The recent obtaining of investment-grade granted by Moody’s will, without a doubt, mark a before and after in the economic history of Paraguay, writes Natalia Cáceres Martínez, the Executive Secretary of the National Council of Export Maquiladora Industries.
Why? Because it not only reaffirms its economic stability, it opens up a range of opportunities for a sector that plays a transcendental role in the industrial and economic development of the country, the Maquilador.
The Maquila regime has been essential for Paraguay’s industrial growth in recent years, currently representing 67% of the country’s total exports of manufactured products. It also generates more than 26,500 direct jobs and exports more than USD 1 billion annually. This sector not only promotes industrialisation, export diversification and the opening of new markets, but mainly attracts investments, generates formal employment and foreign exchange earnings to the country.
From the CNIME Executive Secretariat, we are convinced that the granting of investment-grade status, Firstly, it sends a clear and positive signal to international investors about the strength and growth potential of Paraguay. In addition, it will consolidate us as one of the most reliable and attractive countries to do business in the region, facilitating the promotion of exports of maquilinated products and opening new market opportunities.
This will also positively impact the maquiladora companies that operated in our country several years ago, since this certification will give them greater opportunities to expand their operations, diversify its production and access new global markets. They could also access lower credits to expand their operations, invest in technology and improve their infrastructure, which will impact an increase in their competitiveness.
In other words, the status of investment-grade is not only a seal of international approval, but also a powerful tool that will allow the Paraguayan maquiladora sector to grow, diversify and consolidate as a key engine of the country’s economic development. We are sure that, with more investments, better financing conditions and greater confidence in Paraguay for potential investors, the maquiladora sector is ready for a promising and opportunity-filled future.
