On Thursday 23 June, the Uruguayan Chamber of Information Technologies (CUTI), along with the Embassy of Uruguay in the United Kingdom, will organize a networking event in London, within the framework of its participation in London Technology Week. The business delegation will be composed of CEOs and senior managers of technology companies from Uruguay and will have the support of Uruguay XXI, the official agency in charge of export promotion and investment attraction.
During the activity to be held under the theme "Uruguay, a smart choice to obtain quality services" participants will have the opportunity to raise questions and to interact with members of the delegation, with the objective of encouraging ties that will open the way to joint efforts.
With its 3.3 million inhabitants, Uruguay is renowned for its political, legal and macroeconomic stability. This, coupled with laws that favour the arrival of investments through tax exemptions and the absence of restrictions on the outward transfer of capital or profits, in recent years has driven dozens of international companies to set up operations in the country.
According to data furnished by Uruguay XXI, six of every ten foreign companies operating in the country do not encounter any restrictions in the expansion of their business, while eight out of ten show a high level of satisfaction with regard to their setting-up process.
Furthermore, Information and Communications Technology (ICT) sector activity has recorded a steady growth in recent years, positioning itself as one of the most dynamic sectors of the local economy, accounting for almost 2% of the Gross Domestic Product (GDP).
In addition, Uruguay boasts the highest ICT Development Index in the region, as established by the International Telecommunication Union (ITU) in 2013. With download speeds that exceed those of the US, due to its extensive fibre optic network, the country is also noted for having a high degree of Internet penetration and mobile communications. Moreover, the so-called "Plan Ceibal", local version of the "One laptop per child" project, has helped to substantially reduce the digital divide and to train from an early age thousands of digital natives.
Those who come to live or work in Uruguay point out the comfort and tranquillity that reigns, as well as the short distances, the pleasant climate and friendly people. The country benefits from a top-level health and education system, and is one of the safest in the continent. These features, according to the 2014 Legatum Prosperity Index, earned its recognition as the best place to live in Latin America.