Uruguay Senate Unanimously Approves Competitiveness Law

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On 26 August 2026, the Uruguayan Senate unanimously approved a 240-article Competitiveness Law designed to modernize the state and reduce the country's high cost of living. The bill, championed by Economy Minister Gabriel Oddone and economist Laura Raffo, incorporates measures to simplify bureaucracy, ease import regulations, and grant the competition watchdog increased independence. Although the bill received support across party lines, including from the Broad Front, the National Party, and the Colorado Party, it still requires a second vote in the Chamber of Representatives to become law.

Consequences

The bill's implementation is expected to facilitate competition through the authorization of multiple suppliers and the introduction of a positive silence rule, which mandates automatic approval for state applications if deadlines are missed. Additionally, the expansion of crowdfunding to include large companies will alter existing financial regulations previously capped at approximately US$11 million in annual sales.

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