In a comparative study by the Brazilian Association of Shared services (Associação Brasileira de Serviços Compartilhados), Uruguay is ranked first as a privileged location for the installation of Shared Services Centers.
This study was conducted in order to analyze the attractiveness of Brazil for companies that provide services (Shared Services Center, BPO, etc.), the country was compared with China, Uruguay, India, Singapore, Indonesia, Malaysia, Vietnam, Panama, Peru, Chile and Argentina. The criteria evaluated were foreign direct investment, availability of labor, skilled labor, tax incentives, installation costs, minimum wages, cost of living, tourist attraction, population and tax burden.
Taking a look at the quantitative and qualitative factors considered in the analysis, Uruguay is the country that stands out the most compared to the others, because it has the largest number of positive factors, among which some factors stand out, such as the availability of free zones and tax benefits on imports. In addition, the Uruguayan government, with financial support from the Inter-American Development Bank (IDB), has developed the “Global Export Services Support Program” in order to help develop the market for global services exports in Uruguay through actions in investment and export promotion, generation of employment skills, update of the regulatory framework and support to key sectors for the growth of the industry.
The specific objectives of the program are to increase foreign direct investment in the sector of global export services; increase exports of global services and raise the level of employment in this sector.
It’s worth mentioning that the growing trend in the export of services shows that our country has characteristics that differentiate it and place in an advantageous position compared to its competitors. The proposal to provide services to the world shows some significant advantages, which have allowed Uruguay to start to position itself among the major markets for the locating of global services centers, notwithstanding that there are still challenges ahead for the country to secure its position.
Date: September 9, 2015