LATAM : Foreign Investors Survey 2017
To each country its attractiveness
All the lawyers surveyed find attractiveness in their respective countries , whether it be economic , labor , fiscal , political , energetic , geographical and even touristic or culinary ! In addition , all governments tend to encourage foreign investment , especially in recent years , although some do not support their claims with a regulatory and political environment favorable to investment , as we will see .
Countries such as Argentina , Chile , Costa Rica , Guatemala , Paraguay , Peru , Dominican Republic and Uruguay point out that their countries are living in a favorable political and economic situation with a strengthened democratic system , and a government that encourages investment and the rules of trade and deter corruption .
The political changes in Argentina at the end of 2015 with the appointment of Mauricio Macri have meant a drastic change for the country . In this regard , Carlos María Tombeur , Partner of Severgnini Robiola Grinberg & Tombeur , comments that in Argentina the exchange market has been liberated , the sovereign default has been solved , inflation and the fiscal deficit have been reduced , and public utility rates have been corrected . “ Opportunities occur in a more favorable environment to bring the levels of investment - lower in recent years – to that of other countries of the Region in the last decade ( Chile , Peru , Colombia , Brazil , Uruguay ),” stresses the lawyer .
The Government of Ecuador encourages public-private partnerships , while Honduras has launched the Honduras 20 / 20 Program to attract foreign capital . Fanny Rodríguez , Partner , and René Serrano , Arias Associate explain that the program “ aims to attract foreign capital in the amount of 13 billion US dollars to be invested in the four areas of greatest economic growth in the country ( tourism , textiles , intermediate manufacturing and business support services ) resulting in the creation of 600,000 new jobs by 2020 . This initiative , the largest in Honduras ’ history , will be carried out with the support of private companies and McKinsey .”
“ The Honduras 20 / 20 program aims to attract foreign capital for US $ 13 billion and creating 600,000 jobs by 2020 .”
FANNY RODRÍGUEZ , PARTNER , ARIAS
Nicaragua , Panama , Paraguay and Uruguay have also established tax incentives and rules that are prone to foreign investment .
Panama has the Colon Free Zone , a free zone that offers many jobs to nationals and foreigners , while Paraguay has the lowest taxation rates in the Region and Uruguay is one of the countries that is most open to Foreign Direct Investment in Latin America , receiving annual flows of 5 % GDP .
On the other hand , good preparation of human capital is a very important factor in Chile , Costa Rica and Nicaragua , while El Salvador has an abundant , proactive and labor-intensive workforce .
“ El Salvador is a country of many opportunities , there are no barriers to foreign investment , we have a dollarized economy and the legislation is clear on the requirements needed to enter regulated markets , such as Energy , Telecommunications and Banking .”
LILIAN ARIAS & ZYGMUNT BRETT , CO-MANAGING PARTNERS . ARIAS
“ Perhaps the greatest of Costa Rican attraction to the foreign investor is the very prepared human resources that the country offers .”
ERIC SCHARF , PARTNER , SFERA LEGAL
At the sectoral level , the attractiveness is numerous : mining ( Bolivia , Colombia and Cuba ); Gas / oil ( Bolivia , Mexico and Colombia ); Infrastructures ( Mexico and Colombia , where , as Santiago Concha , C & R Law Partner comments , “ many got into 4G roads ( Fourth Generation Road Concessions ) without financial support and now they must make financial closures , they have nothing to do it with . They are selling positions ),” Construction ( Bolivia ); Transportation ( Bolivia , Cuba , Panama ), tourism ( Bolivia , Cuba , Mexico , Peru , Dominican Republic , Costa Rica ); Pharmacy ( Cuba ) and
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