Asunción, Agencia IP.- Javier Giménez, Minister of Industry and Commerce (MIC), highlighted the increase in investments under special regimes and the importance of maintaining a tax system that fosters competitiveness and attracts investments to the country.
One of the most attractive incentives for entrepreneurs when injecting their capital into the country is low taxes, which, combined with stable macroeconomics, make Paraguay a safe territory for foreign capital.
On this point, the Minister of Industry and Commerce (MIC), Javier Giménez, spoke in an interview with a local media outlet, where he stated that «the country is on a path from which it should not deviate,» highlighting Paraguay’s competitiveness in the region.
However, he also emphasized the need to offer other incentives, such as skilled labor and adequate infrastructure, to attract investments and strengthen various industrial sectors.
Minister Giménez pointed out that the appropriate level of taxes is like a «fine thermometer,» which must balance competitiveness and the state’s ability to finance the necessary infrastructure. In this sense, he highlighted the efforts of the Paraguayan Government to attract foreign investments, with increasing interest from European companies in sectors such as the forestry and energy industry.
Regarding landing large-scale investments, the Head of the MIC mentioned that large-scale projects are underway that will significantly transform the economy and industrial landscape.
«With these projects, such as Paracel in Concepción and Omega Green in the forestry sector, a multiplier effect is expected to be generated in the economy, boosting demand for services and creating employment in various regions of the country,» Giménez said.
Similarly, according to the MIC press release, the Minister emphasized the importance of coordination between the public and private sectors to ensure the success of these investments and the development of the necessary infrastructure for their implementation.