Forward-thinking Uruguay is making another massive infrastructure investment in order to court more international companies and domestic innovation in the fields of science and technology.
The Parque de las Ciencias (Park of the Sciences) is being built on the outskirts of Montevideo with the stated goal of becoming the most modern free-trade zone in all of Latin America. Companies relocating to the 135-acre industrial park are exempt from paying seven categories of taxes and are allowed free entry and exit of goods, currencies and precious metals.
Leonardo Wehe, the Director of Business Development for the facility, says companies opening an office in the Parque de las Ciencias “have complete tax exemption, and even if the owners of the company are foreigners (non-Uruguayan residents), the Uruguayan Treasury will not charge extra taxes on the dividends collected by these individuals.”
Construction of the Zona PdC began in June 2010 and now, two years later, all of the infrastructure is in place including wide boulevards, perimeter lanes dedicated to cargo transport, a fiber optic network, low and high-tension electric connections, CCTV security monitoring systems, ample parking, pedestrian walkways, and attractive landscaping with ample gardens, fountains and lakes.
37,000 square feet (3,500 m2) of Class A office space and 87,000 square feet (8,000 m2) of industrial space are already available in several modern buildings like Office 101 and Office MO. True to the spirit of the PdC’s mission of promoting science and technology, two pharmaceutical plants have already commenced operations in the Parque de las Ciencias.
The new Free Trade Zone is ideally located less than one mile from Carrasco International Airport (MVD), five miles from Montevideo and fifteen miles from the Port of Montevideo. (Full Story in Spanish)
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