Argentine Gov't Touts "Opportunities" for Foreign Investors

Argentina's government on Tuesday opened the 1st Business and Investment Forum in an effort to attract investment from around the world, drawing more than 1,500 foreign investors and corporate executives.

After nine months of tough economic measures that have been criticized by the public, President Mauricio Macri opened the conference by inviting executives from such companies as BP, Coca-Cola, IBM and JPMorgan Chase to "take a look" at the "opportunities" offered by Argentina and "join" the economic opening that started last December, when he took office.

"We are starting to see strong signs that the recession is being left behind and the world is once again looking at and talking about Argentina," Macri said, adding that his country not only possessed natural resources but also "human" capital and opportunities in all sectors of the economy.

The government is promising "clear rules of the game" for the market, as well as "concrete goals" and "consistency," the president said.

After the opening session at the three-day forum, participants were invited to attend seminars on the global outlook for investing in Argentina and workshops covering opportunities in different sectors.

The elimination of restrictions on the repatriation of profits, the role played by Argentina's strong labor unions, the need to improve infrastructure to bolster productivity and the social returns on business activity are among the topics being addressed during the Business and Investment Forum's first day.


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