Asunción, IP Agency.- The foreign media One World Media has highlighted Paraguay as one of the most promising business destinations in Latin America, highlighting its macroeconomic and political stability, its natural resources and its strategic position.
This recognition comes after decades of accelerated growth and policies that have transformed the image of Paraguay at the regional and international level.
According to said media outlet, Paraguay has shown notable economic growth, with a GDP increase of 4.7% in 2023, exceeding the South American average of 2.2%.
The country has become a key exporter of agriculture, livestock and electricity, benefiting from its abundant hydropower and vast lands. Its strategic location has been vital, connecting the main markets in the south of the continent and serving as an intermediate point between the Atlantic and Pacific oceans, facilitating 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, along with an openness to international markets and a competitive tax system. The maquila law, which offers tax benefits for the production and export of goods, has been instrumental in attracting investment.
The Peña administration has prioritized regional and global bilateral ties, promoting binational agreements such as the recent one with Brazil on the energy tariff for the binational Itaipú hydroelectric plant. This agreement, described as a historic achievement, establishes an increase of 15.4% from 2024 to 2026 and lays the foundations for renegotiating future energy commercialization terms.
Another key agreement was the reopening of the US market to Paraguayan meat after 25 years, reflecting the efforts of the meat sector to certify the quality of its product. Simultaneously, the Canadian Food Inspection Agency (CFIA) approved Paraguayan meat for its market, and exports to Mexico are being negotiated.
At the multilateral level, Paraguay, under the Mercosur presidency of Peña, has begun negotiations with Japan for a free trade agreement, focusing on shared interests such as trade in food, renewable energy and technology. This effort follows similar agreements with Singapore and others under negotiation with the United Arab Emirates, China and the United States.
Paraguay is also committed to sustainable development. With one of the lowest greenhouse gas emission rates in the world (0.1%), the country stands out for its use of 100% renewable energy and projects such as the future Omega Green biorefinery. Other projects include the country’s first industrial pulp mill and a historic decree prohibiting the opening of new gas stations in urban areas to protect waterways.
Additional initiatives, such as reforestation that has increased 300% in the last 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 committed to sustainability.
Paraguay is making significant advances in sustainable development and strengthening its international presence. With these achievements, the country consolidates itself as an emerging leader in Latin America, prepared for a future of sustainable growth and prosperity.
