Paraguay exposes new opportunities to attract the interest of Brazilian enterprises

Asunción, Agencia IP.- “Paraguay is working on formalizing its economy, diminishing the evasion and improving the public expense without increasing its tax structure”, affirmed the Vice President of the Republic, Pedro Alliana, during the opening of the Expo Paraguay-Brazil. He pointed out that the government aims to eliminate some fees to reduce bureaucracy.

During his intervention, Alliana highlighted that the friendship ties and relations between Brazil and Paraguay were ratified through the Expo. “We are determined to formalize the economy, diminishing the evasion and improving the public expense. It is not in our economic agenda to increase taxes. On the contrary, we will eliminate some fees to reduce the bureaucracy”, claimed Alliana.

Alliana also emphasized the competitive advantages that Paraguay offers to investors. “We are a stable country with low inflation, a competitive currency and favourable legislation for the foreign capital. We offer protection to the investors through bilateral treaties that guarantee fair treatment”, he detailed.

“Paraguay also has special regimes that grant tax and customs benefits to companies that are dedicated to productive activities such as maquila and Law 60/90 on free zones”, he highlighted.

“These regimes allow enterprises to access international markets with competitive advantages by reducing their operative and tax costs. We also have diversity on importation and exportation that goes from the traditional such as agriculture, cattle and energy, to the emerging ones like industries, services, technology and tourism”, he commented.

Alliana also stated that Paraguay is offering new opportunities for Brazilian enterprises to take advantage of the geographic and cultural closeness with Brazil, privileged logistics through the waterway Paraguay-Paraná, the availability of young qualified labour and the similarity of economic adhesions of both countries.

“We have a win-win vision in the relations with Brazil, based on mutual respect, cooperation and integration”, remarked the Vice President.

Paraguay and Brazil are historical and strategic partners in the Mercosur, South America’s most important commercial block. We also share infrastructure, social development, environmental, security, defence, culture and education projects.

“We recognize Brazil’s regional and international leadership and value its support to Paraguayan development and the treatment we receive from President Lula da Silva. We appreciate the understanding between both Presidents based on mutual respect. And I am sure that this will help strengthen even more the relations of both our countries”, he finally expressed.