Reasons for investment
The government clearly supports and promotes investments in general and has a favorable approach towards foreign investment in particular. The general legislation regarding investments is totally open and there is no fiscal discrimination between local and foreign investment. Foreign investments are not subject to prior government approval.
Local regulations allow the repatriation of profits and capital without limitations. Likewise, there are no limitations to buy/sell foreign currency and the forex market is totally free as well.
Traditionally, Uruguay has provided a safe and reliable framework to the foreign investors through a clear legislation and a sustained economic stability. Furthermore, the country is an active member of International Organizations that promote the safety of foreign investments.
MAIN HIGHLIGHTS:
- Its political and social stability which is one of the highest in Latin America.
- Continuous investment and economic growth, regardless of the recent global crisis.
- Local labor has the best cost-benefit relationship within the Region.
- Tempered climate, absense of natural disasters and abundance of fresh water.
- Lowest business costs within Latin America related to crime and violence.
- Uruguay has the lowest corruption index in the Region.
The official name of the country is “República Oriental del Uruguay”, located in the southeastern part of the South American continent.
LOCATION AND BORDERS
Situated in South America between paralell 30º and 35º South, and between meridian 53º y 58º West. It borders with Brazil to the NE, with Argentina to the W and it has the Atlantic Ocean to the SE and with the Rio de la Plata to the S.
POPULATION
The population is 3.4 Mio inhabitants while 2.4 Mio of them live in the cpaital city Montevideo.
GENERAL POLITICAL APECTS
Uruguay is a presidencialist republic and the country in 19 Departments or Provincies. According to the recent ranking published by “ The Economist” is the only country fully democratic country in the continent with its population strongly supporting democracy. It is one of the countries in the region with the highest literacy rate close to 97%. It ranked 25 in the 2009 ranking of the least corrupted contries worldwide and is the second most peaceful country only after Canada.
WEATHER
The weather in Uruguay is moderate (average temperature is 17º C) ,with warm summers and moderate rainfall (Average annual rainfall is 1.100 mm.). As flat lands dominate the landscape, the weather is dominated by its latitude and the influence of the Atlantic Ocean. Winter is generally humid, very windy and cloudy. Similarly the warm weather is humid as well. This weather profile is adequate for cattle farming taking advantage of its vast grazing lands. The production peak occurs generally in Spring due to an optimal combination of moisture and temperature while winter is the typical low season.
MAIN PRODUCTS
Due to the exceptional quality of the soil, its benigne weather and its vast coastline, the country´s main production is primarily meat (cattle and sheep), honey, dairy products, hide, wood, coal, wool, seeds, oil seeds, olives and fish.
