President Santiago Peña said that Paraguay’s characteristics make it the best country to invest in globally. During the opening of the XV Paraguay-Brazil Expo today, he said that the event is the gateway for many investors from Brazil, the main source of foreign direct investment.
“Paraguay has tirelessly proven to be predictable and safe for investments; with low inflation, a competitive exchange rate and legislation favorable to foreign capital,” he said during the event that also brought together the Brazilian Foreign Minister, Mauro Vieira, and the Minister of Mines and Energy, Alexandre Silveira.
He highlighted the figures of the economic and commercial relations between both countries: more than US$ 1 billion in direct investments, more than US$6.5 billion in trade balance in 2023, and exports to the neighboring country for US$3 billion.
“It is therefore essential that we continue to strengthen this historic relationship by creating synergies that allow us to mutually enhance and improve our competitiveness at a regional and global level. The complementarity between our economies represents an enormous potential to strengthen production chains and foster sustainable development,” added the Paraguayan president.
Peña also highlighted the recent acquisition of investment grade by the rating agency Moody’s, “which sends a strong message to investors around the world about the reliability of our country.”
Regarding the Paraguay-Brazil Expo, now in its fifteenth edition, he indicated that it is a gateway for investors and an opportunity for companies from both countries to showcase their products and services and establish alliances.
For his part, Brazilian Foreign Minister Mauro Vieira said that Paraguay is a very important ally, both commercially and politically. Brazil is faithful to its integrationist vocation, he said, and as proof of this he mentioned the invitation made by President Luiz Inácio Lula Da Silva to Peña to participate in the G20 Summit, which will take place in Brazil on November 18 and 19.
