2022 Invest in Paraguay Forum begins today
The 2022 Invest in Paraguay Investment Forum begins today in Asunción, Paraguay.
The two-day summit aims to promote the business climate in Paraguay. Today’s discussion focuses on the need to improve foreign direct investment (FDI) to drive sustainable development and present business opportunities in booming industries. The summit will bring Paraguayan President Mario Abdó together with the Spanish Confederation of Business Organizations (CEOE), foreign firms and regional development agencies.
The summit comes as Paraguay met alongside MERCOSUR members in July to stress the importance of free trade agreements for the region. Macroeconomic stability, competitive labor costs, attractive investment incentive laws and its geographical and cultural proximity to large South American markets makes Paraguay one of the best-positioned countries in the region for FDI. The Central Bank of Paraguay reported FDI had increased to US$6881 million in 2020, which represented an increase of 8.9%.
Expect the summit to result in partnerships between the Paraguayan government and foreign firms in the short term. Investment will likely be made into sectors with the largest growth potential, especially agriculture, textiles and pharmaceuticals. Furthermore, Paraguay will likely produce a strategic economic plan in the medium-term with the aim of transforming it into a regional investment hub.
