The Vice Minister of Industry, Marco Riquelme, said that strengthening traditional sectors to make the leap to more advanced technologies is key to Paraguay’s industrialisation process. This is accompanied by public policies that promote industrial investment.
He also spoke about the promotion of the textile industry, a sector that he considers to have great potential due to its high demand for labor and which shows that the country can be a competitive textile production center.
He also commented on the work to strengthen the maquila system, a tool that Paraguay offers to investors and that allows foreign companies to produce in Paraguay with tax advantages.
He said that this system already generates thousands of jobs and could be a way to consolidate the national industry, especially in sectors such as the automotive and electronics manufacturing.
Riquelme stressed the importance of promoting industrial parks as a key solution to overcome certain barriers such as the lack of adequate urban planning, which hinders the expansion of industries in urban areas.
Paraguay’s Industrial revolution
The Vice Minister also said that Paraguay’s transition must be gradual, training human capital and ensuring that future generations are prepared for the challenges of modern industry.
In his opinion, Paraguay should look at its trade balance with Mercosur, where the country’s position as an exporter of raw materials should be reversed and it should become an exporter of products with added value, that is, industrialised.
Finally, he indicated that the government seeks to lay the foundations for a true industrial revolution in Paraguay, with clear goals such as job creation, promoting competitiveness and positioning the country as a key player in the region, reported the Ministry of Industry and Commerce (MIC).
