Uruguay - Market OpportunitiesUruguay - Market Opportunities
Uruguay has well-functioning democratic institutions, a rule-abiding population, and relatively little corruption. In 2018, Uruguay was ranked 23 out of 180 countries by Transparency International due to low levels of percived corruption. Uruguay has a strong banking sector which adheres to the latest international financial-sector standards. Uruguay is strategically located, and is politically and economically stable. The current administration maintains relatively open trade policies and good macroeconomic policies. Elections took place in October 2019. There was no clear winner in the first round, so a second round of voting will occur in November, 2019.
Top non-commodity exports to Uruguay are: cellular phones, information technology, medical equipment, chemicals, and medicines.
Uruguay offers good opportunities to serve as a test market for the region, given the small sample size, respect for the rule of law, and stable investment climate.
In 2011, the Uruguayan Parliament approved a Public-Private Partnership (PPP) law to attract more foreign investment, mainly in much-needed infrastructure projects.
Uruguay’s close proximity to larger markets and Uruguay’s Free Trade Zones give the country the ability to serve as a regional distribution hub.