Buenos Aires, Argentina – In a significant move to accelerate economic growth and attract foreign capital, the government of President Javier Milei has approved seven projects under the recently established Large Investments Incentive Regime (RIGI), totaling over $13.067 billion. An additional twelve projects, valued at an impressive $21.281 billion, are currently under evaluation, signaling strong international interest in Argentina’s new economic framework.

The RIGI, which was approved in July 2024, is designed to provide substantial fiscal, customs, and legal benefits to strategic investments exceeding $200 million in key sectors such as mining, hydrocarbons, and energy. The head of the Cabinet, Guillermo Francos, confirmed that all approved projects not only meet but exceed the RIGI’s minimum requirement of guaranteeing a local supplier participation rate of over 20%.

Among the approved initiatives are a solar park in Mendoza, a new oil pipeline in the Vaca Muerta formation, and a massive natural gas liquefaction project in Río Negro. These ventures are expected to generate approximately 1,000 direct jobs, in addition to significant indirect employment. While one project was rejected, it is anticipated to be resubmitted, demonstrating the ongoing appeal of the new regime.

The article emphasizes that the RIGI is considered a crucial tool for attracting strategic capital and stabilizing the nation’s economy. The government may consider extending the regime’s validity to accommodate the growing number of large-scale projects, reflecting a sustained commitment to creating a business-friendly environment and positioning Argentina as a premier destination for global investment.