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CHINA DAILY MONDAY, Febru A r Y 4 , 2 0 1 3 uruguayspecial 15 Uruguaywww.infocusreports.com Latin America’s rising star Uruguay and China prepare to celebrate 25 years of excellent bilateral relations With a strategic location and a “Uruguay has huge potential and growing reputation as the gateway many investment opportunities. to Latin America and the massive Transport, ICT, port services and Mercosur market of 500 million energy are key sectors for invest- people, Uruguay is attracting record ment partners. We respect interna- foreign direct investment (FDI) as tional law and offer a range of invest- investors race to take advantage of ment incentives. China is our second the country’s excellent infrastructure largest trading partner and is a major and highly-skilled workforce. investor, particularly in automotive Home to 3.5 million people, Uru- manufacturing, so China’s presence guay has recorded average annual is very important and together we GDP growth of 5.3 percent since have achieved substantial growth.” 2003, thanks to a political stability A key player behind this success- that has enabled its export-oriented ful international trade partnership economy to flourish. is the Chamber of Commerce Uru- Rich in natural resources, Uru- Mario Bergara, President of Central guay-China which was formed in guay’s economy is focused on the Bank of Uruguay 1986 to strengthen and expand trade production and export of beef, between the two countries across all grains, dairy goods, wool and agri- and the leading foreign purchaser sectors, industries and markets. cultural products. of products like wool, soybean and “There is fluid and permanent President José Mujica Cordano paper pulp. In 2011, Chinese-Uru- contact with China,” said Chamber and Vice-President Danilo Astori guayan trade reached $3.4 billion, President, Eduardo Pietra. “Uru- have positioned Uruguay as a safe 20 times more than in 1988. guay has the reputation of a serious and secure investment destination In June 2012, Chinese Premier country where laws are followed and PHOTO PROVIDED TO CHINA DAILY through modern reforms and pub- Wen Jiabao traveled to Uruguay’s contracts are honored. There is an Uruguay’s Vice-President Danilo Astori greets Chinese leader Xi Jinping during a meeting. lic-private partnerships. capital Montevideo to meet lead- open market where entry and exit of money and foreign currency is absolutely free and that makes it very that is diversifying with the help of Uruguay At A Glance (Source: Uruguay XXI) Uruguay has huge potential and many attractive.” foreign investors tempted by the investment opportunities. Transport, ICT, port With the global financial crisis lucrative investment openings and Location: South America, bordering Argentina and Brazil services and energy are the main sectors continuing to limit investment pro-business environment. Capital: Montevideo where we are seeking investment partners.” opportunities in the Eurozone and “Uruguay is a wonderful plat- Land Area: 176.251 km² (95 percent of territory has soil suitable for the US, Uruguay is taking its own form for FDI because of its political agriculture and livestock activities.) DANILO ASTORI, URUGUAYAN VICE-PRESIDENT advantage to expand its reach to institutions, rules and enforcement Population (2011): 3.4 million other major international markets of contracts. It is also a great busi- Population growth (2011): 0.4 percent (annual) to remain competitive and make its ness platform from which to access Per-capita GDP (2011): $13,861 presence felt on the world stage. In Latin America and the world,” stated Currency: Uruguayan Peso ($) A key strategic partner is the ers and strengthen ties. Hailing his April 2012, Uruguay’s credit rating Central Bank of Uruguay President Literacy: 98 percent People’s Republic of China and in visit as a “milestone”, Vice-President was raised to investment grade sta- Mario Bergara. “We offer stability Life Expectancy: 77 years ‘February‘ 2013 the pair will celebrate Astori said he wants China to par- tus BBB- by Standard & Poor’s. and enjoy an excellent reputation for Government: Democratic republic with Presidential system the 25th anniversary of bilateral rela- ticipate in major infrastructure proj- The Central Bank of Uruguay transparency.” Time Zone: GMT -03.00 tions. China is Uruguay’s second ects like a new deepwater port and has helped the government create Official Language: Spanish largest trade partner after Brazil railway system. a stable and transparent economy InFocus provided the story Digital revolution connects continents leading promoter of social and eco- 2003 and 2011 to $4.2 billion and As a competitve and business-friendly ICT hub, nomic development through the the country is now a leading regional provision of ICT networks that use exporter of computer software, with Uruguay is the natural gateway to Latin America Chinese-made fiber-optic technol- its programs in smartphone and tab- ogy, Antel expected its turnover to let technology used by consumers in surge at least 10 percent year-on- China and other countries. The Uruguayan and Chinese on South America’s Atlantic coast) tives will participate in four major year in 2012. Antel has invested huge sums economies complement each other and next-generation ICT systems trade fairs in China this year to pro- Uruguay’s ICT systems are the in the latest fiber-optic technology perfectly, with the former a lead- make it a highly competitive services mote the “Uruguay Natural” brand most advanced in Latin America. and connected more than 240,000 ing producer of food and provider platform. that highlights its wonderful natural It has the highest rate of Internet homes to that network since Octo- of world-class services required by Uruguay XXI, the country’s resources and quality of life. users — nearly 60 percent — on the ber 2010. the latter’s giant industrial and com- investment and export promotion “Uruguay is a great gateway to continent and high rates of mobile Antel’s popular “Move Forward mercial base and fast-growing con- agency, is spearheading efforts to Latin America and can be a very phone ownership and computer Together” slogan emphasizes its interesting logistics hub for Chinese penetration in homes. commitment to bring the best companies that want to operate Central Bank of Uruguay Presi- technology to as many individuals, Uruguay is the perfect base for Chinese locally and sell their goods here and Carolina Cosse, President of Antel dent Mario Bergara believes heavy schools and businesses as possible. companies wanting to do business in elsewhere on the continent,” said investment in modern ICT systems As Uruguay looks to become the Latin America” Uruguay XXI Executive Director is one of the key factors for the con- region’s ICT hub, the company is Roberto Villamil. Uruguay’s modern transport tinued success of the banking and eager to team up with Chinese busi- ROBERTO VILLAMIL, EXECUTIVE DIRECTOR Of URUGUAY XXI “The country leads the way in infrastructure is supported by effi- financial services industry and has nesses to share market and techno- many regional rankings. It offers cient state-of-the-art ICT networks given the national financial system a logical know-how. legal certainty, institutional secu- that provide businesses with fast and platform on which to flourish. “Uruguay is in a cutting-edge sumer society. Uruguay also offers internationalize the economy by rity, low levels of corruption, a well- reliable fixed line, mobile and Inter- “Our telecommunications infra- position in the field of telecommuni- duty-free access to the massive strengthening Uruguay’s image trained workforce and good quality net access that is the backbone of structure is very good, with digi- cations in Latin America,” said Antel Brazilian and Argentinian markets abroad and promoting its many of life, as well as a strategic logistics commerce in the 21st century. tal communications networks and President Carolina Cosse. We have and benefits from a free trade agree- enviable assets to investors. location with economic transpar- The forward-thinking and pub- good competition,” he said. a Tier III data center — an inter- ment‘‘ with Mexico, while its modern Formed in 1996, the agency ency and tax benefits for investors. licly owned telecommunications Central Bank data shows the nationally recognized standard — transport and port infrastructures, attends many leading international “It is the perfect base for Chinese provider, Antel offers fast, efficient, export of services, including busi- which we are currently expanding.” free trade air- and seaport- zones trade shows and events around the companies wanting to do business in reliable and competitively priced ness, computer and information (Montevideo is the only free port world and its teams of representa- Latin America.” telecommunications services. The services, jumped six-fold between InFocus provided the story Central Bank of Uruguay CHINA DAILY MONDAY, Febru A r Y 4 , 2 0 1 3 uruguayspecial 16 Solid financial system Uruguay’s modern and transparent banking sector is growing at a robust rate With a focus on corporate banking stated Juan Carlos Chomali, Banco and project finance, Banco Santand- Santander Uruguay general manag- er Uruguay is the country’s largest er. “There are important legal guar- private bank and a recognized lead- antees and macroeconomic stability er in the republic’s well-regulated, in Uruguay – two vital factors for transparent and fast-growing bank- doing business in any country. ing and financial services sector. “The biggest part of our opera- Boasting a significant share of tion remains corporate banking the loans and deposit markets, the which is responsible for 51 percent forward-thinking bank is part of the of our business, but our overall aim world-renowned Grupo Santander is to achieve equality between our and offers businesses and individu- corporate banking and retail bank- als an extensive range of financial ing operations. The critical mass in services through its diverse portfolio corporate banking, the know-how, www.nirea.com.uy of financial products.