Asunción, Agencia IP.- The foreign media outlet One World Media has highlighted Paraguay as one of Latin America’s most promising business destinations, emphasizing its macroeconomic and political stability, natural resources, and strategic position. This recognition comes after decades of accelerated growth and policies transforming Paraguay’s image in the regional and international arenas.
According to the media outlet, Paraguay has shown notable economic growth, with a GDP increase of 4.7% in 2023, surpassing the South American average of 2.2%. The country has become a key agricultural, livestock, and electric power exporter, benefiting from its abundant hydroelectric energy and vast lands. Its strategic location has been vital, connecting major markets south of the continent and serving as an intermediate point between the Atlantic and Pacific Oceans. It facilitates regional and global integration projects such as the Bioceanic Corridor and the Paraguay-Paraná Waterway.
President Santiago Peña has emphasized the importance of public policies, highlighting sustainable development, openness to international markets, and a competitive tax system. The Maquila law, which offers tax benefits for producing and exporting goods, has been instrumental in attracting investments.
Peña’s administration has prioritized regional and global bilateral ties, promoting binational agreements such as the recent one with Brazil regarding the energy tariff of the Itaipú binational hydroelectric plant. This agreement hailed as a historic achievement, establishes a 15.4% increase from 2024 to 2026 and lays the groundwork for renegotiating future energy commercialization terms.
Another key agreement was the reopening of the U.S. market to Paraguayan beef after 25 years, reflecting the efforts of the meat sector in certifying the quality of its product. Simultaneously, the Canadian Food Inspection Agency (CFIA) approved Paraguayan beef for its market, and negotiations for exports to Mexico are underway.
In the multilateral arena, Paraguay, under Peña’s presidency of Mercosur, has initiated negotiations with Japan for a free trade agreement, focusing on shared interests such as food trade, renewable energies, and technology. This effort follows similar agreements with Singapore and ongoing negotiations with the United Arab Emirates, China, and the United States.
Paraguay is also committed to sustainable development. With one of the world’s lowest greenhouse gas emission rates (0.1%), the country stands out for its use of 100% renewable energy and projects like the future Omega Green biorefinery. Other projects include the country’s first industrial pulp mill and a historic decree that bans opening new gas stations in urban areas to protect waterways.
Additional initiatives, such as a 300% increase in reforestation over the past seven years and the country’s first Tetra Pak recycling plant, underscore Paraguay’s commitment to environmental sustainability. These efforts have positioned the country as an attractive destination for companies dedicated to sustainability.
Paraguay is making significant strides in sustainable development and strengthening its international presence. With these achievements, the country is consolidating itself as an emerging leader in Latin America, poised for a future of sustainable growth and prosperity.