News

11.09.18

Montevideo, Latin America’s third most livable city

Montevideo, Latin America’s third most livable city

Every year, The Economist’s Intelligence Unit ranks 140 cities on a scale of 1 to 100, based on a number of indicators, including standard of living, crime rate, transportation system, access to education and health, and economic and political stability.

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11.09.18

Uruguay signs agreement with China

Uruguay signs agreement with China

China and Uruguay signed a memorandum of understanding that enables the South American country to join the so-called “New Silk Routes.” Through this great global investment plan launched by Beijing, Montevideo hopes that Chinese firms will support infrastructure construction projects in the country.

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20.07.18

Growth in Industrial Exports

Growth in Industrial Exports

In June 2018 exports in the automobile and plastics industries were the most dynamic exports in Uruguay, with a total of US$ 405 million, representing an 11% increase in cumulative exports for the year.

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20.07.18

Foreign Investment in Logistics

Foreign Investment in Logistics

The multinational corporation Katoen Natie Logistics, which provides value-added services in logistics, invested US$ 10 million in our country together with its partner, the meat-packing plant Frigorífico Modelo.

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20.07.18

Investments in Infrastructure

Investments in Infrastructure

Investments in infrastructure for the year 2017 amounted to US$ 2.13 billion. This brings the combined total of infrastructure investments for the period spanning from 2015 through 2017 to US$ 6.9 billion. The largest investments in infrastructure in 2017 were in telecommunications, which at a total of US$ 154 million show the greatest growth. Thus in the three years between 2015 and 2017 investment in infrastructure in this field reached US$ 545 million.

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27.06.18

Uruguay with Stable Outlook and Credit Rating

Uruguay with Stable Outlook and Credit Rating

The country retains its second level investment grade, according to the financial risk rating agency. This is a major factor taken into account by foreign investors who are considering investing in the country. S&P affirmed Uruguay’s sovereign credit standing at BBB and rated its outlook as “stable,” thus indicating a solid foreign position for the economy despite dollarization levels.

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27.06.18

New Agricultural Office in China

New Agricultural Office in China

On Friday, May 11, the Uruguayan Embassy in China inaugurated its Agricultural Attaché Office to strengthen the Agricultural and Economic and Trade Department in the diplomatic mission in Beijing, and to consolidate the institutional presence of the country’s Livestock Ministry and Meat Institute in the Asian nation. The aim of this office is also to facilitate contacts between Chinese government agencies and local operators.

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09.05.18

Nine Percent Refund on VAT in Tourist Purchases

Nine Percent Refund on VAT in Tourist Purchases

Starting on Tuesday, May 1, residents and non-residents will receive the same 9 percent VAT refund on tourism-related purchases. This benefit consists of a value added tax reduction for tourism services provided to non-resident individuals and paid for with debit or credit cards issued abroad.

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09.05.18

Growth Projected by the IMF

Growth Projected by the IMF

The International Monetary Fund (IMF) issued its World Economic Outlook, April 2018 report, in which it projects that Uruguay’s economy will see a growth of 3.4 percent in its Gross Domestic Product (GDP) in 2018 and of 3.1 percent in 2019.

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09.05.18

Infrastructure Projects in Japan and Korea

Infrastructure Projects in Japan and Korea

Representatives of Uruguay XXI participated in a series of activities carried out in the month of April in the framework of two summits held in the capital cities of Japan and South Korea, where they promoted infrastructure projects.

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