Government high officials introduced the 'Incentive Regime for Large Investments' (RIGI) to foreign diplomats and investors

Today, the Argentine Foreign Ministry held the Seminar "Incentive Regime for Large Investments (RIGI) - Objectives, Scope and Implementation" to present the new Regime to companies and members of the diplomatic corps accredited in the country. The meeting was chaired by Foreign Minister Diana Mondino and the Secretary of Finance of the Ministry of Economy, Pablo Quirno.

The Foreign Minister highlighted "the work that the Government has been doing in order to generate the conditions for attracting investments." In this regard, she pointed out that the Foreign Ministry "is carrying out an intense work in promoting foreign investments in the country, among them, the large investments contemplated in the RIGI" with the potential to create new sources of direct and indirect quality Argentine jobs.

The Secretary of Finance 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 projects requiring a very important capital investment as the required minimum 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, that is to have a fiscal, financial and lasting surplus over time." Finally, the Secretary of Finance expressed that "this government is absolutely committed to eliminating the fiscal deficit."

The high turnout that the Seminar had reflects foreign investors' renewed interest 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; chairmen of some of the main chambers of the country; and representatives of companies with investment projects in Argentina such as Rio Tinto, Equinor, Hilton, POSCO International Corporation, DOW, Petronas, Chevron, TECHINT Engineering and Construction, Lake Resources, Glencore and Plus Petrol, among others.

Furthermore, also present at the Seminar were specialists from law firms and consulting firms who clarified technical aspects related to the application of the RIGI.

The event was broadcast live by videoconference and on the YouTube channel of the Ministry of Foreign Affairs, for government authorities and foreign investors, who were invited by Argentina's network of Embassies and Consulates abroad.

The RIGI applies to the sectors of Forest Industry, Tourism, Infrastructure, Mining, Technology, Steel Industry, Energy and Oil, and Gas. To date, announcements have been made of investments that could adhere to the Regime and which total 39 billion dollars, mainly in infrastructure, mining and oil and gas.