The Investment Law Enforcement Commission (Comap) closed the year with numbers higher than those of 2021. It recommended investment projects to the Executive Branch for more than double the value of a year ago.
The Comap sent with recommendation projects for US$ 1,194.3 million, compared to US$ 534.2 million in 2021, with a significantly higher increase of 123%, according to the annual report published by the Ministry of Economy (MEF). Compared to 2019, the year before the pandemic, the amount of investment decreased. In that year they were US$ 1,544.2 million, which translates into a drop of 27%.
The consultant Exante made a breakdown of the ventures by line of activity.
In total they were 708 projects recommended to the Executive Power. The proposals for the sector of sightseeing There were 23 for US$37 million with an average investment of US$1.6 million.
The agriculture had 96 initiatives recommended for $92 million with an average of $1 million.
Camilo dos Santos
In the case of Commerce the projects were 231 for US$201 million and US$900 thousand on average.
The services they had 268 for US$641 million and US$2.4 million on average.
Lastly, the industry received 90 projects for US$224 million and an average investment of US$2.5 million.
Exante pointed out that “the amount of investment contemplated in the promoted projects increased compared to 2021 in all sectors of activity.” The consultant highlighted the services sector, which represented more than 50% of the total, and agriculture with investment, which tripled last year.
He also mentioned that not all the projects that receive a recommendation from Comap end up being completed and that, in any case, the investment that uses this tool is only a portion of all the investment projects that are developed in the country.
However, the consultancy clarified, the evolution of the investment that is presented to Comap is one of several indicators that indicate a willingness to invest.
“Therefore, it is good news to see an increase in the operation of this tool, which adds to the positive signs that other variables linked to investment show (marking that 2022 was a good year in this area, beyond the UPM effect Exante concluded.
investment attraction
Thursday, artigas cement inaugurated a new grinding and shipping plant in Lavalleja with the participation of the president Luis Lacalle Pou.
On that occasion, the president referred to the investments made in the country. He recalled that the initiative for the new factory of artigas cement went through Comap.
“It was presented in the midst of a pandemic. If there is something that was not there, it was optimism, uncertainty reigned. But the company, with national and foreign capital, said: we are going to present a Comap project and an important investment”, he said.
Ines Guimaraens
“The government has a vocation to attract investment. hhere is a record of Comap projects presented in 2022. Record of formalized people at work, which is very important, ”he said.
Lacalle Pou argued that Uruguay generates credibility, stability and long-term policies. This has as a result that while the world economy will grow between 2.6% and 2.7%, the local one will expand by almost double, he indicated.
“We hear that Europe is complicated, that Russia’s invasion of Ukraine brings consequences, the lower growth of China. I want to transfer an optimism based on real anchors. Uruguay is in excellent conditions to continue receiving investment”, concluded the president.
