The National Minister of Production, Francisco Cabrera, chose the Mendoza Investment Forum 2018 to share his vision on the future of investment as a driver for national growth, highlighting the expansion of the Argentine economy and the projections for 2018. Governor Alfredo Cornejo announced the “Bono Fiscal 2” (Tax Bond 2) to stimulate investments in the province.
Mendoza, March 2, 2018. – The second edition of the Mendoza Investment Forum 2018, organized by the Mendoza Business Council (CEM) and the Provincial Government, took place today. During the event, Francisco Cabrera, National Minister of Production, stated: “We will continue with initiatives that improve the business climate in Argentina. We expect 3.5% growth for 2018.”
In this regard, the Minister announced that the national government is working on several initiatives to improve national production: the Productive Financing Law—also known as the Capital Markets Law—which seeks to finance SMEs; and a new Antitrust Law to prevent monopolistic practices. Cabrera highlighted that during 2017, 13 out of the 15 sectors measured by INDEC showed growth and that, notably, investments in equipment during this period grew faster than construction. “This demonstrates a level of confidence among Argentine business leaders as they prepare for a competitive economy,” he added.
The opening of the Mendoza Investment Forum 2018 was led by Javier Allub, President of the Mendoza Business Council, who remarked: “Through this space for meetings, work, debate, and contributions, we aim to achieve the realization of new investments in our province.”
Governor Alfredo Cornejo followed, stating that “the goal is to put Mendoza back on the path of growth, but this growth must be balanced, equitable, and sustainable.” Furthermore, he announced that he will send a bill to the Provincial Legislature to launch a new tax bond for investment: Bono Fiscal 2, which seeks to stimulate investment in the Province through tax rebates. Additionally, Cornejo announced that the agricultural sector will enjoy an exemption from Gross Receipts Tax (IIBB) starting in 2020; the industrial sector from 2022; and transport within three years, “contributing to improvements in competitiveness by reducing logistics costs.”
Martín Kerchner, Provincial Minister of Economy, Infrastructure, and Energy, presented his vision for the coming years and the investment opportunities available in the Province. The second panel of the day, moderated by José del Río (Editor-in-Chief of La Nación), featured Martín Ramos (CEO of Grupo Peñaflor), Jorge Sampietro (Director of Petroquímica Cuyo and Petroken), and Francisco Uranga (Executive Vice President of the Argentina Investment and International Trade Agency), who debated “Why invest in Mendoza?”.
Subsequently, Benedict Mander, Southern Cone Correspondent for the Financial Times, led the panel “Investment Experiences in Mendoza.” Participants included Osvaldo del Campo (CEO of Galileo Technologies), Alejo López (Commercial Director for Latin America, NEXTracker), Pablo Manzano (Senior Director for the Americas for Ecosystem Development and Public-Private Partnerships at Everis), and Anuj Sharma (CEO of Phoenix Global Resources).
The Entrepreneurial Role
The Mendoza Investment Forum also provided a space for entrepreneurs. María Julia Bearzi, Executive Director of the Endeavor Argentina Foundation, led the panel “Venture Capital: Private Investment as a Driver of Development.” This session featured Marta Cruz (Co-founder of NXTPlabs and President of ARCAP) and Ignacio Estivariz (Senior Corporate Development Manager at MercadoLibre.com).
As the event concluded, participants joined Investment Roundtables led by provincial officials from each sector.
