"We want to turn Uruguay into a high-tech nation and exporter of technology. We've come here to learn from you, because you're the pioneers in this area, and you have a global reputation," Uruguay Vice President Prof. Danilo Astori told "Globes".
Astori arrived in Israel on Friday at the head of a large delegation, including Minister of Industry, Energy and Mining Roberto Kreimerman and dozens of businesspeople and high-tech entrepreneurs. "You're the leaders in this area, and we want to learn from you and interest you in investing in Uruguay, sending a clear message that we're a reliable partner for investment," he added.
Astori met Bank Hapoalim (TASE: POLI) chairman Yair Seroussi, who hosted an Israeli-Uruguayan investment seminar. Astori also met Minister of the Economy Naftali Bennett.
Astori noted the strong similarities between Israel and Uruguay. "The unemployment rate is the same, and we are also anopen and export-oriented economy. Uruguay's foreign currency reserves amount to 28% of its GDP, almost the same level as Israel's reserves. Our fiscal situation is now slightly better, as our debt-to-GDP ratio is 25%," he said. Uruguay has been growing very rapidly in the past four year, making it one of South America's most thriving economies, alongside Chile.
Published by Globes [online], Israel business news - www.globes-online.com - on October 30, 2013
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