In Paraguay, Monaco lays the foundations for sustainable economic cooperation

As part of the official visit of H.S.H. Prince Albert II to the Republic of Paraguay, a Monegasque economic delegation travelled to Asunción from 3 to 5 November 2025.

The delegation brought together several companies from the Principality, accompanied by Ms Ludmilla Raconnat Le Goff, Country Chief Officer for Attractiveness, reporting to the Minister of State, responsible for coordinating economic initiatives and promoting Monaco internationally.

Organised in partnership with the Paraguayan Ministry of Industry and Commerce, REDIEX (the Paraguayan Investment and Export Network), and with the operational support of the Monaco Economic Board, this mission sought to strengthen economic ties between the two countries. It also marked the first stage in the implementation of the new international attractiveness strategy developed by the teams responsible for promoting Monaco abroad.

A mission focused on dialogue and economic exchange

The Country Chief Officer for Attractiveness took part in all the economic events of the visit, held in a spirit of engagement and cooperation, including:

• the Paraguay–Monaco Economic Forum, co-organised with REDIEX, during which she presented Monaco’s strategy “Monaco: a safe gateway to Europe”, highlighting the Principality’s structural advantages – political and financial stability, a transparent regulatory framework, a diversified economy and a strong commitment to sustainability;
• a networking reception co-hosted with the International Chamber of Commerce (ICC) Paraguay, fostering direct exchanges between Paraguayan and Monegasque companies;
• a working lunch with the Industrial Union of Paraguay;
• site visits to companies in the agri-food sector, illustrating the potential for industrial and logistical cooperation between the two countries;
• and finally, participation in the motor sport gala dinner, held in honour of the Sovereign Prince and the President of the Republic, H.E. Santiago Peña, in the presence of economic and institutional stakeholders from both nations.

A mission aligned with Monaco’s global attractiveness strategy

  “This mission to Paraguay perfectly reflects the momentum we are building – an approach to attractiveness that is dynamic, open to cooperation and grounded in trust. Paraguay is a young and stable country with significant growth potential, and this meeting embodies our commitment to openness and dialogue – reaching out to new partners, building trust-based and lasting partnerships”, said Ludmilla Raconnat Le Goff.

Paraguay thus represents the first milestone in a series of targeted economic engagements designed to reinforce Monaco’s role in the global economic dialogue.

Reporting directly to the Minister of State, the Country Chief Officer for Attractiveness will continue to build on this momentum in the coming months, focusing on three priorities:

• bringing Monegasque stakeholders together around a shared and coordinated vision;
• strengthening Monaco’s international presence in high-potential markets;
• and promoting the Monegasque economic model, founded on stability, excellence and environmental responsibility.

“Attractiveness is built over time, through dialogue and consistent action. This first mission has laid strong foundations for future economic and institutional partnerships,” concluded the Country Chief Officer for Attractiveness.

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Crédit photo ©Michael Alesi – Palais Princier