Uruguay – Free Zones, Agribusiness and Real Estate: The Growing Sectors

Over the last five years, Uruguay has seen a continued growth in the development of each of the above sectors.

1. According to figures recently disclosed, operations in the free zones represent roughly 4% of the Gross Domestic Product. There are approximately 1,300 companies established in the free zones, which employ almost 9,000 people. As of today, Uruguay has 12 free zones. Two of the most important investment projects currently under way — Finish Botnia and Spaniard ENCE (both in the pulp industry) — have established themselves as free zones.

2. Uruguay’s stability and agrarian tradition, coupled with the increase in the commodities international prices, have determined a steady growth in the rural real estate transactions and in the agribusiness activity. It is estimated that in the year 2008 milk production will grow 8%. Over the last twelve months, the production of corn, sorghum, soybean and sunflower has grown 44%, 36%, 3% and 4% respectively.

3. Construction in Punta del Este, the famous Uruguayan resort, is booming. In 2007, real estate transactions in Punta del Este represented 9% out of Uruguay’s total operations in the real estate sector. As of today, US$ 1 million per day is invested in construction in Punta del Este.

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