LatinNews Daily - 30 September 2026

*Paraguay’s minister of trade and industry (Mic), Marco Riquelme, has announced a deal between Paraguay’s state-run oil company Petropar and US-based oil and gas firm, Scorpion Oil & Gas, to explore for oil and gas in Paraguay, in what Mic described as opening a “window of opportunity to diversify the energy matrix”. He announced the deal amid other efforts to attract investment to Paraguay following his recent visit to the US as part of a delegation to attend the United Nations General Assembly. Riquelme said that during various events he showcased over 30 projects that will open the door to investment which he said would dynamise Paraguay’s economy. As regards infrastructure and urban revitalisation, he highlighted the announcement of an events arena worth over US$700m on Asunción’s Costanera Norte, a promenade on the capital’s northern waterfront, which he said represented “a key opportunity to revitalise the capital, boost entertainment tourism, and create direct and indirect jobs in construction and services”. Riquelme also announced the launch of a new large-scale sustainable forestry platform with a US$200m investment through JP Morgan Natural Capital, a subsidiary of US-headquartered asset manager JP Morgan Asset Management focused on forestland and nature-based assets, in partnership with Grupo Robinson, a Paraguayan business group; the arrival of US venture capital fund Plug and Play to Paraguay; as well as an alliance with UK-headquartered global social learning network and platform Apolitical to train over 100,000 public servants in artificial intelligence, aiming to reduce state bureaucracy.

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