Uruguay business for sale
Uruguay the economy is characterized into the export- oriented sector of agriculture well formed labor resources, and the high level of social of expenditures. After increase on the average to 5% yearly during 1996-98, in 1999-2002 the economy carried large the decrease, in essence connected with the side-line consequences of the economic problems of its important neighbors, Argentina and Brazil.
For example, into 2001-02 Argentina made mass removal of dollars to the storage in the Uruguayan banks, which brought to dip into the Uruguayan pesos and a mass increase in the unemployment. Total volume the GDP Gross Domestic Product in these four years it was lowered almost by 20%, in 2002 worst because of the bank crisis. The unemployment rate grew to almost 20% in 2002, inflation grew, and the burden of the foreign debt two. Collaboration with the IMF (Universal Monetary Fund) they helped to stop damages. Uruguay in 2007 improved my debts to the pay-off $ 1,1 billion into the debt the IMF, and he continues to follow orthodox of the Uruguay business for sale economic plan, established by fund in 2005.
The construction from the cellulose into Fray Of bentos, which is the largest direct foreign investments in the history of Uruguay on $ 1,2 billions, is alien in the network in November 2007 and, as it is expected, to add 1,6% to the GDP Gross Domestic Product and to increase already an increase in the export. In the business sale economy it strongly grew since 2004 as a result high prices of the raw goods for the export Uruguayan, strong of peso, increase in this region, and low universal interest rates.
Banco credits Andorra’s (Panama) recently opened office in Panamas in Torres de las Americas, after the delivery of permission on the Panamanian bank authorization in 2008. Acting under the universal authorization, Credits Andorra’s is joined and banc the quality of the second Andorra’s bank in Panamas by universal financial center.
According to its management, business- strategy consists in concentrating of attention in control of active memberships, proposing to clients the wide spectrum of off-shore bank and financial services, and also off-shore financial consultations.
Credits Andorra’s is the leading particular bank in the principality Andorra’s, where it has 40 percent of portion in the Andorra’s of retail bank market. Bank emphasizes, professional services, working in the close contact with the family enterprises, and also small and average firms.
Miguel Valls Roca, President Credits of Andorra’s Panamas operation, said that Panamas there will be company the sluice for Latin America of possibility. The discovery bank credits Andorra’s Panamas is the part of grup the credits of Andorra’s the internationalization of strategy, which is directed toward increase and Uruguay business for sale strengthening of the business of company outside the border of Andorra’s. New bank considers Latin America as its largest hopes for expansion, taking into account common language and, of course, threat for the bank secret in Andorra’s on the domestic market, which, possibly, causes in to leave its traditional European clients.
Bank also has new office in Montevideo, Uruguay, after obtaining authorization on December 20, 2008, where it is also the second Andorra’s of bank the present time (Banca Privada d’Andorra’s, the smallest of the banks of Andorra’s, it has a presence into Uruguay for several years).
Fate it noted that Panamas the positions and the regions of economic development, were important reasons for the discovery of office here. This step on the press releases also allow bank to work with the European clients, who “want to develop projects in the area”.
After encountering with the new business sale universal problems also of paradigms, as bank credits Andorra’s Panamas the President recognized that the bank will adapt its services in order to be more consultative, with the simple bank products concentrated on control of the risks also of global Uruguay business for sale settlements.
According to the fate, Panamas excellent correspondence with the universal standards, such, as those, which are directed toward averting of money laundering, is one additional key factor. It resembled words from the Panamas of the superintendent of banks, Olegario Barrelier, which noted during the discovery of bank in Panamas and Andorra’s, so that the small countries were forced to develop themselves, in order to advance.
Bank obtained the authorization in September of last year, and management does not exclude the development of other forms of activity here, also, in the Uruguay business for sale future.
In 2007 Grup credits Andorra’s reported 13 billion Euros, the controlled active memberships with 638 million Euros in the reserve, and the clean profit of 128 million Euros and 460 workers.
