Foreign investment in Paraguay grew by 9% in 2020

RIO DE JANEIRO, BRAZIL – Paraguay was one of the few countries to record a 9% increase in foreign investment in 2020 amid the COVID-19 pandemic, reported Minister of Industry and Trade, Luis Castiglioni.

In Paraguay, Castiglioni said, the growth was 9%, with US$568 million destined for projects in that country.

Read also: Check out our coverage on Paraguay

The minister said the figures came from the United Nations Conference on Trade and Development.

“[The growth] is the result of a dynamic economy that has been following responsible macroeconomic policies for almost 18 years,” he said, pointing out that it was no coincidence that his country was among the few countries that did not lose investments during the pandemic.

In this regard, he pointed to the “major tax reforms” implemented since 2003 and the “very innovative laws” that encourage investment and create a favorable business climate and internationally recognized stability.

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