Uruguay: LATAM's best business gateway
With the aim of positioning Uruguay as a strategic platform for the global services sector, Uruguay XXI is organizing the second edition of Uruguay Business Experience. The event is held in with the aim of attracting investments and as part of the after care plan with the companies already installed in the country. It will be held on 9th and 10th March and will include international conferences and visits to companies located in Uruguay.
Uruguay XXI, through Uruguay Smart Services, promotes the country as a strong ally to install operations as Regional Corporate Centers. In this context, the second edition of Uruguay Business Experience promotes Uruguay as a high quality regional hub at competitive prices. The call makes a special focus on Latin American prospects – particularly focusing on Brazil - the United States and Europe.
Uruguay Business Experience 2017 will be held on 9th and 10th March at the Hyatt Centric Hotel. On the first day, the opening ceremony shall include national authorities and conferences by both local and international experts. The advantages of Uruguay as a regional center for corporate services will be promoted and global, regional and market trends will be addressed. International participants will also visit the Free Zones, where they will gain firsthand knowledge of success stories of companies settled in the country.
Uruguay, an attractive destination for the installation of Shared Services Centers
Uruguay has established itself as a privileged destination for the location of corporate centers, which use the country as a "regional hub". BASF, Trafigura, Finning CAT, Sabre, Abbott and Syngenta are some of the multinational companies which have chosen Uruguay to install their Regional Corporate Centers.
The tasks developed in this type of centers are varied and include foreign trade, supply chain supervision, finance and accounting (accounts payable, accounts receivable, reporting), Human Resources management (payroll management, etc.), customer service (pre and post-sale), economic analysis, technology support and development, marketing, regulatory, fiscal and legal support, financial advice, R & D, among others.
In total, more than 50 corporate centers of global companies with recognized brands (operations with more than 20 people) have been surveyed, which generate 10 thousand qualified jobs. As an example, a shared service center with 300 positions entails an initial investment of approximately USD 8 million and annually spends about 15 million dollars on salaries, services, etc.
Uruguay is positioned as the most reliable and simple country to conduct business in a highly attractive region. It offers a favorable business environment, social, political and economic stability, endorsed by the main risk rating agencies. At the same time it is distinguished by its infrastructure and world-class communications, essential for this type of operations, as well as a high quality of life.
It is part of Uruguay’s public policies to be strongly committed to foreign investment and therefore the country has a highly favorable regulatory and tax framework, in compliance with international standards -tax compliance-: Free Trade Zones Act, Investment, Ports and Free Airports Acts. Foreign investors receive the same treatment as local ones, there are no restrictions for the repatriation of capital or dividends and the companies are free to operate in national or foreign currency.
Talent, a important value in this industry, is highly qualified for the tasks of the corporate centers and a high percentage has great command of the English and Portuguese languages. The government's capacity building policies range from the implementation of the Ceibal Plan (One laptop per child) to the financing of ad-hoc training programs for companies with export services operations installed in the country. The United States, Europe, Brazil and Asia (Japan/China) are the main markets for the promotion of Uruguay's value proposition.
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