Bolivian businessmen highlight Paraguay’s tax incentives for investments

Asunción, IP Agency.- There is growing interest on the part of the Bolivian business community in establishing themselves in Paraguay. This interest is based on the attractive tax incentives that the Guaraní country offers, especially highlighting the famous triple 10 law, which establishes a value added tax (VAT) of 10% and a profits tax of 10%.

So stated the head of the mission and executive director of the Bolivian Paraguayan Binational Chamber, Sergio León Cuellar, during the development of the sixth bilateral trade mission, organized by the Binational Chamber, together with the Vice Ministry of Rediex, with the aim of giving to know the goodness that Paraguay has for the landing of investments and the different exponential sectors.

He highlighted the incentive regimes that the country has for the landing of investments, such as Law 60/90 and Maquila, which according to Cuellar are the ones that attract the most attention of businessmen.

He indicated that for this sixth commercial delegation the sectors that were present are different, such as mining, services, pharmaceutical products and construction, among other areas.

“I think there is a very good opportunity for entrepreneurs (…) There are benefits that can be applied immediately for all these investors and achieve the interest of them locating their capital here in Paraguay,” said the union director.

A good business relationship

In 2023, a good flow of Bolivian investments was seen in the country, a fact that, according to Cuellar, might continue with its good dynamism, which is why they project that for the next five years the commercial relationship, as well as investments, will continue in increase, taking advantage of the complementarity between both economies.

“There is a complementarity between Bolivia and Paraguay in many aspects. Now we have also seen a little how the trade balance is balanced and also what Paraguay requires from Bolivia and Bolivia from Paraguay,” she expressed.

An encouraging insight

The Investment Promotion specialist, Alejandro Gross Brown, pointed out that the perception on the part of Bolivian businessmen is quite encouraging in relation to the bilateral relationship with Bolivia, with opportunities to increase exports.

“The perception is quite encouraging, they are quite satisfied, they are surprised to learn that there are many opportunities and the advantages that Paraguay offers,” Gross highlighted.

He commented that the sectors that attract the most attention for Bolivian investors are services, aluminum, steel, medical equipment, medicines, soybean and corn derivatives. Likewise, he indicated that an increase in Bolivian investments is expected in the coming years.