Paraguay aims at becoming a logistics hub through foreign investment

The President of the Republic, Santiago Peña, met with foreign port investors who intend to build Uruguay’s largest grain terminal, a venture that will benefit Paraguay by boosting the construction of barges and, consequently, the national workforce.

This announcement was made by the Minister of Industry and Commerce, Javier Giménez, who accompanied Rubén Martínez and Angeliki Frangou, representatives of Navios Maritime Holdings.

During the meeting, the Minister of Industry and Commerce (MIC) explained that the multinational company plans to invest USD 300 million in Uruguay to construct the largest terminal for mineral transshipment.

“This will be tremendously beneficial for Paraguay because it will seriously boost our barge construction industry and create jobs for the Paraguay people. We have the third-largest fleet of barges in the world,” he mentioned during a press conference at Mburuvicha Róga.

He emphasized that with this substantial volume passing through the waterway, Paraguay is poised to become the regional hub for logistics services, significantly increasing port-related and river transportation employment.

He referred to ongoing port investments in Paraguay in logistics transportation through barges and investments in Uruguay, particularly the transshipment project they have in mind for the multinational.

Angeliki Frangou, in turn, appreciated the President’s openness and noted that the Government’s outlook encouraged her to continue investing not only in Paraguay but also in Uruguay, within the entire waterway complex.

“Logistics equals integration. Using the world’s third-largest fleet of barges with transshipment in Uruguay is why countries have come together to create an efficient, free-flowing waterway that promotes opportunities and development for the people,” she concluded.

Source: Agencia de Información Paraguaya

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