Uruguay’s President Vazquez made a shameful decision to postpone Botnia’s permit.

Uruguayan president Tabare Vazquez was in California last week to promote investment in his country. Vazquez told a meeting of the World Affairs Council in San Francisco how foreign investment was key to Uruguay’s economic growth and job creation.

The day after, however, Vazquez made a decision negatively affecting Uruguay’s largest foreign investor, Finland-based pulp producer Botnia. The company was scheduled to receive the final go-ahead to start production at its facility in Uruguay. At a cost of $1 billion it represents the largest foreign investment ever in Uruguay and the largest Finnish investment abroad”*

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