The Uruguay Country Brand promoted the importance of sustainability as a competitive advantage during the Forbes Sustainability Summit held on March 27 at the Hyatt Centric Montevideo. The event gathered business leaders, specialists, and stakeholders to discuss how sustainability affects competitiveness and business management.
A key panel titled “Country Strategy: Sustainability as a Driver of Competitiveness and Management” brought together representatives from both public and private sectors. They addressed challenges such as new regulations, international financing, and the growing use of environmental, social, and governance (ESG) criteria in investment decisions.
Panelists included Juan Labat from the Ministry of Economy and Finance; Benjamín Dreifus from Deloitte Uruguay; Larissa Perdomo, Country Brand Manager at Uruguay XXI; and Andrés Curbelo from Tres Cruces. The discussion was moderated by journalist Andrés Oyhenard.
Perdomo said that while Uruguay has a strong foundation in sustainability, there is still work to be done to fully integrate these principles into business management for greater competitiveness. “We’re in a strong position in terms of ESG criteria, but we need to go further to attract more investors, as this is a key factor we cannot overlook,” she said.
She explained that Uruguay XXI supports exporting companies through tools like the Country Brand licensing system—developed with LSQA—which makes sustainability central. “Uruguayan companies looking to export can access a free licensing system that enhances their competitiveness abroad,” she explained. This tool aims to “position the country through sustainable companies.”
More than 200 companies currently participate in this system across various sectors such as food and beverage, information technology, and services. Perdomo noted ongoing challenges with implementing sustainability: “It needs to be more fully integrated into business strategy, measured, monitored, and supported by clear indicators.” She also highlighted gender equity issues within leadership roles among certified companies.
Perdomo emphasized inclusion and gender equity as increasingly important factors for international buyers. “International buyers are paying close attention to these issues, which directly impact competitiveness,” she said.
She pointed out that global regulatory frameworks—especially those linked to the European Union—are making sustainable practices less an option than a requirement for market access. “With new regulatory frameworks… what was once a differentiator is becoming a requirement,” she explained.
The summit concluded with recognition of the Country Brand’s role in helping Uruguayan businesses align with international standards amid evolving market demands.
