Asuncion, IP Agency — Officials from the Ministry of Industry and Commerce (MIC) presented progress on a strategic plan aimed at achieving sustainable economic expansion in Paraguay. The plan was discussed during a strategic meeting at the headquarters of the Latin American and Caribbean Development Bank (CAF) in Asuncion, with CAF President Jorge Srur and a multidisciplinary technical team in attendance.
Deputy Minister of Trade Rodrigo Maluff and Deputy Minister of Rediex Javier Viveros outlined a comprehensive initiative designed to double the size of Paraguay’s economy over the next decade, aligning with the country’s long-term development vision extending to 2035. The strategy focuses on three key pillars: enhancing productivity in existing sectors, diversifying into higher-value products, and developing new industries with competitive advantages that align with national branding efforts.
Among the identified high-potential sectors for investment are energy, biomass, and mining. Particular emphasis was placed on the forestry sector as a transformative force, with 13 million hectares available for reforestation and plans to establish three pulp plants over the next ten years. This initiative could create up to 300,000 direct and indirect jobs, particularly in rural areas.
Improving national logistics infrastructure, including waterways, land transportation, and freight rail projects, was recognized as crucial for enhancing competitiveness in priority sectors. Viveros presented an analysis of high-value products such as soybeans, beef, rice, yerba mate, and wooden furniture, quantifying their potential impact on GDP and employment generation.
The plan highlights Paraguay’s structural advantages that position it for market share in specific sectors, requiring supportive public policies and strategic investments. Industrial verticals with significant social impact potential were identified, including textiles, metallurgy, recycling, and furniture manufacturing, offering opportunities for technical training and labor expansion.
The report includes over 400 specific actions to drive development of priority products, according to MIC officials. President Jorge Srur praised the technical rigor of the plan and expressed support for the process, emphasizing the importance of validating the strategy with economic stakeholders and sharing the complete study with CAF experts for feedback.