The administration’s ambitious roadmap for economic transformation achieved a major milestone this Wednesday, as the Chamber of Deputies granted “media sanción” (initial approval) to the “Super RIGI” project. With 130 votes in favor, 106 against, and 7 abstentions, the bill—formally titled the “Incentive Regime for Large Investments in New Industries”—is now set to advance to the Senate, marking a pivotal step in the government’s plan to attract massive, high-tech capital to the country.

This legislative success, secured with the backing of key allied blocs, underscores the government’s determination to pivot Argentina away from stagnation and toward becoming a competitive player in global markets such as artificial intelligence, biotechnology, and advanced semiconductor manufacturing.

Core Features of the “Super RIGI”

The “Super RIGI” is designed to be an aggressive catalyst for projects that do not currently exist in the Argentine market or are in experimental stages. Key provisions include:

  • Elevated Investment Threshold: To qualify, projects must commit to a minimum investment of $1 billion USD, ensuring that the regime targets large-scale, high-impact enterprises.

  • Fiscal Incentives: The bill establishes a 15% rate for Income Tax, a 3.5% rate on distributed dividends, and a fixed 10% rate for employer contributions for new jobs created under the regime.

  • Regulatory Stability: Mirroring the original RIGI, the project guarantees 30 years of regulatory stability, providing the long-term predictability necessary to secure major international investments.

  • Duty-Free Trade: Total exemption from import and export duties for goods directly linked to the approved investment plans, lowering entry and operational costs for new industrial ventures.

  • Provincial Adherence: The bill establishes a 0.5% cap on Gross Receipts Tax for provinces that choose to adhere to the regime, alongside the elimination of arbitrary municipal taxes on sales.

A Focus on Innovation and Growth

During the intense parliamentary debate, proponents of the bill emphasized that the regime is not a “fiscal cost” but a “productive investment.” By targeting sectors like AI and renewable energy, the administration aims to modernize the national productive structure. Legislators supporting the project argued that it is the “gateway for the industries we don’t yet have,” framing the regime as a necessary step to overcome the isolationist patterns of the past.

The bill also includes the creation of a “Public Registry of Projects,” ensuring transparency by making the status of all investments under the regime available to the public.

Path Ahead

While the opposition characterized the project as a “fiscal giveaway” and a breach of sovereignty, the government remains confident in its ability to navigate the upcoming Senate sessions. The successful passage in the Lower House acts as a clear signal to global markets that Argentina is deepening its commitment to legal security and pro-market reforms.

As the “Super RIGI” moves to the Upper House, the focus remains on securing the remaining legislative support to solidify a framework that the government expects will lead to a new era of industrialization and national prosperity.

Stay informed as we track the progress of these vital reforms and their impact on Argentina’s path to becoming a global investment destination.