Strategic negotiations were held with companies from dozens of countries during the exhibition
Paraguay: "Expo Dubai" is an opportunity to showcase our best to the world
Paraguay is participating in a program full of performances that highlight its heritage and culture at Expo 2020.
From the source
Estefania Laterza: "The UAE is a source of economic inspiration for leaders and entrepreneurs in our country."
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The National Director of the Investment and Export Network (REDX) at the Ministry of Trade and Industry of Paraguay, Estefania Laterza de los Rbo, confirmed that "Expo 2020 Dubai" is a very important event for her country, adding, "We look at the international exhibition as an opportunity to showcase our best to the world, To participate in a global gathering, building relationships and bonds that will advance the Paraguayan people, through new investments, trade and cooperation.”
And she added, "Through our participation in (Expo Dubai), we want the world to know that Paraguay is a welcoming and open country, with many opportunities and possibilities that everyone can explore."
She noted that Paraguay, which is participating in a program full of shows that highlight its heritage and culture at Expo 2020, has a strong and rapidly growing economy, including a stable currency, low inflation, strong macroeconomic indicators, abundant international reserves, and low external debt.
Over the past 10 years, foreign direct investment in this country has doubled.
Estefania Laterza told Emirates Today, "Paraguay is also characterized by an investment-friendly legal framework, which aims mainly to protect the investments of local and international investors, and a tax system that is the most simple and competitive in the region."
She stated that Paraguay is the only country in the region that does not suffer from a decline in its credit solvency during the ongoing epidemic, and that the impact on the growth of its economy was almost non-existent, as the percentage of decline in GDP did not exceed 0.6% only. “Because of all this, Paraguay is a leading country in the climate survey Investing in the region, according to the ease of doing business index of Getulio Vargas, a Brazilian think tank.
common ground
Estefania Laterza said that "there are great opportunities to enhance bilateral trade and investment flows between the UAE and Paraguay, and there is common ground that has the potential to drive economic growth in trade and investments, as the two countries are characterized by stable and open economies to the world with many potential business opportunities that can be explored."
And she continued, "Both countries are rich in energy, and Paraguay also has an abundance of water, natural resources and food, which may be of interest to entrepreneurs and investors in the UAE, who seek to diversify their international investment portfolio, and establish stable business headquarters for them in South America."
"Paraguay is on the same economic path that the UAE established decades ago, and we share similar concepts in our vision of national unity," she said.
The UAE is a source of economic inspiration for the leaders and entrepreneurs in our country.”
She said: "We hope that our participation in (Expo 2020 Dubai) will be a milestone in the march of future Paraguayan participation in international exhibitions, and we intend to see this participation as an exceptional event that highlights Paraguay's position as a new and active global representative."
We want this participation to form an essential part of an effective strategy that shows the world that Paraguay is a reliable partner with amazing potential and attractive competitive advantages that should be explored and taken into consideration by the main economic players in the UAE and from around the world.
We also hope that our country will be able to increase the trade and investment opportunities that derive from its active participation in this global exhibition.”
Standard turnout
The National Director of the Investments and Exports Network revealed that they had recently held an investment event at Expo 2020 called Commercial Opportunities in Paraguay to review what it offers in all its strategic sectors. "We were surprised by a record turnout of the event; Which is an indication of the great interest by the investor community towards Paraguay and the advantages it offers. After the event, I held strategic negotiations with several companies from dozens of countries regarding their interest in investing in strategic sectors in Paraguay, and we are still receiving requests for meetings. We are planning to hold other commercial events which will be announced soon. We also seek to hold an event to demonstrate the high quality of Paraguayan meat and food exports, as well as a networking session with delegations of Paraguayan businessmen.”
She noted that the bilateral trade between Paraguay and the UAE in 2020, amounting to about $75 million, means that there is much room for improvement.
And she indicated that, according to the Paraguayan Central Bank, the value of foreign direct investments in Paraguay by the end of 2020 amounted to about $6.1 billion, which is very diversified and distributed over several economic sectors.
In order to attract more foreign direct investment, Paraguay wants to show the world the advantages it possesses and the reasons that make it the preferred business center for investments in South America, according to Estefania Laterza, who explained: “Our country has a variety of sectors and potential investment opportunities, and sustainable investment opportunities in different sectors, In addition to a portfolio of investment opportunities in construction, energy and infrastructure projects.
We currently have large investments in sectors, such as wood and others, with about $3.2 billion from a Swedish-Paraguayan company.”
• $6.1 billion, the value of foreign direct investments in Paraguay at the end of last year.
• $75 million, the volume of bilateral trade between Paraguay and the UAE in 2020.
green investments
The National Director of the Investment and Export Network (REDEX), at the Ministry of Trade and Industry of Paraguay, Estefania Laterza de los Rbo, said that her country is going through an industrial revolution, witnessing high-tech manufacturing operations in several areas.
"We are finally witnessing great interest in green hydrogen investment projects, through five projects with a total value of $3.5 billion, and we know the UAE's strong interest in this sector as well, so we invite all Emirati investors to look at Paraguay as an attractive option to diversify its portfolio to include green investments," she added.