Two important millionaire bets in the country stand out: Paracel and Omega Green.

The President of the Republic of Paraguay, Mario Abdo Benítez, participated in a working meeting at the Ministry of Industry and Commerce (MIC), where the head of the portfolio, Luis Castiglioni, and collaborators presented the results of the management 2021 and the objectives contemplated in the National Plan 2022. In this framework, the country's president highlighted that in 3 years and 8 months there will be approved investments of more than US$ 3,900 million. “We came to the Ministry of Industry and Commerce to start a series of visits that we are going to make to the different strategic portfolios, with two main objectives. One, the recognition of all the public servants and their work team, for all the difficult time that we had. Secondly, to make an evaluation of the management, taking into account the speed of the management of the public bureaucracy, the challenges and the planning”, he explained.

He stressed that there are very important events that were achieved during this administration within the MIC, for which he thanked Minister Castiglioni. The challenge for what remains of the government, to attract foreign investment and develop the country, was also analyzed. “Our great challenge at the beginning was to increase the visibility of Paraguay before the world in order to attract foreign investment that would come to change the dynamics and growth rate of the economy. The numbers we saw, despite the crisis we went through, are very auspicious," he said.

The President mentioned that the international results of the Getulio Vargas Foundation for the first time position Paraguay, on two occasions, as the country with the best business climate in the region. "These are also auspicious results in terms of public policies that generated predictability and reliability for investments in our country," he emphasized and also highlighted two important investments in the country: Paracel and Omega Green. The first is the pulp mill, the paper mill in the North, which represents the largest private investment in the history of Paraguay, US$3.2 billion; and the second, the industrial complex for the production of advanced biofuels, with an investment of US$ 800 million.

He mentioned that they discussed the importance of what was done in support of small and medium-sized companies, which played a fundamental role in the pandemic, where many adapted to be providers of medical supplies. Today there is the new Simplified Stock Company Law (EAS), which allowed, through a technological tool, to create 1,000 companies with zero cost. Another topic addressed was the installation of an aeronautical industry in Paraguay, Wega Aircraft, the first in the country to produce aircraft, he emphasized. He commented that Paraguay will be the second economy with the highest regional growth this 2021, according to ECLAC, clarifying that it will depend on how the weather is going and the covid-19 pandemic.

They plan to bet US$ 5,000 million

Some 28 foreign firms intend to invest in Paraguay, Minister Castiglioni announced.

In recent years, Paraguay has adopted business-friendly policies, which have aroused the interest of some 28 foreign companies that want to establish themselves in the country. The investment potential is 5,000 million dollars, as announced by the Minister of Industry and Commerce (MIC), Luis Castiglioni.

Castiglioni commented that these investment figures are numbers that were not known and are in line with the philosophy that the private sector becomes the main tool for wealth creation and development. He said that the friendly environment for business, macroeconomic and financial predictability, monetary discipline, investment incentives and the advantageous geographical location are the main tools that have attracted the attention of the potential investors mentioned above. He reported that currently the Investment and Export Network (Rediex) is monitoring each of the firms to learn about the expectations, facilities and requirements that they require to come to Guaraní soil. "We are giving them permanent accompaniment until it is completed," she remarked.

He specified that the negotiations are advanced so that Marfrig, world leader in the production of hamburgers, can build its first industrial plant in Paraguay in the city of Yby Yaú, in Concepción. Likewise, he spoke of the project to set up a high-tech aircraft assembly plant thanks to the articulation with the Ministry of Defense, the Armed Forces and the Directorate of Civil Aeronautics (Dinac). "The industry is going to settle in the Guarani airport and according to investors, between the end of January and the beginning of February the installation of the industrial plant will begin," he said. He stressed that this implies a great leap for the country.

Based on the data presented by the MIC, the IP portal highlighted the points achieved last year. In 2021, the maquila industry allowed the creation of 3,286 new jobs. For the first time, industrial exports from the maquila regime reached US$881 million and grew 54% compared to 2020.

During 2021, exports amounting to US$ 8,421.8 million were registered (excluding the electric energy item). This figure, compared to that of 2020 (US$ 6,305.6 million), reveals a growth in exports of 33.6%. In addition, 23 types of products exported in 2021 exceeded the threshold of US$ 50 million, corresponding to the items of fats and oils, bran, aluminum manufactures, medicines, bovine fat, paper and cardboard.