News

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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16.11.17

Automotive industry gains momentum

Automotive industry gains momentum

Uruguay has a vast experience in vehicle assembly and parts manufacturing, with several plants established in the country, both with national and foreign capitals.

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16.11.17

Financial system strengthened

Financial system strengthened

The Uruguayan financial market finds itself in a period of solid development, soundness, high liquidity, and strong performance, in line with the economic growth the country has enjoyed in recent years.

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28.07.17

2017 Quarterly DFI Monitor

2017 Quarterly DFI Monitor

According to the latest report on direct foreign investment (DFI) in Uruguay, the origin of investments in our country is distributed as follows: Argentina (28%), Germany (11.2%), Brazil (8.2%), Italy (7.8%), Belgium (6.6%), Canada (4.7%), and New Zealand (3.5%), among others.

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28.07.17

Uruguayan Economy Growing at a Faster Pace

Uruguayan Economy Growing at a Faster Pace

Uruguay’s economic growth picked up speed in the first quarter of 2017, with an expansion in most sectors of activity, fueled mainly by consumption and exports.

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28.07.17

Promoted Investment Projects on the Rise

Promoted Investment Projects on the Rise

In the period from January to May 2017 203 projects were recommended by the Investment Act Implementation Committee (COMAP), for a total value of US$ 371.8 million. This represents an increase of 60% in the number of initiatives sponsored by the COMAP.

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