MIC and Taiwanese electric bus firm share progress on the installation of their plant in the country

Machine translation was used to publish the following Ministry of Industry and Commerce release

The Vice Minister of Industry, Lorena Méndez; together with the general directors of Industrial Policy, Aníbal Giménez, and of Industrial Development, José Cuevas, they received the president of Máster Buses, Wu Ting-fa, and his team. This meeting demonstrated the commitment and interest in the investment of the Taiwanese firm in Paraguay.

During the meeting, representatives of Máster Bus and the Ministry of Industry and Commerce (MIC) discussed various technical aspects about the progress in the process of establishing the company in the country. In addition, the work carried out with other State entities to facilitate this installation was discussed.

The MIC authorities presented in detail the requirements to benefit from the different incentive laws for production in Paraguay. Among the incentives mentioned, the advantages of Simplified Joint Stock Companies (EAS) and the benefits of Law 60/90 for the installation of the industrial plant were highlighted.

Likewise, MIC representatives provided technical advice on automotive policy laws and the necessary steps for opening the firm, with the aim of allowing them to operate in the shortest time possible.

Vice Minister Méndez highlighted that the visit of the head of the company aims to advance the process of constitution and installation of the firm in Paraguay. According to the established schedule, after bilateral negotiations, the donation of 30 electric buses has already been approved for the end of this year, which will be in charge of the Vice Ministry of Transportation of the MOPC.

Méndez indicated that the project contemplates an investment of approximately USD 30 million and the generation of between 2,000 and 2,500 direct jobs, in addition to benefiting a considerable number of local suppliers.

In addition, Méndez pointed out that, according to the schedule, in 2024 the company will be formalized in the country and in 2025 the construction of the plant will begin. In this sense, the Vice Minister pointed out that by mid-2026, the first bus units will be manufactured, assembled and assembled in Paraguay.

“These are positive signs that increase the degree of foreign investment in multinational cooperation. A good execution of this type of projects can generate confidence so that other countries or governments continue betting on Paraguay as an investment epicenter,” Méndez highlighted.