11/03/2021 - Uruguay became the 50th adherent to the OECD Declaration on International Investment and Multinational Enterprises on 25 February 2021 in recognition of its impressive progress in pursuing investment policy reforms to improve the country's business climate and encourage the positive contribution investment can make to economic, environmental and social progress. These initiatives have helped drive robust economic growth and vibrant foreign direct investment flows.
As an adherent to the Declaration, Uruguay commits to treating foreign investors in the same way as domestic investors and to promoting responsible business conduct. The country in turn benefits from similar assurance from the other adherents to treat Uruguayan investors abroad fairly and to encourage their multinational enterprises operating in Uruguay to contribute to economic, social and environmental progress.
Implementation of the Declaration also involves the establishment by Uruguay of a National Contact Point to be located in Uruguay’s Ministry of Economy with responsibility for promoting observance of the OECD Guidelines for Multinational Enterprises, an integral part of the OECD Declaration. As an adherent, Uruguay will participate in the work of the OECD Investment Committee and the Working Party on Responsible Business Conduct with the 12 other emerging economies that are adherents to the Declaration: Argentina, Brazil, Costa Rica, Egypt, Jordan, Kazakhstan, Morocco, Peru, Romania, Tunisia, Ukraine, and Croatia.
Uruguay’s adherence provides further international support for the principles of sound investment policy responsible business conduct laid down in the Declaration.
Uruguay's adherence is the result of a thorough review of its investment policies by the OECD which will soon be made publicly available as part of the OECD Investment Policy Reviews series.
For more information, please contact Stephen Thomsen, Head of Investment and Sustainable Development Unit, OECD Investment Division (tel. + 33 1 45 24 83 68) or Froukje Boele, OECE Centre for Responsible Business Conduct (tel: + 33-1 45 24 74 70).
Working with over 100 countries, the OECD is a global policy forum that promotes policies to improve the economic and social well-being of people around the world.