Pedro Sánchez highlights Spanish companies' investment potential in energy, water, infrastructure and transport projects in Uruguay

Radisson Hotel, Montevideo (Uruguay)

The President of the Government, Pedro Sánchez, during his speech at the Spain-Uruguay Business Meeting. (Pool Moncloa /Borja Puig de la Bellacasa)

The chief executive took part in the inaugural session of the Spain-Uruguay Business Meeting, which brought together companies from both countries with the aim of strengthening the already close economic cooperation between them and opening up new avenues for public-private and inter-company collaboration to promote business opportunities and economic expansion in Uruguay.

In his speech, Pedro Sánchez highlighted Spain's extensive presence in the American country, with more than a hundred Spanish companies operating in its territory and more than 7.6 billion dollars of accumulated investment, which makes our country the leading investor in Uruguay. The president stressed that Spanish companies "are already present in many sectors and areas" of the Uruguayan economy and society, pointing out the future potential of sectors such as energy transition, green hydrogen, transport and water infrastructures and digitalisation.

Pedro Sánchez emphasised that Spanish companies invest in Uruguay hand in hand with local companies: "Our companies do not come to displace, but to complement, to ally themselves with Uruguayan talent, generating employment, knowledge transfer and prosperity".

Earlier, the President of the Government took part in a working breakfast with representatives of 17 Spanish companies present in Uruguay, including RENFE, BBVA, TYCSA, Santander, Mapfre and Viscofan, as well as the President of the CEOE, Antonio Garamendi, and the President of the Spanish Chamber of Commerce, José Luis Bonet. He spoke with them about business opportunities in the country, and conveyed the importance of the forthcoming ratification of the EU-Mercosur Agreement to boost trade and investment flows, and the growth of economies on both sides of the Atlantic, forming the largest free trade area in the world, with more than 700 million inhabitants.