Paraguay's commercial attaché to Argentina, Sebastián Bogado, and Martín Ruiz, head of the International Promotion Center of the Industrial Union of Paraguay, recently discussed investment opportunities in Paraguay during the "ILEX – Inspiring Export Leaders" workshops. The event was organized by the International Cooperation Agency of Santa Fe, Argentina.
Martín Ruiz signed a cooperation agreement with Cristian Fiereder, president of the Industrial Union of Santa Fe. This partnership aims to facilitate knowledge transfer among industrial entrepreneurs in Santa Fe.
Ruiz stated, "We want Santa Fe's industrialists...to see Paraguay as a complement to their competitiveness." He emphasized that the Paraguayan market demands innovative products and food but lacks machinery production capabilities.
Ruiz also highlighted the logistical importance of Santa Fe for Paraguay due to its location along a crucial waterway. He said, "Logistically, it's crucial for the country because the waterway passes through here."
Discussing macroeconomic stability and legal security in Paraguay since 2002, Ruiz acknowledged logistical challenges due to Paraguay's landlocked position. He noted that small markets like Paraguay focus on added value and services to attract investments.
Sebastián Bogado explained that Paraguay is less bureaucratic compared to neighboring countries and offers support through organizations like Rediex for foreign investors setting up businesses. He noted that while bureaucracy exists, being part of Mercosur simplifies processes.
Bogado also addressed adding value to Paraguayan exports: "Our first task was in the 90s...demonstrating how a country has managed to add value." He mentioned growth in sectors like auto parts exports.
On renewable energy initiatives, Ruiz mentioned exploring options including a thermoelectric plant in Chaco. Meanwhile, Bogado emphasized commitment to solar energy: "Generating electricity with solar panels is Paraguay's great commitment."
Interest from regional investors is growing according to Ruiz and Bogado. Ruiz cited partnerships with Santa Fe companies since 2019. Bogado noted increased Argentine interest in textiles and other sectors like auto parts.
Both officials see opportunities for workforce training through technical schools as vital for supporting industry growth.
Alerts Sign-up