IDB supports investment for Uruguay
The Inter-American Development Bank (IDB) has approved a $550 million operation for Uruguay to fund the Program for Strategic International Positioning, which aims to substantially increase investment and exports by strengthening the regulatory and institutional framework, promoting and facilitating trade, and boosting entrepreneurial innovation. "This operation is part of a comprehensive and long-term effort that the Bank has been carrying out in the country in the field of investment promotion and trade facilitation, which includes both technical and financial support," said Pablo García, IDB project team leader.
One program component will support Uruguay's efforts to consolidate a set of sweeping reforms designed to strengthen the overall policy framework for attracting investments.
Other activities include the signing of bilateral investment and trade treaties to prevent double taxation. This will improve transparency in the taxation of investment in line with global standards of fiscal transparency.