Asunción, Paraguay

🇵🇾 Asunción is the capital and the largest city of Paraguay in South America. The city stands on the left bank of the Paraguay River, almost at the confluence of this river with the Pilcomayo River. The Paraguay River and the Bay of Asunción in the north-west separate the city from the Occidental Region of Paraguay and from Argentina in the south part of the city. The rest of the city is surrounded by the Central Department.

Asunción is one of the oldest cities in South America and the longest continually inhabited area in the Río de la Plata Basin; for this reason it is known as "the Mother of Cities". From Asunción, Spanish colonial expeditions departed to found other cities, including the second foundation of Buenos Aires, that of other important cities such as Villarrica, Corrientes, Santa Fe, Córdoba, Santa Cruz de la Sierra and 65 more.

Administratively, the city forms an autonomous capital district, not a part of any department. The metropolitan area, called Gran Asunción, includes the cities of San Lorenzo, Fernando de la Mora, Lambaré, Luque, Mariano Roque Alonso, Ñemby, San Antonio, Limpio, Capiatá and Villa Elisa, which are part of the Central Department. The Asunción metropolitan area has around two million inhabitants. The Asunción Stock Exchange lists the Municipality of Asunción as BVPASA: MUA. Asunción is one of the best cities for investments, both in construction and services, thus being one of the cities in the region with the highest economic growth, nowadays.

Asunción is the home of the national government, principal port, and the chief industrial, political, economic and cultural centre of Paraguay. Near Asunción are the headquarters of the CONMEBOL, the continental governing body of association football in South America. Asunción ranks as one of the cheapest cities in the world for foreign visitors, and the third safest capital in Latin America, behind Buenos Aires and Santiago, according to InSight Crime.

Economy In terms of commerce, this sector has grown considerably in recent years stretching towards the suburbs where shopping malls and supermarkets have been built. Paraguay's only stock exchange, the BVPASA, is located here. The city itself is listed on it, as BVPASA: MUA.

In Asuncion, the most important companies, businesses and investment groups are headquartered. The attractiveness of the city can be attributed to its easy going tax policies. Asunción has unrestrained taxes on the investments and movements of capital. In addition to this, the Asunción stock exchange traded up 485.7% in August 2012 relative to August 2011. There is also no income tax for investors in Bonds of Asunción Stock Exchange. Incentives like these attract significant foreign investment into the city. By many Latin American experts, Paraguay is tapped as one of the top three counties with the best investment climate in Latin America and the Caribbean as well it remains the most attractive nation of the hemisphere in doing business and is equipped with a series of legislations that protect strategic investments and guarantee a friendly environment for the development of large industrial plants and infrastructure projects. The city is the economic centre of Paraguay, followed by Ciudad del Este and Encarnación.