In July 2020, the Investment Committee recommended to Council to invite Uruguay to become the 50th adherent to the OECD Declaration on International Investment and Multinational Enterprises. This OECD Investment Policy Review of Uruguay documents the progress made in recent years to align investment policies with the national development strategy in pursuit of the Sustainable Development Goals (SDGs). The Review also assesses remaining challenges in improving the business climate, in particular the actions needed to establish an enabling responsible business environment and ensure full application of the Declaration. Uruguay’s success in attracting more and better investment will make its economy more resilient and better prepared to accelerate the recovery after COVID-19.