By Peter Tase
Paraguay’s business leaders met April 19th with the President of Paraguay to begin a new initiative on how to better prioritize public policies for the betterment of the nation’s image abroad.
Proponents believe that the proceedings started by the current government have significantly attracted interest from foreign investors, in recognition of the country’s competitive advantages over other countries in the region, at a time when global capital seeking new destinations for investments in view of the crisis in the advanced economies.
The majority of Paraguayan entrepreneurs believe that in the past year, Franco’s government has significantly attracted interest from Foreign Investors due to the country’s fiscal climate and business friendly environment, with a relatively Young population, abundant natural resources, and second lowest foreign public debt in the region as well as tremendous reduction of corruption practices in government offices. Advanced economies are looking for additional investment opportunities at a time of persisting crisis experienced by developed countries. This is an opportune moment for Paraguay to ripe the advantages from potential projects that wait to be implemented in Paraguay under the framework of strategic international direct investments. Investors of Global magnitude cannot find a better country than Paraguay, expected to have an impressive economic growth this year and equipped with an attractive fiscal system and favorable business climate, which is unique in the region.
According to Carlos Jorge Biedermann, “Paraguay can double the level of food production with added value, it can become an important World player in industries such as food production thanks to the great fresh water resources. If [Paraguayans] believe that water is the principal strategic component, then it cannot be possible to let the contamination of water deteriorate. Appropriate government institutions should function as it is determined by laws.”
Biedermann added that “water is a source of a clean and renewable energy in Paraguay. This nation is free of natural catastrophes, and even where there floods and drought, this is a matter of further developing the draining and watering systems in the agricultural fields.”
Paraguay is a country that has everything available for a sustainable growth. There are business leaders visiting Paraguay from Vietnam, Russia, Israel, United States and France, who are willing to invest their capital and participate in this nations’ vibrant economy.
Local Business leaders have suggested four strategic items to address with the Paraguayan Government in the near future: 1. Assure clear rules and responsibilities for public officials who are in charge of stimulating foreign investment in Paraguay and ought to assist the foreign investor and not inhibit the implementation of his project, including judicial assistance; 2. Government – private sector partnership in development of large infrastructure projects; 3. Promotion of technical training for young and mid-level employees; 4. Clear domestic policy sanctioning the sustainable use of natural resources, so that all institutions would work to preserve natural resources.
Employers and business leaders have suggested the establishment of a national “strategy” that would serve as the road map for the present and future administrations, instead of having a new strategy every five years. By establishing a constant national strategy, Paraguay will be in the right path of economic growth and sustainability.