Paraguay's government, through the Ministry of Industry and Commerce (MIC), has made public its ambitious 'Paraguay 2X' plan, which aims to double the country's gross domestic product (GDP) to USD 84 billion in the next ten years. According to Ultima Hora, the plan seeks to emulate the rapid industrialization and technological expansion of Hong Kong, Singapore, South Korea, and Taiwan.
The master plan, designed to break the inertia of traditional growth, is structured around 400 specific actions intended to transform the productive matrix. The MIC identified 13 strategic sectors—including food, metallurgy, and textiles—from a universe of 2,000 products, with the potential to inject an additional USD 8.5 billion into the economy.
Central to the strategy is positioning Paraguay as the most competitive logistics and manufacturing platform in South America, attracting foreign capital. The plan also emphasizes the consolidation of the Paraguay-Paraná waterway and the bioceanic corridor to reduce freight costs and improve export competitiveness. Additionally, capitalizing on the country's production of clean and renewable energy is seen as key to attracting sustainable investments.
President Santiago Peña's administration is personally promoting the country's advantages to investors. A notable component of the plan is the joint development of a sovereign artificial intelligence center with Taiwan, powered by Paraguayan hydroelectric energy. This project fits within the broader 'Paraguay 2X' objectives, though Ultima Hora notes that new investments in energy generation remain a bottleneck amid growing demand.