The small country has big ambitions to become a tech and innovation hub.
It has a reliable source of renewable energy, thanks to the Itaipu Dam - a huge hydroelectric dam on the Paraguay-Brazil border.
We hear from government ministers and business leaders about how they believe they can make it happen - and the benefits it could bring, particularly to young people in Paraguay.
Produced and presented by Jane Chambers
(Image: The Itaipu Dam - a hydroelectric dam on the Paraguay-Brazi border. Credit: Getty Images)