Last year there were 47 investment announcements, of which 33 were new and 14 were mergers and acquisitions, according to the report. In addition, 706 initiatives were received within the context of the Investment Law Enforcement Commission, for an amount of 1 billion 194 million dollars.

Also according to the report, the key factors for investing are macroeconomic, political and social stability, institutions, tax exemptions and incentives, exchange freedom and the ease of repatriating dividends.

According to the Minister of Industry, Energy and Mining, Elisa Facio, the interest of foreign companies in Uruguay is also explained by access to qualified human resources, the quality of infrastructure and renewable energies.

A survey by the Siglo XXI Institute was presented during a meeting with the press, covering 235 foreign companies, of which 84 percent expressed satisfaction with the investment oulook.

The survey indicates that 40 percent of the firms consider it highly likely to make new investments in Uruguay in the next five years.

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