New government incentives are benefiting mining and energy projects, amid environmental concerns. The Large Investment Incentive Regime (Rigi) has so far attracted 11 proposals since being approved. These projects represent a combined total of USD 15.5 billion in investment pledges. Most focus on energy and mining. The government expects the Rigi’s incentives to lead to a boom in energy and mining exports, expanding the economy. But experts point out that the Rigi has not attracted as many brand-new investment proposals as it may seem, and that it could risk domestic deindustrialisation by encouraging the import of equipment required for these projects. Moreover, they are concerned about the Rigi’s lack of consideration for environmental protections, and its prioritisation of corporate access to strategic resources, including water. “Companies from China, but also from Korea, Japan, India and Canada are favourable to submit projects.”
SOURCE: YNET NEWS
https://dialogue.earth/en/business/argentina-bets-on-extraction-to-boost-economy/
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