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Investor Presentaiton

2 Ramp up in foreign direct investment and new tax incentives for fixed capital formation underpin the construction sector FDI Net Capital Inflows (2) (Rolling 4-quarters, in % of GDP) UPM's Pulp Mill (1) " UPM will invest a total of US$ 3 billion (5.5% of GDP) to build a 2.1 million-tonne greenfield eucalyptus pulp mill in central Uruguay. ■ Proceeding according to schedule. More than 3,000 people are currently working at the construction site. Central Railway Project (1) ▪US$ 1 billion investment in a Central Railway that will run from the city of Paso de los Toros to the port of Montevideo (273 km long). ■Public-Private-Partnership (PPP) modality. 4 2 O -2 -4 2016Q4 2018Q2 2019Q4 3.0 الس 2021Q2 Investment projects presented under COMAP regime (1) (Cumulative) 3,000 Total intended investment (in US$ million) 2,000 Number of projects (RHS) 1,000 3,000 2,000 1,000 Jan-19 Sep-19 May-20 Jan-21 Aug-21 (1) Source: Ministry of Economy and Finance of Uruguay. 10 (2) Source: Central Bank of Uruguay. Figures of the Financial Account of the Balance of Payments were revised.
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