(ANSA) - Milan, July 28 - The Uruguayan peninsula of Punta
del Este is encouraging investment at Expo, promising that
investors can recoup "up to 100% in 15 years" thanks to
government tax credits, said John Stuart Leaman, vice president
of Destino Punta del Este, on Tuesday.
The organization is at the Uruguay pavilion at Expo to
promote investment in the South American nation, which Leaman
says has a tax system that has favored foreign investment for
more than 30 years.
Punta del Este is a beach resort and city on the southern
coast of Uruguay that marks the division point between the Rio
de la Plata and the Atlantic Ocean.
Leaman said in 2003 the government extended tax incentives
to the tourist sector as well, which has had a direct impact on
tourism growth in the country.
"Today in Uruguay there are about three million tourists,
almost one for each resident. In the first two months of 2015,
750,000 people visited our country," Leaman said.
The country also pays close attention to the source of
investment funding, with tough laws in the area of money
laundering.
"Checks are made not only by the government, but also by
the banks through which the money enters the country, and also
by the Central Bank. Our judicial system is also completely
independent and Uruguay is considered by the UN as one of the
countries with the least amount of corruption in the world,"
Leaman said.
He said Uruguay guarantees foreign investors "complete
freedom and complete safety in setting up any type of business
in our country".
"We trust in foreign investors and they can trust us. They
are welcome," Leaman said.
Uruguay courts investment at Expo
Punta del Este stand at Uruguay pavilion