Through Resolution SV.SG. No. 0022/2025, dated December 11, 2025, the Superintendency of Securities (“SIV”) of the Banco Central del Paraguay (“BCP”) approved the Regulation of the Central Information System for the Securities and Products Market (the “Regulation”), introducing changes to the current framework governing the submission of regulatory information.
The Central Information System is mandatory for broker-dealers, fund management companies, stock exchanges, central securities depositories, and other market entities and participants as determined by the SIV.
The Regulation establishes a single and mandatory standard for the submission of information by supervised entities. From an operational standpoint, the Central Information System operates as a centralized platform through which entities must submit their reports in standardized formats and in accordance with uniform technical specifications.
Additionally, the Regulation introduces stringent data quality standards, including the obligation to perform pre-submission validations, the automatic rejection of files containing critical errors, and requirements regarding the traceability and completeness of the information. In this regard, supervised entities will bear direct responsibility for the integrity, accuracy, and quality of the data submitted.
Through Circular SB.SG. No. 00101/2026, dated July 1, 2026, the Superintendency of Banks ("SIB") established a new procedure for the submission and processing of documents through its filing desk, applicable to banks, finance companies, exchange houses, electronic payment service providers, credit bureaus, general warehouses, the Development Finance Agency (AFD), and trust companies (the "Circular"). This new submission procedure will become effective on August 1, 2026.
The Circular provides that documents submitted by the above mentioned entities must bear a qualified electronic signature issued by a trust service provider authorized by the Ministry of Industry and Commerce (MIC) and must be submitted in PDF format to the SIB's official filing desk email address. In addition, the Circular establishes general guidelines governing the submission of documentation.
The Circular also sets out the procedure for the receipt and registration of submitted documents, allowing the SIB, where appropriate, to require the physical submission of certain documents. Where no physical submission is required, receipt of the filing will be confirmed by email through the assignment of a filing number.
Through Resolution G.G. No. 83/2026, dated June 29, 2026, the Central Bank of Paraguay ("BCP") approved the Operational Regulation for the Registration of Payment Service Providers ("PSP") within the National Payment System (the "Regulation"), establishing the procedure, deadlines, and requirements applicable to the registration provided for under Law No. 7503/2025 on the National Payment System.
The Regulation provides that all PSPs must register with the BCP through an electronic registration form. The registration is declaratory in nature and does not constitute an authorization or license to operate. Each PSP is responsible for the accuracy and updating of the information submitted.
The Regulation also establishes a sixty (60) day deadline for existing PSPs to complete their registration and for new PSPs to register from the start of their operations, as well as a thirty (30) day deadline to notify the BCP of any changes to the information previously provided. The required information includes institutional, functional, and technical data covering corporate, operational, technological, cybersecurity, and business continuity matters.
The Financial Operations General Sub-Management (SGGOF) is responsible for administering the registry, requesting additional information where appropriate, and issuing supplementary provisions for its implementation. In addition, the BCP may publish a list of registered PSPs as a measure aimed at enhancing transparency within the country's payment ecosystem.
Through Resolution No. 13, Act No. 7, dated April 8, 2026, the Banco Central del Paraguay (“BCP”) approved the Regulation on the Liquidity Coverage Ratio (“LCR”), formally incorporating this indicator as a key tool for liquidity risk management in financial intermediation entities (the “Regulation”).
The purpose of the Regulation is to establish the obligation to calculate and maintain the LCR, understood as the indicator that measures an entity’s capacity to meet its net cash outflows over a 30-day period through the holding of sufficient high-quality liquid assets.s
From a technical standpoint, the LCR is defined as the ratio between high-quality liquid assets and projected net cash outflows for such period, which must be equal to or greater than 1. This implies that entities must maintain an adequate level of liquidity to withstand stress scenarios.
One of the most relevant aspects of the Regulation is the definition of the components of the ratio, particularly High-Quality Liquid Assets (HQLA), which are classified into different categories based on their level of liquidity and credit quality.
Additionally, the Regulation sets out specific criteria for calculating cash outflows and inflows under a 30-day stress scenario, including differentiated treatment for retail and wholesale deposits, wholesale funding, derivatives, and other relevant exposures.
With respect to its implementation, a progressive phase-in schedule is established, under which entities must gradually meet the minimum required ratio: 50% as of May 31, 2026; 70% as of August 31, 2026; 90% as of November 30, 2026; and 100% as of March 31, 2027.
Furthermore, in the event of non-compliance with the minimum ratio, entities must justify the causes of the shortfall and submit a remediation plan within a maximum period of 90 days, failing which such non-compliance may be deemed a serious breach under applicable regulations.
The National Directorate of Public Procurement (DNCP) published the call by the Ministry of Public Works and Communications (MOPC) for the construction of sustainable housing in Bañado Sur (Barrio Tacumbú).
Regulation of the Renewable Energy Law
May 19, 2026
Renewable Energy | Promulgation of Decree No. 6034/2026, which regulates Law No. 7599/2025 "On the Modernization of the Regime that Regulates and Promotes the Generation of Electric Power from Non-Conventional Non-Hydraulic Renewable Energy Sources."
Infrastructure | International Public Tender
May 22, 2026
The DNCP published the MOPC call for the rehabilitation and maintenance of the following road sections: Cruce Primavera (PY22) – San Ramón (14.56 km); San Ramón – Concepción (PY22) (13.10 km); access to the Paracel plant site (3.99 km); Santa Rosa access – Route PY05 (4.68 km), with a total length of 36.33 km.
Infrastructure | International Public Tender
May 22, 2026
The DNCP published the MOPC call for the rehabilitation and maintenance of the Concepción – Vallemí – San Lázaro section, with a total length of 181.3 km.
Mobility | Suburban Rail Bill
May 26, 2026
Congress passed the bill "Amending and expanding Law No. 7434/2025 – On the Suburban Rail Reform – and establishing special provisions for the implementation of the project through Government-to-Government (G2G) agreements."
Executive Summary
I. Infrastructure | Construction of Sustainable Housing in Bañado Sur (Barrio Tacumbú)
General Overview
On May 13, 2026, the Ministry of Public Works and Communications (MOPC), through the National Directorate of Public Procurement (DNCP), published International Public Tender 485278 (MOPC Call No. 13/2026) (the "Call") for the construction of various types of sustainable social housing in the new Bañado Tacumbú neighborhood, covering all specialties, including the structural and installation works defined in the approved executive project design (the "Project"). The objective of the Project is to improve the housing conditions of the riverside population in the southern area of Asunción.
Key Features
Project Value and Financing
The works have an estimated value of Gs. 355,160,414,605 (approximately USD 58,000,000). The Project will be financed with funds from the loan granted by the Inter-American Development Bank (IDB) under Loan Agreement No. 4700/OC-PR, approved by Law No. 6424/2019.
The Project is divided into 9 lots: Lots 1 to 3 include 120 single-family homes each (approx. USD 4,600,000 – 4,700,000 per lot); Lots 4 to 6 include between 230 and 231 single-family homes each (approx. USD 8,900,000 – 9,100,000); and Lots 7 to 9 include between 8 and 10 multi-family buildings each (approx. USD 4,976,000 – 6,203,000). Each bidder may be awarded only one lot.
The anticipated execution periods are:
Lots 1, 2, and 3: 12 months from the notice to proceed.
Lots 4, 5, and 6: 14 months from the notice to proceed.
Lots 7, 8, and 9: 15 months from the notice to proceed.
Financial Conditions
An advance payment of 10% of the contract value is provided. Bid maintenance guarantees range between approximately USD 137,000 and USD 270,000 depending on the lot. The award system is based on the lowest qualifying bid that meets the substantive conditions of the bidding documents. Subcontracting is permitted with prior approval from the Works Manager.
Award System
The contract will be awarded to the lowest compliant bid that meets the substantive conditions of the bidding documents. The Call is governed by the IDB Procurement Policies (GN-2349-9).
Subcontracting
The contractor may subcontract works subject to prior approval from the Works Manager.
Contracting Authority
MOPC.
Key Dates
The key dates are: June 30, 2026 — deadline for submission of queries; July 6, 2026 — deadline for submission of bids (9:00 a.m.) and bid opening (9:30 a.m.) at the Main Hall of the MOPC Central Building.
II. Regulation | Non-Conventional Non-Hydraulic Renewable Energy Law
On May 19, 2026, the Executive Branch issued Decree No. 6034/2026 (the "Decree"), which regulates Law No. 7599/2025 "On the Modernization of the Regime that Regulates and Promotes the Generation of Electric Power from Non-Conventional Non-Hydraulic Renewable Energy Sources" (the "NCRE Law").
The Decree sets out the operational framework for the various categories authorized under the NCRE Law: Self-Generator, Co-Generator, Generator, and NCRE Exporter. It is important to note that not all mechanisms under the Decree apply equally to each category. The most relevant provisions are detailed below, organized by applicable category.
I. NCRE Co-Generators and Self-Generators – NCRE Reference Tariff
The remuneration that ANDE pays Self-Generators and Co-Generators for energy injected into the National Interconnected System (NIS) is determined based on the NCRE Reference Tariff. This tariff is set annually by MOPC through resolution, based on a technical report that ANDE must submit before March 31 of each year, detailing its generation costs by time block and voltage level.
The NCRE Reference Tariff is differentiated by time of day (Peak and Off-Peak) and by the type of energy injected:
Interruptible Energy — energy whose supply cannot be permanently guaranteed and whose dispatch is not firm: remuneration equals ANDE's Average Generation Cost (AGC). The advantage for the licensee is that it bears no obligation to guarantee a minimum supply. The limitation is that the price received is only the AGC, with no additional capacity or ancillary service components.
Non-Interruptible Energy — energy that is firmly and permanently assured: remuneration considers the AGC plus firm capacity, ancillary services, and, potentially, the injection point location. The price is potentially higher, but requires the licensee to guarantee supply firmness, which may require storage systems or other backup sources.
As of the date of publication, the AGC has not yet been determined, nor has the methodology for its calculation — including whether ANDE's own hydroelectric generation will be included or excluded — been established by MOPC. This is a pending definition of high relevance for the economic viability of Self-Generation and Co-Generation projects.
NCRE Generators – Tender Process
Tender, Reference Price, and Contracting Modalities
Unlike NCRE Self-Generators and Co-Generators, NCRE Generators sell their energy to ANDE (when not selling to Large Consumers) through competitive international public tender processes. The Decree regulates three central aspects of this process:
Reference Price. The Decree establishes that MOPC will determine the methodology for calculating the Reference Price applicable to Generator tenders, based on a prior technical report from ANDE. This price considers the specific characteristics of each NCRE source, storage systems, the geographic location of the connection point to the NIS, and the voltage level. The Reference Price published in each call for tenders will constitute, as is common in all competitive processes, the maximum award value — i.e., it operates as a ceiling for bids, not as a fixed price — thereby preserving the competitive incentive and allowing the effective price to be lower depending on the bids received. As of the date of this publication, the methodology for calculating the Reference Price has not yet been established by MOPC.
Contracting modalities. Bidding documents and contracts may include three energy acquisition modalities:
Open Modality: ANDE undertakes to purchase a minimum quantity and may require up to a maximum quantity defined in the bidding documents.
Defined Quantity Modality: ANDE acquires a fixed and unique quantity of energy.
Modality for Interruptible Sources: The NCRE Generator is not obligated to supply a minimum quantity, and ANDE undertakes to purchase all the energy that the NCRE Generator is able to produce. This modality is best suited for variable generation sources such as solar or wind.
In all cases, ANDE must have budgetary authorization to cover the maximum quantity of energy to be acquired.
Tender procedures may also include electrical energy storage systems or be called solely for storage. Tenders will be governed by Law No. 7021/2022 on Public Supply and Procurement, with the exceptions set forth in the NCRE Law.
Incorporation of the Special Purpose Vehicle (SPV)
The successful bidder (NCRE Generator) in an NCRE tender must incorporate a Special Purpose Corporation (Sociedad Anónima de Objeto Específico – SOE) in Paraguay within 60 business days from the date the award resolution becomes final. The SPV will be the contracting party in the NCRE Connection and Supply Agreement. The awardee must maintain a majority shareholding in the SPV, with a minimum of 51%, which the bidding documents may increase.
In the case of a consortium award, the SPV must be incorporated with the same partners and in the same proportions as the consortium at the time of the award. Prior to contract execution, the SPV must be registered with the DNCP State Suppliers Registry.
Public Tender Award – Guarantees
The Decree establishes three mandatory guarantees applicable to the Generator:
Bid maintenance guarantee: between 0.5% and 5% of the estimated total project cost.
Performance bond – construction phase: required prior to contract execution; amount and term to be defined in the bidding documents, with a maximum of 5% of the total awarded amount.
Performance bond – operation and maintenance phase: required prior to commencement of supply; maximum of 5% of the total awarded amount, decreasing in proportion to annual contract execution.
All guarantees may be provided by deposit, bank guarantee, surety bond, standby letter of credit, or insurance policy, issued by entities authorized by the Central Bank of Paraguay and the Superintendency of Insurance.
NCRE Administration and Payment Trust
The Decree establishes the complete operational framework for the NCRE Supply Administration and Payment Trust, with the MEF as settlor and the AFD as trustee. The trust is declared a matter of public utility and priority.
ANDE must fund it at least 12 months in advance of each scheduled payment. Its establishment is optional and conditioned on whether the call for tenders provides for it: if the bidding documents do not include it, the applicable payment regime is that of Law No. 7021/2022. The trust's obligations may be partially guaranteed by multilateral credit agencies, at the Generator's cost.
Assignment of Rights and Arbitration
The Connection and Supply Agreement and the SPV's shares may be assigned to third parties once supply has commenced, provided the assignee demonstrates technical and financial capacity, obtains the corresponding NCRE License, and receives prior authorization from ANDE.
The Decree provides for the possibility of agreeing to institutional or ad hoc arbitration for the resolution of contractual disputes, seated in Asunción, although the parties may agree on a foreign seat when the scale of the project or other relevant factors so justify. ANDE will be a necessary party in the arbitral proceedings, and the Attorney General's Office (Procuraduría General de la República) will intervene as an accessory party. ad hoc para la solución de controversias contractuales, con sede en Asunción, aunque las partes pueden consensuar una sede en el extranjero cuando la envergadura del proyecto u otros factores relevantes lo justifiquen. La ANDE será parte necesaria en el proceso arbitral y la Procuraduría General de la República intervendrá como coadyuvante.
Overall Assessment
The promulgation of Decree 6034/2026 is a significant milestone for the sector: for the first time, Paraguay has a complete operational framework for private participation in non-conventional renewable energy generation. The framework is more robust and bankable than the previous regime — terms of up to 30 years, payment trust, arbitration, Large Consumer provisions — and addresses several of the limitations that had constrained market development under Law No. 6977/2023.
However, the full functioning of the regime depends on the issuance of additional regulatory instruments still pending: the AGC methodology and the NCRE Reference Tariff for Self- and Co-Generators; the Reference Price methodology for Generators; the NIS connection guidelines; and the resolution defining which sources qualify as interruptible or non-interruptible. The speed with which MOPC and the Vice Ministry of Mines and Energy issue these instruments will be decisive for the market to begin operating at the scale the country needs.
Infrastructure | Rehabilitation and Maintenance of Road Sections: Cruce Primavera – Concepción and Access Roads
General Overview
On May 22, 2026, the Ministry of Public Works and Communications (MOPC), through the DNCP, published International Public Tender 488092 (MOPC Call No. 07/2026) (the "Call") for the rehabilitation and maintenance by service levels of the following road sections: Cruce Primavera (PY22) – San Ramón (14.56 km), San Ramón – Concepción (PY22) (13.10 km), access to the Paracel Plant (3.99 km), and Santa Rosa access – Route PY05 (4.68 km), with a total length of 36.33 km (the "Project"). The Call was issued as a single lot.
Key Features
Project Value and Financing The Project has an estimated value of Gs. 269,224,597,643 (approximately USD 44,000,000) and will be financed with funds from the joint CAF/OFID loan approved by Law No. 7517/2025. The Call was issued ad referendum, with MOPC in the process of obtaining the corresponding budgetary extension.
Execution Period
The contract execution period is 84 calendar months from the notice to proceed, with an initial 4-month period for the elaboration of the executive design, followed by 20 months for construction from the physical notice to proceed, and 60 months for maintenance services.
Advance Payment 10% of the contract.
Bid Maintenance Guarantee Bidders must submit a bid maintenance guarantee (bank guarantee or insurance policy) equivalent to 5% of the total bid amount.
Award System Bid evaluation will be based solely on price.
Subcontracting The permitted subcontracting percentage is 20% of the total contract amount.
Contracting Authority MOPC.
Key Dates June 23, 2026 — deadline for submission of queries; June 29, 2026 at 9:00 a.m. — deadline for submission of bids. Bid opening will take place the same day at 9:30 a.m. at the Main Hall of the MOPC Central Building.
Infrastructure | Rehabilitation and Maintenance of Road Sections: Concepción – Vallemí – San Lázaro
General Overview
On May 22, 2026, the Ministry of Public Works and Communications (MOPC), through the DNCP, published International Public Tender 488061 (MOPC Call No. 06/2026) (the "Call") for the rehabilitation and maintenance by service levels of the Concepción – Vallemí – San Lázaro section, with a total length of 181.3 km (the "Project"). The Project is divided into 3 lots as follows:
Lot 1: Km 0+000 to Km 52+300 (52.3 km)
Lot 2: Km 52+300 to Km 113+000 (60.7 km)
Lot 3: Km 113+000 to Km 181+300 (68.3 km)
Each bidder may be awarded only one lot; if the same bidder submits the lowest price for more than one lot, the award will be made for the lot where the price combination is most advantageous to the State.
Key Features
Project Value and Financing The Project has an estimated value of Gs. 819,864,270,021 (approximately USD 134,000,000), distributed as approximately USD 40,000,000 for Lot 1, USD 47,000,000 for Lot 2, and USD 47,000,000 for Lot 3. The Project will be financed with funds from the CAF/OFID loan approved by Law No. 7517/2025, and the call was issued ad referendum.
Execution Period The contract execution period is 84 calendar months from the notice to proceed, with an initial 4-month period for the elaboration of the executive design, followed by 20 months for construction from the physical notice to proceed, and 60 months for maintenance services.
Advance Payment 10% of the contract.
Bid Maintenance Guarantee Bidders must submit a bid maintenance guarantee (bank guarantee or insurance policy) equivalent to 5% of the total bid amount.
Award System Bid evaluation will be based solely on price.
Subcontracting The permitted subcontracting percentage is 20% of the total contract amount.
Contracting Authority MOPC.
Key Dates June 22, 2026 — deadline for submission of queries; June 26, 2026 at 9:00 a.m. — deadline for submission of bids. Bid opening will take place the same day at 9:30 a.m. at the Main Hall of the MOPC Central Building.
Mobility | Chamber of Deputies Passes "Suburban Rail" Bill
On May 26, 2026, the Chamber of Deputies approved the Senate version of the bill "Amending and expanding Law No. 7434/2025 – On the Suburban Rail Reform – and establishing special provisions for the implementation of the project through Government-to-Government (G2G) agreements" (the "Bill"). With this approval, the Bill has been passed and is now submitted to the Executive Branch for promulgation.
Below are some of the most relevant provisions of the Bill:
Direct Award under G2G Regime: The Ministry of Public Works and Communications (MOPC) and Ferrocarriles del Paraguay S.A. (FEPASA) are authorized to directly negotiate, execute, implement, and supervise agreements with foreign governments — or companies or entities designated by them — for the implementation of the Project. This empowers the authorities to select the sub-concessionaire without a competitive tender process.
State Financial Backing: The Ministry of Economy and Finance (MEF) must record as commitments of the Paraguayan State all financial obligations arising from the Project's contracts, including commitments for deferred investment payments, availability payments, and early termination amounts — which shall be recorded as firm and contingent obligations, as applicable. The MEF must also issue a prior approval opinion on the Project Implementation Agreement.
Dispute Resolution: In agreements executed under the G2G modality, the parties may expressly agree to submit to a specific jurisdiction in the Project Implementation Agreement, designating in each case the applicable law and the jurisdiction chosen. Additionally, the parties may agree to submit their disputes to arbitration, with the seat located within or outside Paraguay.
Special Purpose Vehicle: For the implementation of the Project, a Special Purpose Corporation (Sociedad de Objeto Específico – SOE) governed by Paraguayan law must be incorporated, whose exclusive purpose will be determined by the Sub-concession Agreement, the Project Implementation Agreement, and the Project documents. Under the G2G scheme, any public or private company designated by the allied foreign government may be selected as the majority shareholder of the SPV, subject to approval by MOPC and FEPASA. The minimum duration of the SPV will be the contract term plus two additional years, plus the validity period of the works and services guarantees.
Fiscal Incentives: The "Suburban Rail" Project will benefit from the incentives established in Law No. 7548/25 "Establishing the New Fiscal Incentives Regime for National and Foreign Investment," Law No. 117/91 "On Investments," and Law No. 5542/15 "On Guarantees for Investment and Promotion of Employment Generation and Socio-Economic Development," applicable to all phases of the Project, including design, construction, and operation.
FEPASA Participation and Capitalization: FEPASA is authorized to participate as a majority shareholder of the SPV and to allocate the resources it receives — whether from budgetary appropriations, capital contributions, financing, or other legitimate sources — to the capitalization of the SPV.
Budgetary Provision and Trust: MOPC, FEPASA, and the MEF undertake to provide for and manage the allocation of resources necessary to meet the State's financial obligations under the Project. They must also take the necessary measures to ensure the timely funding of the Project's trust, at least twelve months in advance of scheduled payments.
Guarantee for Creditors: The SPV may establish, in favor of its creditors, a special guarantee consisting of a pledge or security trust over the rights arising from the Project Implementation Agreement, including the future cash flows generated by the Project, and the shares representing the SPV's share capital.
Approval of the UAE Agreement: The agreement executed between MOPC, FEPASA, the Ministry of Industry and Commerce (MIC), and Etihad Rail PJSC of the Government of the United Arab Emirates is hereby approved and incorporated as an annex, forming an integral part of the law upon promulgation.
Through Resolution No. 13, Act No. 7, dated April 8, 2026, the Banco Central del Paraguay (“BCP”) approved the Regulation on the Liquidity Coverage Ratio (“LCR”), formally incorporating this indicator as a key tool for liquidity risk management in financial intermediation entities (the “Regulation”).
The purpose of the Regulation is to establish the obligation to calculate and maintain the LCR, understood as the indicator that measures an entity’s capacity to meet its net cash outflows over a 30-day period through the holding of sufficient high-quality liquid assets.s
From a technical standpoint, the LCR is defined as the ratio between high-quality liquid assets and projected net cash outflows for such period, which must be equal to or greater than 1. This implies that entities must maintain an adequate level of liquidity to withstand stress scenarios.
One of the most relevant aspects of the Regulation is the definition of the components of the ratio, particularly High-Quality Liquid Assets (HQLA), which are classified into different categories based on their level of liquidity and credit quality.
Additionally, the Regulation sets out specific criteria for calculating cash outflows and inflows under a 30-day stress scenario, including differentiated treatment for retail and wholesale deposits, wholesale funding, derivatives, and other relevant exposures.
With respect to its implementation, a progressive phase-in schedule is established, under which entities must gradually meet the minimum required ratio: 50% as of May 31, 2026; 70% as of August 31, 2026; 90% as of November 30, 2026; and 100% as of March 31, 2027.
Furthermore, in the event of non-compliance with the minimum ratio, entities must justify the causes of the shortfall and submit a remediation plan within a maximum period of 90 days, failing which such non-compliance may be deemed a serious breach under applicable regulations.
Through Resolution SV.SG. No. 0022/2025, dated December 11, 2025, the Superintendency of Securities (“SIV”) of the Banco Central del Paraguay (“BCP”) approved the Regulation of the Central Information System for the Securities and Products Market (the “Regulation”), introducing changes to the current framework governing the submission of regulatory information.
The Central Information System is mandatory for broker-dealers, fund management companies, stock exchanges, central securities depositories, and other market entities and participants as determined by the SIV.
The Regulation establishes a single and mandatory standard for the submission of information by supervised entities. From an operational standpoint, the Central Information System operates as a centralized platform through which entities must submit their reports in standardized formats and in accordance with uniform technical specifications.
Additionally, the Regulation introduces stringent data quality standards, including the obligation to perform pre-submission validations, the automatic rejection of files containing critical errors, and requirements regarding the traceability and completeness of the information. In this regard, supervised entities will bear direct responsibility for the integrity, accuracy, and quality of the data submitted.
For many companies, retaining legal counsel is still seen as a response to a specific dispute. From a management standpoint, however, it is a far broader decision: it involves anticipating risks, aligning expectations, and properly structuring the relationship with a strategic provider.
In that context, there is one point that tends to be underestimated until it creates a problem of its own: the professional fees of the legal team.
In practice, a large share of the disagreements between companies and outside counsel do not arise from the merits of the matter, but from a lack of clarity about the scope of the work, the stages involved, the associated costs, and the form of compensation. For this reason, properly defining fees from the outset is not an administrative detail; it is a concrete preventive measure.
The first rule: in Paraguay this matter cannot be freely waived
This issue is of particular importance in Paraguay because Law No. 1376/88 does not leave the matter entirely to the will of the parties. The statute sets a minimum protective framework for professional fees and provides for the nullity of any agreement setting fees below the statutory fee schedule, as well as of any advance waiver, whether total or partial, of such fees.
In business terms, this means that it is not enough to rely on informal arrangements, verbal agreements, or improvised payment schemes. If the agreement contradicts the legal minimum, it may be ineffective. Consequently, a company should not assume that a seemingly convenient agreement protects it against a later claim.
It is not just about price: it is about predictability
The legal framework does not merely set limits. It also provides objective criteria for assessing fees, considering, among other factors, the amount in dispute, its complexity, the quality of the work, the stages completed, and the effectiveness of the work performed.
For a company, this carries an important practical consequence: the analysis of a fee proposal should not focus solely on the apparent cost, but on whether that scheme is consistent with the nature of the matter, the time it will require, and the level of specialization needed.
Reducing the conversation to “how much the lawyer charges” is usually a bad sign. The more useful question is a different one: whether the agreement is sufficiently well structured to avoid future contingencies..
What should be defined before retaining counsel
From a preventive perspective, every company should seek to ensure that the agreement with its legal advisor clearly establishes certain essential points: which services are included, which fall outside the scope, what will happen if the matter expands or extends to new stages, how costs will be handled, and what rules will apply in the event of early termination or successful completion of the engagement.
The same applies to monthly or recurring advisory arrangements. When a company retains permanent legal support, contractual clarity is indispensable to avoid gray areas: what the retainer covers, what is billed separately, and under what circumstances the compensation may be revised.
Loosely defined agreements may seem functional at first, but they tend to become problematic when the case grows more complex, drags on, or changes in scale.
The most common mistake: believing that fees are discussed at the end
One of the most frequent mistakes is to postpone this conversation, as if it were a secondary issue. In reality, when the matter is not properly defined at the outset, the risk does not disappear: it simply shifts to the end of the relationship, when there is far less room to align expectations.
Even in litigation where the opposing party may be ordered to pay costs, a company should not assume that this automatically resolves its financial relationship with its own advisors. That point, too, must be expressly provided for.
Choosing well is also a compliance decision
In this context, retaining legal counsel should not be guided solely by the lowest bid. When the law imposes non-waivable minimums and a lack of clarity may give rise to later claims, the reasonable decision is to work with legal teams with a recognized track record and demonstrable experience.
This not only reduces the risk of conflict. It also improves planning, strengthens trust, and makes it possible to sustain more stable and efficient professional relationships.
A practical takeaway for companies
In Paraguay, professional fees are neither an ancillary point nor one entirely at the parties’ disposal. Law No. 1376/88 imposes limits that must be taken seriously: the law establishes that it is not valid to agree on fees below the legal minimum, nor to waive those rights in advance.
For companies, the key is to clarify from the outset, with the selected legal team, the scope of what has been budgeted, and to honor fee agreements clearly—because doing so not only avoids new disputes; it is also a concrete way to manage risk and protect the relationship with their strategic advisors.
La violencia y el acoso laboral han sido objeto de creciente atención por parte de los gobiernos, organismos internacionales y empleadores, en atención a su impacto sobre la salud, dignidad y bienestar de los trabajadores.
A nivel internacional, la adopción del Convenio N.º 190 de la Organización Internacional del Trabajo (OIT) en 2019 impulsó el fortalecimiento de marcos regulatorios orientados a la prevención y gestión de situaciones de violencia y acoso en el mundo del trabajo, influyendo en diversas reformas implementadas en la región.
En Paraguay, esta problemática comenzó a ser abordada a partir de la Resolución MJT Nº 472/2012, posteriormente sustituida por la Resolución MTESS Nº 388/2019 y, más recientemente, por la Resolución MTESS Nº 195/2026.
En ese contexto, el presente benchmark tiene por objetivo identificar cómo las distintas jurisdicciones de la región están abordando esta problemática, así como las principales obligaciones y medidas que actualmente están siendo implementadas por los empleadores.
Asimismo, considerando la reciente entrada en vigencia de la Resolución MTESS Nº 195/2026, el análisis busca identificar los principales aspectos que las empresas en Paraguay deberían considerar para adecuarse a las nuevas disposiciones establecidas por el Ministerio de Trabajo, Empleo y Seguridad Social (MTESS).
Evolución de la regulación en Paraguay.
La protección frente a situaciones de violencia, acoso y discriminación en el ámbito laboral se encuentra sustento en la Constitución Nacional, particularmente en los principios de igualdad y no discriminación, así como en el derecho de toda persona a desempeñar un trabajo en condiciones dignas y justas. Asimismo, el Código del Trabajo reconoce el deber del empleador de respetar la dignidad de las personas trabajadoras y de mantener condiciones adecuadas de trabajo.
La regulación específica de esta materia fue desarrollándose a través de distintas disposiciones administrativas, entre las cuales se destaca la Resolución MJT N.º 472/2012, que incorporó definiciones de violencia laboral, mobbing y acoso sexual, además de establecer procedimientos de denuncia e investigación dentro de las empresas.
Posteriormente, la Resolución MTESS Nº 388/2019, derogó la anterior y fortaleció el abordaje institucional de esta problemática mediante la creación de la Oficina de Atención y Prevención de la Violencia Laboral y el establecimiento de un procedimiento específico para la recepción y seguimiento de denuncias.
Finalmente, la Resolución MTESS Nº 195/2026, posteriormente modificada por la Resolución MTESS N.º 564/2026 profundiza este proceso regulatorio, incorporando obligaciones concretas para los empleadores en materia de prevención, capacitación, canales de denuncia, investigación interna y adopción de protocolos para la gestión de situaciones de discriminación, violencia y acoso laboral.
Panorama regional comparativo
Si bien Paraguay ha desarrollado progresivamente su marco regulatorio en materia de violencia y acoso laboral, este proceso no ha ocurrido de manera aislada. En los últimos años, distintos países de la región han incorporado medidas orientadas a la prevención, investigación y tratamiento de estas situaciones en el ámbito laboral, con distintos niveles de desarrollo y enfoques regulatorios.
A continuación, se presenta un análisis comparativo de las principales medidas implementadas en los países de la región, con el objetivo de identificar tendencias y contextualizar los recientes avances regulatorios adoptados en Paraguay.
País
Ratificación convenio 190 OIT
Obligación de contar con un protocolo
Canales de denuncia
Capacitación obligatoria
Normativa específica
Paraguay
No
Si
MTESS; Empresa
Si
Resolución 195/2026 y 564/2026 MTESS
Argentina
Si
Parcialmente
Secretaría de Trabajo, Empleo y Seguridad Social
Si
Ley Nº 27.580, Resolución 685/2023 y normativas de cada provincia
Uruguay
Si
No es obligatorio
Empresa; Inspección General del Trabajo
Si
Ley N° 19849; Decreto N° 246/2024
Chile
Si
Si
Empresa; Inspección del Trabajo
Si
Ley “Karin” N° 21.643
Brasil
No
Parcialmente (a través de la Comisión Interna de Prevención de Accidentes “CIPA”)
Company
Si
Ley N° 14.457/2022; Norma Regulamentadora NR -1
Bolivia
Si
No
Ministerio de Trabajo, Empleo y Previsión Social
Si
Ley N°348; Resolución Normativa del Directorio MT 196/21
De acuerdo al análisis, se observa que:
Si bien los países analizados regulan esta problemática de manera distinta y con diferentes niveles de desarrollo, a nivel regional se observa una tendencia cada vez más marcada hacia la adopción de medidas de prevención de la violencia y el acoso laboral.
En ese sentido, el enfoque ya no se limita únicamente a actuar ante casos concretos una vez ocurridos, sino también a prevenirlos mediante la implementación de protocolos y políticas internas, canales de denuncia, procedimientos de investigación y capacitaciones periódicas a los trabajadores.
En Paraguay, esta tendencia se refleja principalmente en la Resolución MTESS Nº 195/2026 y N° 564/2026, mediante la cual el MTESS estableció lineamientos para la prevención y tratamiento de situaciones de discriminación, violencia y acoso laboral en el sector privado.
Nuevas disposiciones y obligaciones en Paraguay
Empleadores con más de 10 trabajadores deben contar con un protocolo interno de prevención, atención e investigación de violencia laboral.
Empleadores con 10 o menos trabajadores deben contar con una declaración de tolerancia cero contra la violencia y el acoso laboral.
Deben habilitarse y difundirse canales de denuncia accesibles y confidenciales.
Debe designarse una persona, comité o área responsable de aplicar el protocolo, recibir y gestionar las denuncias.
Deben realizarse capacitaciones periódicas sobre violencia y acoso laboral.
Los protocolos deberán contemplar medidas orientadas a la prevención y gestión de situaciones de violencia ejercida por terceros vinculados a la actividad laboral, tales como clientes, usuarios o proveedores.
La normativa incorpora medidas de prevención y apoyo frente a situaciones de violencia doméstica que puedan impactar en el ámbito laboral.
El MTESS podrá fiscalizar el cumplimiento, difusión y aplicación efectiva del protocolo.
Se establece un plazo de 6 meses a partir del 1 de julio de 2026 para adecuarse a la resolución.
La falta de cumplimiento de las obligaciones previstas en las Resoluciones MTESS Nº 195/2026 y Nº 564/2026 podrá ser objeto de fiscalización por parte del MTESS y dar lugar a la aplicación de las sanciones previstas en la legislación laboral vigente.
Aspectos técnicos para empleadores
A la luz de las nuevas disposiciones introducidas por las Resoluciones MTESS Nº 195/2026 y Nº 564/2026, resulta recomendable que los empleadores evalúen, entre otros aspectos:
Si corresponde implementar un protocolo interno o una declaración de tolerancia cero, según la cantidad de trabajadores.
La existencia y adecuación de canales internos de denuncia accesibles y confidenciales.
La designación de una persona, comité o área responsable para la recepción, gestión e investigación de denuncias.
La actualización de políticas, protocolos y procedimientos internos relacionados con la prevención, atención e investigación de situaciones de violencia y acoso laboral.
La realización de capacitaciones periódicas dirigidas a trabajadores, supervisores y mandos medios.
El cumplimiento del plazo de adecuación establecido por el MTESS y la documentación de las medidas adoptadas.
Conclusion
La evolución normativa observada tanto en Paraguay como en otros países de la región evidencia una creciente importancia de los mecanismos de prevención y gestión de situaciones de violencia y acoso laboral dentro de las organizaciones. En este sentido, las recientes modificaciones introducidas en Paraguay reflejan una tendencia regional orientada a fortalecer las medidas de prevención, atención e investigación de este tipo de situaciones en el ámbito laboral.
En ese contexto, resulta recomendable que los empleadores revisen y adecuen sus protocolos, políticas y procedimientos internos, incluyendo sus mecanismos de denuncia, investigación y capacitación, a fin de dar cumplimiento a las nuevas exigencias regulatorias y fortalecer la gestión de este tipo de situaciones en el ámbito laboral.
¿Necesita asistencia? Nuestro equipo laboral se encuentra disponible para asesorar en la revisión e implementación de protocolos, capacitaciones, canales de denuncia y demás medidas requeridas por la normativa vigente.
Paraguay da un paso decisivo hacia la energía renovable privada
El 19 de mayo de 2026, el Poder Ejecutivo promulgó el Decreto N° 6034/2026, que reglamenta la Ley N° 7599/2025 —conocida como la Ley ERNC—, dedicada a fomentar la generación de energía eléctrica a partir de fuentes renovables no convencionales no hidráulicas: solar, eólica, biomasa, entre otras.
¿Por qué importa? Porque Paraguay enfrenta un punto de inflexión. Se proyecta que hacia 2029–2030 el excedente histórico de las centrales hidroeléctricas binacionales comenzará a reducirse. La demanda eléctrica crece, y la diversificación de la matriz energética ya no es una opción: es una necesidad estratégica.
Este Decreto llena vacíos normativos que la Ley ERNC había dejado pendientes y establece reglas concretas para que el sector privado pueda generar y comercializar energía renovable. A continuación, lo que necesitás saber.
¿Quiénes pueden operar? Las cuatro figuras del mercado ERNC
La Ley ERNC habilita cuatro tipos de operadores —llamados Licenciatarios—, cada uno con su propio régimen de contratación y remuneración. El Decreto define el marco operativo de cada uno:
Autogenerador ERNC: Produce energía para su propio consumo y puede vender sus excedentes a la ANDE o a grandes usuarios privados.
Cogenerador ERNC: Similar al anterior, pero combina generación térmica industrial o comercial con generación eléctrica.
Generador ERNC: Constituido exclusivamente para vender energía a la ANDE (mediante licitación pública) o a grandes usuarios.
Exportador ERNC: Produce energía única y exclusivamente para exportación.
Cada figura tiene reglas propias: no todas las disposiciones del Decreto aplican de igual manera a todas.
Cómo se paga la energía: la Tarifa de Referencia ERNC
Para el Autogenerador y el Cogenerador que vendan excedentes a la ANDE, la remuneración se basa en la Tarifa de Referencia ERNC, fijada anualmente por el MOPC. El precio varía según el tipo de energía inyectada:
Interrumpible vs. No Interrumpible: ¿en qué se diferencian?
Energía interrumpible —como la solar o la eólica sin almacenamiento—: el operador no garantiza suministro continuo. La remuneración equivale al Costo Medio de Generación (CMG) de la ANDE. Precio más bajo, pero mayor flexibilidad operativa.
Energía no interrumpible: el operador garantiza suministro firme y permanente. La remuneración incluye CMG más potencia firme, servicios auxiliares y localización del punto de inyección. Precio potencialmente mayor, pero requiere sistemas de almacenamiento u otras fuentes de respaldo.
La elección entre una u otra modalidad impacta directamente la viabilidad económica de cada proyecto. El denominador común es el CMG, cuya metodología de cálculo aún no está definida —uno de los puntos pendientes más relevantes, como veremos más adelante.
El Generador ERNC: licitaciones y precio de referencia
Para los Generadores ERNC, el mecanismo es diferente y potencialmente más atractivo: el precio surge de un proceso competitivo de licitación pública, con el Precio de Referencia como techo máximo de adjudicación.
Ese precio de referencia es determinado por el MOPC considerando el tipo de fuente, la incorporación de sistemas de almacenamiento, la localización geográfica y el nivel de tensión de conexión. Opera como techo —no como precio fijo—, lo que preserva el incentivo competitivo.
Tres modalidades de contratación en las licitaciones
Modalidad Abierta: Prevé una cantidad mínima de energía que la ANDE se obliga a comprar, y una cantidad máxima que el Generador ERNC debe estar en condiciones de suministrar.
Modalidad de Cantidad Definida: Se fija un volumen exacto de energía a suministrar y adquirir. Mayor certeza, menor flexibilidad.
Modalidad para Fuentes Interrumpibles: El Generador no asume obligación mínima de suministro. La ANDE adquiere toda la energía que el Generador pueda producir. Especialmente adecuada para fuentes variables como la solar.
Ganar una licitación: SOE, garantías y estructura
Sociedad Anónima de Objeto Específico (SOE) dentro de los 60 días hábiles desde que la adjudicación quede firme. Esa SOE será la parte contratante del proyecto.
Condiciones clave para la SOE:
El adjudicatario debe mantener al menos el 51% de las acciones (el pliego de bases y condiciones puede elevar ese porcentaje).
En caso de adjudicación en consorcio, la SOE debe constituirse con los mismos socios y en las mismas proporciones del consorcio.
Previo a la firma del contrato, la SOE debe inscribirse como proveedor del Estado en la DNCP.
Las tres garantías obligatorias
Garantía de mantenimiento de oferta: entre 0,5% y 5% del costo total estimado.
Garantía de fiel cumplimiento — etapa de construcción: hasta el 5% del monto adjudicado, exigible antes de la firma.
Garantía de fiel cumplimiento — etapa de operación: hasta el 5% del monto adjudicado, exigible antes del inicio del suministro. Tiene carácter decreciente.
Pueden constituirse mediante depósito, aval, fianza, carta de crédito stand-by o póliza de seguro, emitidas por entidades autorizadas por el Banco Central del Paraguay y la Superintendencia de Seguros.
Tres mecanismos clave para los inversores
1. Fideicomiso de Administración y Pagos ERNC
El Decreto estructura el fideicomiso destinado al pago del suministro ERNC, con el MEF como fideicomitente y la AFD como fiduciario. Declarado de utilidad pública y carácter prioritario, requiere que la ANDE lo dote con al menos 12 meses de anticipación a cada pago.
Punto importante: su constitución es optativa. Se activa únicamente cuando el pliego de licitación así lo contemple. Si no está previsto, el régimen de pago será el general de contrataciones públicas, con mayor exposición al riesgo presupuestario.
Alerta para inversores: el fideicomiso no cuenta con garantía soberana del Estado paraguayo. Los pagos están respaldados por la ANDE con sus propios recursos presupuestarios. Este será un punto crítico en los procesos de due diligence de financistas institucionales.
2. Cesión de derechos
Los contratos y las acciones de la SOE pueden cederse a terceros una vez iniciado el suministro, siempre que el cesionario acredite capacidad técnica y financiera, obtenga la Licencia ERNC y cuente con autorización previa de la ANDE. Este requisito puede generar complejidades en el contexto de step-in de acreedores ante incumplimientos, lo que debe ser contemplado en la estructuración de los contratos de financiamiento.
3. Arbitraje
Por primera vez en el régimen ERNC, el Decreto incorpora la posibilidad de pactar arbitraje institucional o ad hoc para resolver controversias contractuales. La sede es Asunción, con posibilidad de consensuar una sede en el extranjero cuando la envergadura del proyecto lo justifique. La ANDE es parte necesaria y la Procuraduría General de la República interviene como coadyuvante.
Este mecanismo es un avance significativo para la bancabilidad del régimen ante inversores y financistas internacionales.
Venta directa a grandes usuarios: el mercado privado
Una de las innovaciones más relevantes de la Ley ERNC —desarrollada operativamente por el Decreto— es la habilitación de la venta directa de energía renovable a Grandes Consumidores.
¿Quién califica? Toda persona física o jurídica con una demanda máxima igual o superior a 30 MW en una unidad consumidora. Por primera vez en Paraguay, grandes usuarios industriales o comerciales pueden adquirir energía renovable directamente de un generador privado, a precios libremente acordados.
Esta modalidad está disponible para Autogeneradores, Cogeneradores y Generadores ERNC. El instrumento jurídico es el Contrato de Compraventa ERNC, que debe registrarse ante la ANDE. Cuando la generación renovable no cubra toda la demanda del Gran Consumidor —lo que es habitual en fuentes variables como la solar—, este puede suscribir directamente con la ANDE un contrato para cubrir la diferencia.
Lo que aún falta: aspectos pendientes de definición
El Decreto es un hito importante, pero el pleno funcionamiento del mercado depende de la emisión de varios instrumentos normativos adicionales aún pendientes. Los más relevantes:
CMG y Tarifa de Referencia: El Costo Medio de Generación (CMG) y la Tarifa de Referencia ERNC. La metodología de cálculo no está definida. En particular, se desconoce si la generación hidroeléctrica propia de la ANDE quedará incluida o excluida, lo que es determinante dado el bajo costo operativo de Itaipú y Yacyretá.
Precio de Referencia para Generadores: El procedimiento para determinar el Precio de Referencia en licitaciones aún no fue establecido. Sin ese parámetro, los inversores no pueden estructurar financieramente sus proyectos.
Clasificación de fuentes: El MOPC aún debe determinar qué fuentes califican como interrumpibles o no interrumpibles. Esto condiciona la modalidad de contratación y el nivel de remuneración. Para proyectos solares sin almacenamiento, la clasificación aún no es clara.
Lineamientos de conexión al SIN: Los lineamientos técnico-administrativos para la conexión al SIN no han sido emitidos, lo que impide dimensionar con precisión costos y plazos de conexión.
Proceso de otorgamiento de la Licencia ERNC: El VMME debe emitir la resolución que establezca requisitos y procedimientos para obtener la Licencia ERNC. Sin ella, el proceso de licenciamiento carece de plazos y criterios definidos.
Otras preguntas operativas aún abiertas: si el umbral de 30 MW del Gran Consumidor puede cubrirse de forma agregada entre varios licenciatarios; si un Generador puede optar por vender al Gran Consumidor en lugar de a la ANDE en períodos de precios desfavorables; y si el fideicomiso ERNC será activado en los procesos licitatorios en curso.
Takeaway
El Decreto N° 6034/2026 establece las bases operativas del mercado de energías renovables en Paraguay. Es un avance real: define figuras, modalidades de contratación, garantías, arbitraje y la posibilidad de venta directa a grandes usuarios. Pero el mercado no funcionará plenamente hasta que el MOPC, el VMME y la ANDE completen la emisión de los instrumentos normativos pendientes.
Para empresas, inversores y proyectos que apunten a este mercado, el momento de comenzar a estructurar es ahora.
