Perennial Paraguay.

Opportunities are widening for entrepreneurs

Paraguay has been oft the beaten track for several decades, and political upheaval in March 1999 worried its fellow countries in the Mercosur trade bloc. But business people are beginning to explore opportunities here. Paraguay, land-locked by Bolivia, Argentina and Brazil, boasts the world's largest hydroelectric dam. The gigantic Itaipu dam, on the Parana River, stretches six miles wide. Tours by helicopter are available.

Nearby are the wonders of Iguazu Falls, where water crashes down from 250 waterfalls bordering Brazil and Argentina.

Ciudad del Este, Paraguay's major commercial center, is a bustling, free-wheeling marketplace of import and export products, some of them smuggled or counterfeit.

In the capital of Asuncion, German is said to be more widely spoken than English, though Spanish remains the major language of trade. About 90% of the population is bilingual in the Indian language Guarani, Paraguay's second official language.

Shops are often closed from noon to 3 p.m. Government offices open from 7 am. to 1 p.m. and banks from 8:45 a.m. to 12:15 p.m. Computer, fax and courier services are widespread.

Asuncion, has no subway and buses are uncomfortable, but taxi service is efficient and less expensive than in many other countries. For a lark, take an electric trolley across town; they were originally pulled by horses. Beware of road hazards--from cobblestone streets to reckless drivers.

Sights in Asuncion, include the museum in the Casa de la Independencia, the botanical garden and the central railroad station, from which runs a firewood-fueled steam locomotive 2,230 miles to Encarnacion. It's a 16-hour trip.

Visitors to Paraguay are also drawn to the Jesuit Mission ruins near Trinidad, the goldsmithing town of Luque, and El Chaco, an uninhabited region known for its flora and fauna.

Crime in Paraguay is becoming more of a problem. Thieves and pickpockets roam the area around hotels, so use common sense. Authorities say that luggage is sometimes pilfered at the airport; keep valuables with your carry-on gear.

POPULATION: 5.2 million * AREA: 406,750 sq. Km. * GDP [*] (1998): US$ 8.6 billion * GDP [*] PER CAPITA: US$ 1,639 * EXPORTS (1098): US$ 3,385 million * IMPORTS (1998): US$ 3,401 million * LITERACY RATE: 92.1% * LIFE EXPECTANCY: 72 years * LANGUAGE: Spanish and Guarani * TELEPHONE COUNTRY CODE: 595 * TELEPHONE CITY CODE: Asunclon: 21 * CURRENCY: US$l=2,933.2 Guarani (ss of May 21, 1999) * JANUARY MEDIAN TEMPERATURE: Asuncion: 28 Centigrade, 82.4 Fahrenheit * JULY MEDIAN TEMPERATURE: Asuncion: 19[degrees]C/66.2[degrees]F

(*.) 1995 constant prices