: Ambito
