The original report was published in the USA Today on Monday, January 31, 2011
‘A very positive opportunity’
Aside from promoting cultural exchanges, the U.S. Embassy in Uruguay can also help investors get started
David Nelson, U.S. Ambassador to Uruguay
“From the viewpoint of private investors and from the standpoint of the United States government, we see Uruguay as a very positive opportunity for investors,” he says. “We have one of the latest models of a bilateral investment treaty with Uruguay, which was signed in 2006, one that provides security for investors.”
The country’s status as headquarters of Mercosur affords it a strategic position as a logistics hub for the region and U.S. companies may use Uruguay as a tariff-free export distribution base. In addition, the government has plans for future investment in infrastructure, something in which many North American companies have already expressed interest.
Other areas the ambassador views as attractive for investors are adding value to agricultural, livestock, and dairy activities, as well as the non-traditional sectors that are helping to boost economic growth, such as software, technology, and call centers.
One of the embassy’s roles is to explain to investors what the situation is currently like, put them in contact with the right channels, and in the process, ultimately ease their worries over language barriers, administrative procedures, and bureaucracy. “We tell them the advantages and disadvantages that we see, we can facilitate contacts with government authorities and with other companies, but it is the investor who ultimately makes the decision,” says Mr. Nelson.
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