The meeting was chaired by Foreign Minister Diana Mondino and the Secretary of Finance of the Ministry of Economy, Pablo Quirno.
On Monday, the Argentine Foreign Ministry held the seminar “Incentive Regime for Large Investments (RIGI) – Objectives, Scope and Implementation” with the aim of presenting the new Regime to companies and members of the foreign diplomatic corps accredited in the country.
The meeting was chaired by Foreign Minister Diana Mondino and by the Secretary of Finance of the Ministry of Economy, Pablo Quirno.
In this context, the Minister of Foreign Affairs highlighted “the work that the Government has been doing to create the conditions for attracting investments.” In this regard, she pointed out that this Ministry “is carrying out intensive work in promoting foreign investments in the country, including the large investments contemplated in the RIGI,” with the potential to create new sources of quality direct and indirect Argentine jobs.
The Finance Secretary, for his part, indicated that “today we are giving some sectors the conditions that we intend to have for the entire economy. With the RIGI we generate a virtuous circle, in which those projects that require a very significant capital investment as the minimum required have these conditions.” In addition, Quirno added that “the stabilization plan that we have designed seeks to achieve something that Argentina has never achieved in its history, which is to have a fiscal, financial and lasting surplus over time.” Finally, the Finance Secretary expressed that “this government is absolutely committed to eliminating the fiscal deficit.”
The high attendance at the Seminar reflects the renewed interest of foreign investors in the potential offered by Argentina and the RIGI. More than 200 people participated in the event, including foreign ambassadors; national authorities; the Executive President of the Argentine Agency for Investment and International Trade, Diego Sucalesca; presidents of some of the main chambers of commerce in the country; and representatives of companies with investment projects in Argentina such as Rio Tinto, Equinor, Hilton Chain, POSCO International Corporation, DOW, Petronas, Chevron, TECHINT Engineering and Construction, Lake Resources, Glencore and Plus Petrol, among others.
The Seminar also included the participation of specialists from law firms and consulting firms who clarified technical aspects related to the application of the RIGI.
The event was broadcast live via videoconference and on the Ministry of Foreign Affairs' YouTube channel, for government authorities and foreign investors, who were invited by our network of Embassies and Consulates abroad.
The RIGI applies to the sectors of Forest Industry, Tourism, Infrastructure, Mining, Technology, Steel, Energy and Oil and Gas. To date, there have been announcements of investments that could be included in the Regime, amounting to a total of 39 billion dollars, mainly in infrastructure, mining and oil and gas.
