«Paraguay is ready to accelerate its development,» says Peña to foreign investors

Asunción, Agencia IP.- The President of the Republic, Santiago Peña, spoke to foreign investors about the country’s great potential. He considered that the current productive model, supported by technology, will be key to achieving the growth that drives Paraguay’s development.

The Head of State participated on past Monday in the Focus Panel on Latin America, organized by the Financial Times. «With great enthusiasm, we show Paraguay that it is coming, integrated and connected to the world, ready to accelerate its development with the great talent of its people,» he emphasized.

He mentioned that the country has advanced in recent years, but «we are very far from the Paraguay that we know we can develop.»

In this context, he indicated that Paraguay’s Government aims to turn the nation into the center of integration, supported by the international community, and above all, to give new impetus to commercial exchanges with other blocs.

«We want to take Paraguay from 6,000 to 15,000 dollars per capita, then focus on a series of reforms to bring us to the standard of the OECD countries; that is the standard we are looking for,» he commented.

On this point, the President spoke of the need to bet decisively on agriculture, including the export of beef and grains.

He foresaw that Paraguay, thanks to technology, would increase the productivity of the fields, allowing the same planted areas to generate more significant income.

«We believe that this productive model of raw materials with added value and technology will allow us to continue growing in this trend (…) but we believe that what will lead us to grow at rates in the order of 8 percent in the next few years is a pulp plant, and the installation of more industries for the production of green hydrogen or ammonia as a much more sustainable fertilizer,» he said.

In this regard, he commented that the installation of the first pulp mill, which is already in process, will allow the country to grow its Gross Domestic Product (GDP) by around 4 percent almost immediately.

The President emphasized again the importance of stability in attracting private-sector investors. He admitted that the businessman is looking for clear rules: «We have heard that everywhere, but he also wants what a President tells him to be sustained over time. Over the years, and I think throughout these 20 years, Paraguay has maintained consistency in its economic model, and here lies great strength,» he added.

«We also have the simplicity of the political system, which allows the decisions made by the Government to be sustained throughout the country much easier than the federal system,» he explained.

Finally, the Head of the Executive Branch ratified his administration’s commitment to continue investing in education, which is a key tool for growth and, above all, for promoting the well-being of Paraguayans.

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