Republic of Paraguay hosted Investment Conference; Keen to boost trade and investment links with Middle East and Asia

The South American country, Republic of Paraguay, hosted an investment forum on December 08^th at Expo 2020, as part of the country’s strategic focus on attracting inward investments to the landlocked country and fostering bilateral relationship with the Middle East and Asia. The event was graced by H.E. Ambassador Estefania Laterza, National Director of Investment and Exports Network Rediex, Federico Sosa Otero, Investment Attraction Director Investment and Exports Network Rediex and José Aguero Avila – General Commissioner, Republic of Paraguay Pavilion for Expo 2020, along with representatives from the government of the UAE.

In the keynote address, H.E. Ambassador Estefania Laterza, National Director of Investment and Exports Network Rediex highlighted country’s investment ecosystem and said “Paraguay has a business-friendly environment and a good quality of life for investors who decide to live or visit the country. Paraguay offers an array of opportunities in terms of leisure, sports and the most captivating ecotourism and adventure travel experiences.”

“In addition, the country has a privileged location given the confluence of two important rivers in its territory and the fact that it is situated along the inter-oceanic corridor which grants access to the most important ports and markets in the region, such as Brazil and Argentina. Paraguay has a youthful, competitive human resources.” she added.

The Republic of Paraguay is expected to have a greater economic growth in Latin America between 2021 and 2024. The economy has shown little to no impact to external factors, even when the world was battling a health emergency. The country also boasts lowest indirect and corporate tax rates in the region along with guarantee to the right of property, equal treatment of national and foreign investments, freedom of exchange and free trade.

While addressing the attendees, H.E. Ambassador Estefania Laterza further elaborated on the benefits of investing in the Republic of Paraguay and quoted “Paraguay is open to all and has always encouraged foreign direct investment. An invest of as low as US$ 70,000 can also help you acquire a permanent residence. The country has several laws and regulation that provides extensive benefits to investors, which includes reduction or exemption of national taxes, guarantee of tax stability for a period of up to 20 years, depending upon the kind of investment, reduction of VAT on sales in the local market and reduction of real estate taxes, industrial patents in the development of factories to stimulate the establishment of industrial companies in areas that needs to generate development and therefore jobs and social and economic welfare.”

Paraguay is taking part at the EXPO 2020, under the theme of `creating sustainable development opportunities,’ with focus on connecting water, renewable energy and mobility. Paraguay’s principal exports are food and hydroelectricity, and the country is one of the top exporters of soybeans in the world. Paraguay, ranked as the `world’s happiest place,’ at the Expo Dubai is looking at exploring investment opportunities and the strategic potential of water in generating renewable energy.

About Paraguay Pavilion

Paraguay pavilion is located in the Mobility District of Expo 2020. It showcases the country’s scenic landscape and its resources and portraits an authentic Paraguayan experience through imposing artworks. Throughout the whole experience underlies the theme of the country “Water linked Paraguay” and it also offers a taste of its culture through the country’s ethnic music and dance forms.

Paraguay is the largest producer of renewable energy in the world: 100 % of the energy it produces is renewable. Paraguay is one of the largest food producers in the world as well. The country has the third largest river barge fleet in the planet which allows it to connect to the world through its rivers flowing into the Atlantic Ocean. Through water, Paraguay not only produces clean energy but also makes its production reach the world. The country was also ranked as the ‘world’s happiest place’.