BUENOS AIRES, Oct. 30 (UPI) -- The Incentive Regime for Large Investments, or RIGI, is one of the main pillars of Argentine President Javier Milei's economic plan. A recent report from the Rosario Board of Trade said projected investments under the program total $33.9 billion over a period of five to 10 years.
Of that amount, 46.5%, or $15.7 billion).already has been approved across eight projects. The most recent addition is one by Canada's McEwen Copper, which plans to invest $2.7 billion in the Los Azules copper mine.
The remaining 53.5% is still under review, with only one project valued at $273 million rejected so far. It is the "Mariana" project by China's Ganfeng Lithium, which began to produce lithium chloride in Salta earlier this year.
"Energy and mining are the leading sectors among RIGI applications. Together they account for 98.3% of the total so far, with 64.8% in mining and 33.5% in energy. Rounding out the total are investments in port infrastructure and steelmaking, each representing about 0.9% of all applications," the report said.
The RIGI aims to provide stable conditions and a viable tax framework so that both foreign and Argentine investments can develop in a more favorable environment.
