Often referred to as the Heart of South America (Corazón de Sudamérica), officially known as the Republic of Paraguay, this country lies in the middle of the South American continent. It borders Bolivia to the northwest, Argentina to the south and southwest, and Brazil to the east and northeast.
Early in history in the 16th century, the current land of Paraguay was originally populated by the indigenous Guarani people. After that, the Spanish settlers inhibited the country well until the 19th century. In 1811, Paraguay declared independence from Spain and officially became a republic of Paraguay. Due to these events in history, the population is now known as Guarani, but it is mixed with Spanish descent as well. They speak the indigenous language Guarani, along with Spanish and the cultural heritage of the country is enriched with Spanish traditions and customs apart from the local ones.
The land of Paraguay is located on 406,752 km² where almost 7 million people live. However, the population is very unevenly distributed throughout the land, with only 2% living in 60% of the territory. On the other hand, a large part of the population lives in the eastern region near the capital city Asunción which has a population of 520,000. The currency they use is called Paraguayan Guarani and compared to 1 Euro, it is 6.696,62 PYG.
A diverse industry
Although the country doesn’t have a very well-developed tourism, it does have a diverse industry, relying mostly on agriculture and hydroelectric power. The Republic of Paraguay produces steel, cement, and sugar, as one of the major export products in the country. Additionally, it focuses on wood processing, meat production, and it has a solid textile industry. It is worth mentioning that Paraguay ranks first in renewable energy compared to the rest of the countries worldwide. It also takes the fifth place in beef export, sixth in corn, and the tenth in wheat export.
There are many benefits of production in the Republic of Paraguay. Thanks to the country’s geographical position, it is generally safe from earthquakes. Moreover, the location on both banks of the Paraguay river and with Guarani aquifer underneath, there are immense freshwater resources available. As a result, the electricity from hydropower comes at a fairly low cost. Additionally, politically and ethnically there are low risks of tensions and the taxes in this country are also lower than in some of its neighboring countries.
A promising potential
Being located in the center of South America, the Republic of Paraguay is abundant in vast forest areas. The forests are surrounded by natural brownfield land that has the potential to be reforested. At TreeCoin, we have recognized this potential and we are ready to act on it. Through the acquisition of natural land in Paraguay, we are able to provide a green future by planting eucalyptus trees. Ultimately, this is an action that can save the flora and fauna of this country.