Prince Albert II of Monaco has concluded a landmark visit to Paraguay, marking the Principality’s first official mission to the South American nation — and setting the stage for a new era of diplomatic and economic cooperation.
Over the course of three packed days, the Prince led a delegation of Monegasque officials and business leaders through a wide-ranging agenda that spanned trade talks, environmental exploration, sporting diplomacy and cultural exchange. From boardrooms to hydroelectric plants, and from economic forums to Olympic pools, the visit was a striking demonstration of Monaco’s growing international ambition.
“This visit represents a new chapter in the friendship between Paraguay and Monaco,” said Prince Albert during the Paraguay-Monaco Economic Forum, held in Asunción on 4th November. “We can transform our aspirations into concrete actions for the benefit of both countries.”
The forum, co-organised by REDIEX (Paraguay’s investment promotion agency) and the Monaco Economic Board, saw 11 Monegasque companies meet with Paraguayan counterparts to explore opportunities in sectors including logistics, agri-food, tourism, health, finance, and clean energy. Over 50 B2B meetings were arranged across three events, signalling strong interest on both sides in developing new trade ties.
Leading the economic mission was Ludmilla Raconnat Le Goff, Delegate for Attractiveness to the Minister of State, who emphasised Monaco’s offer as a “safe gateway to Europe,” built on political and financial stability, transparent regulation, and a deep commitment to sustainability. “This mission illustrates a living, confident approach to international cooperation,” she said. “Paraguay is a young, stable country with strong growth potential. This encounter was about building trust, seeking new partners, and laying the foundations for long-term exchange.”
The Prince’s schedule also included high-profile institutional engagements, a gala dinner alongside President Santiago Peña, and several field visits — including to the iconic Itaipú Binacional hydroelectric dam.
Stretching nearly eight kilometres across the Paraná River, the dam is one of the most powerful in the world and provides 90% of Paraguay’s energy. There, Prince Albert toured the turbine halls, signed the guest book, and planted a tree overlooking the massive structure — a symbolic gesture of future growth.
The trip closed with a visit to the Olympic Park near Asunción, where the Prince met young athletes and toured new world-class aquatic facilities ahead of the 2025 Pan American Junior Games.
For the Monaco Economic Board and the participating companies — including names in pharmaceuticals, cosmetics, family offices, logistics, and tourism — the visit opened valuable lines of dialogue with one of Latin America’s most stable and investment-friendly economies.
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Main photo credit: Michaël Alesi, Prince’s Palace