LatinNews Daily - 22 May 2026

*Uruguay’s government has welcomed a US$250m investment from the Brazilian forestry and timber company, BrasPine, to establish its first industrial plant outside Brazil in the northern Uruguayan department of Rivera, on the Brazilian border. Uruguay’s minister of industry, energy, and mining, Fernanda Cardona, stated that the plant will create jobs in Rivera, an area where, according to the national statistics institute (INE), the unemployment rate stood at 8.3% in the first quarter of the year, above the national average of 7.5%. Cardona explained that the first phase of the project is expected to create 150 jobs, while the full development is estimated to generate over 400 jobs. The investment came after months of negotiations between the government and the company, with Cardona noting that energy prices in Uruguay, knowledge of forestry and timber, and legal security provided by Uruguay were decisive factors in the decision. President Yamandú Orsi also celebrated the investment on social media, writing that “nothing is a coincidence” and that the deal was the result of “hours of work, conversations, and decisions.” He noted in particular the work of the industry, energy, and mining ministry (Miem), transport and public works ministry (MTOP), the state-owned electricity firm (UTE), and the departmental government of Rivera. Construction is expected to begin this year and be completed in the second half of 2027.

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