Latest news with #IncentiveRegimeforLargeInvestments
The Star
21-05-2025
- Business
- The Star
Argentina approves US$2.5bil Rio Tinto lithium mining project
President Javier Milei's libertarian government is looking to boost the South American country's mining sector to bring in much-needed foreign currency. — Reuters BUENOS AIRES: Argentina's government has approved a US$2.5bil lithium mining project by Anglo-Australian giant Rio Tinto, marking the first mining project under a new investment incentive regime. The approval of Rio Tinto's Rincon project, located in the northern Salta province, under the Incentive Regime for Large Investments (RIGI) programme was announced by the country's Mining and Energy Coordination secretary Daniel Gonzalez at a conference in the capital Buenos Aires. Argentina's mining sector has expressed concerns over delays in approvals for seven projects submitted to the government since the RIGI programme was launched nine months ago. 'We are grateful because there was strong anxiety over what was happening with the mining RIGIs,' the head of Argentina's Chamber of Mining Companies, Roberto Cacciola, told the conference. 'This was major news.' President Javier Milei's libertarian government is looking to boost the South American country's mining sector to bring in much-needed foreign currency and maintain economic stability as the country faces painful inflation levels. Argentina is the world's No. 4 lithium supplier and together with Chile and Bolivia forms the so-called 'lithium triangle' that holds the world's largest reserves of the white metal used in electronics, electric vehicles and other key technologies. The South American nation also exports gold and silver, and has major copper projects in the pipeline, though none are currently producing. Other firms that applied for mining projects under the RIGI programme include China's Ganfeng, Canada's McEwen Copper and South Korea's Posco. Five of the projects are for lithium, while the remaining two are for gold and copper, respectively. However, only Rio Tinto's project was approved as of Tuesday, despite a rule that a decision must be made in a maximum of 45 working days. Industry sources said the government likely did not intend to cause delays, but was facing complex approval processes involving various state departments and some companies may have rushed to apply at too early a stage to meet the criteria. The RIGI framework is intended to provide tax and customs benefits, access to international arbitration in case of disputes and long-term stability plans. Argentina exported US$4.8bil of minerals last year, mostly gold, followed by shipments of silver and lithium. — Reuters
Gulf Today
06-02-2025
- Business
- Gulf Today
UAE, Argentina to explore trade and investment opportunities
ABU DHABI: The Ministry of Economy (MoE), in collaboration with the Abu Dhabi Chamber of Commerce and Industry, has hosted a high-level UAE-Argentina economic seminar in Abu Dhabi, bringing together senior government officials and business leaders from both nations to explore new trade and investment opportunities. The seminar was attended by Bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, and Ahmed Jasim Al Zaabi, Chairman of the Abu Dhabi Department of Economic Development (ADDED), Chairman of the UAE Chambers, and Chairman of Abu Dhabi Chamber, alongside a distinguished Argentinian delegation led by Gerardo Werthein, Argentina's Minister of Foreign Affairs, International Trade and Worship. The event was held on the sidelines of an official visit by Argentina's Minister of Foreign Affairs and focused on Argentina's newly launched investment framework, the Incentive Regime for Large Investments (RIGI), and its benefits to international investors. Speaking at the event, Dr. Al Zeyoudi emphasised the UAE's commitment to strengthening economic ties with Argentina and unlocking new opportunities for investment, stating, 'Argentina is an important economic partner for the UAE, and we see significant opportunities to enhance trade and investment flows in sectors that will shape the future of both our nations.' 'The introduction of RIGI reflects Argentina's ambition to create a world-class investment environment, and we believe UAE businesses are well positioned to benefit from this new framework.' Al Zeyoudi also took the opportunity to promote the UAE's own pro-business regulatory environment that, coupled with its global connectivity, advanced infrastructure and strategic location, offers Argentinian businesses an ideal platform to expand internationally. Further, Al Zeyoudi highlighted the UAE's expanding global trade relations via its Comprehensive Economic Partnership Agreement, which make it an attractive gateway for South American companies seeking access to high-growth markets in the Middle East, Asia, and Africa. On his part, Werthein emphasised the significance of strengthening economic and trade cooperation with the UAE, stating that the launch of the Incentive Regime for Large Investments (RIGI) is a pivotal step toward creating a more competitive and investor-friendly environment. He said, 'We are committed to deepening our strategic partnership with the UAE, a global hub for trade and investment. The RIGI framework presents a key opportunity to attract Emirati investments into Argentina's priority sectors, including mining, energy, infrastructure, and technology. We look forward to fostering sustainable, fruitful partnerships that drive mutual growth and further strengthen our economic ties.' The RIGI programme, which offers the global investment community access to projects in key sectors of the Argentinian economy, is designed to attract large-scale international investments by offering significant incentives across key sectors, including mining and energy, infrastructure and tourism, technology and advanced industries and manufacturing.
Mid East Info
06-02-2025
- Business
- Mid East Info
UAE and Argentina Explore new Investment Opportunities at Economic Seminar in Abu Dhabi - Middle East Business News and Information
Argentina presents new investment framework 'RIGI' to UAE business leaders, showcasing incentives across priority sectors such as mining, energy, infrastructure, and technology. Non-oil trade between the UAE and Argentina reached US$537.1 million in 2024, nearly doubling since 2019. HE Dr Thani Al Zeyoudi: 'Argentina is an important economic partner for the UAE, and we see significant opportunities to enhance trade and investment flows in sectors that will shape the future of both our nations.' Abu Dhabi, UAE –February 2025: The UAE Ministry of Economy, in collaboration with the Abu Dhabi Chamber of Commerce and Industry,has hosted a high-level UAE-Argentina economic seminar in Abu Dhabi, bringing together senior government officials and business leaders from both nations to explore new trade and investment opportunities. The event was held on the sidelines of an official visit by HE Gerardo Werthein, Argentina's Minister of Foreign Affairs, International Trade and Worship, and focused on Argentina's newly launched investment framework, the Incentive Regime for Large Investments (RIGI), and the benefits it offers to international investors. The seminar was attended by HE Dr Thani bin Ahmed Al Zeyoudi, UAE Minister of State for Foreign Trade, and HE Ahmed Jasim Al Zaabi, Chairman of the Abu Dhabi Department of Economic Development (ADDED), Chairman of the UAE Chambers, and Chairman of Abu Dhabi Chamber, alongside a distinguished Argentinian delegation led by Foreign Minister Werthein. Speaking at the event, HE Dr Thani bin Ahmed Al Zeyoudi emphasized the UAE's commitment to strengthening economic ties with Argentina and unlocking new opportunities for investment, stating, 'Argentina is an important economic partner for the UAE, and we see significant opportunities to enhance trade and investment flows in sectors that will shape the future of both our nations. The introduction of RIGI reflects Argentina's ambition to create a world-class investment environment, and we believe UAE businesses are well positioned to benefit from this new framework.' HE Al Zeyoudi also took the opportunity to promote the UAE's own pro-business regulatory environment that, coupled with its global connectivity, advanced infrastructure and strategic location, offers Argentinian businesses an ideal platform to expand internationally. Further, Al Zeyoudi highlighted the UAE's expanding global trade relations via its Comprehensive Economic Partnership Agreement, which make it an attractive gateway for South American companies seeking access to high-growth markets in the Middle East, Asia, and Africa. On his part, HE Gerardo Werthein emphasized the significance of strengthening economic and trade cooperation with the UAE, stating that the launch of the Incentive Regime for Large Investments (RIGI) is a pivotal step toward creating a more competitive and investor-friendly environment. He said: 'We are committed to deepening our strategic partnership with the UAE, a global hub for trade and investment. The RIGI framework presents a key opportunity to attract Emirati investments into Argentina's priority sectors, including mining, energy, infrastructure, and technology. We look forward to fostering sustainable, fruitful partnerships that drive mutual growth and further strengthen our economic ties.' The RIGI program, which offers the global investment community access to projects in key sectors of the Argentinian economy, is designed to attract large-scale international investments by offering significant incentives across key sectors, including mining and energy, infrastructure and tourism, technology and advanced industries and manufacturing. It provides regulatory stability, tax incentives, and long-term predictability for foreign investors, ensuring that businesses operating in Argentina can expand with confidence and access high-growth opportunities. The UAE-Argentina seminar concluded with a commitment from both nations to continue strengthening economic collaboration, exploring joint investment projects, trade partnerships, and new areas of cooperation in the years ahead. It builds on growing non-oil trade that reached US$537.1 million in 2024, a 68% increase from 2019. Major Argentinian exports to the UAE include corn, iron pipes, and soybean products, reflecting Argentina's strength in agricultural and industrial goods. Meanwhile, the UAE exports high-value machinery and tools, supporting Argentina's growing manufacturing and technology sectors. In 2018, the two nations took a significant step towards deepening investment ties with the signing of a Bilateral Investment Treaty (BIT), reinforcing a shared commitment to fostering a transparent and secure investment environment for businesses in both countries. The UAE also continues to explore closer engagement with South American countries, including Argentina, through direct discussions with Mercosur, the South American trade bloc, to enhance market access and trade flows across the region.
Dubai Eye
05-02-2025
- Business
- Dubai Eye
UAE, Argentina explore new investment opportunities
The Argentine Minister of Foreign Affairs and International Trade, Gerardo Werthein, met with Emirati officials from the Ministry of Economy to increase bilateral trade. Argentina recently launched the Incentive Regime for Large Investments (RIG), a new initiative designed to attract investment in steel, infrastructure, energy, and technology. Hoping to build on non-oil trade that reached $537.1 million in 2024 that mainly consisted of industrial products and manufacturing products, UAE Minister of State for Trade Affairs Dr. Al Zeyoudi stressed the country's commitment to unlocking new opportunities for investment. "Argentina is an important economic partner for the UAE, and we see significant opportunities to enhance trade and investment flows in sectors that will shape the future of both our nations. The introduction of RIGI reflects Argentina's ambition to create a world-class investment environment, and we believe UAE businesses are well positioned to benefit from this new framework,' Al Zeyoudi said. The official also highlighted the UAE's expanding global trade relations via its Comprehensive Economic Partnership Agreement, which make it an attractive gateway for South American companies seeking access to high-growth markets in the Middle East, Asia, and Africa. The event was held on the sidelines of an official visit by Argentina's Minister of Foreign Affairs and focused on Argentina's newly launched investment framework, the Incentive Regime for Large Investments (RIGI), and its benefits to international investors. The RIGI programme, which offers the global investment community access to projects in key sectors of the Argentinian economy, is designed to attract large-scale international investments by offering significant incentives across key sectors, including mining and energy, infrastructure and tourism, technology and advanced industries and manufacturing. It provides regulatory stability, tax incentives, and long-term predictability for foreign investors, ensuring that businesses operating in Argentina can expand with confidence and access high-growth opportunities. It builds on growing non-oil trade that reached $537.1 million in 2024, a 68% increase from 2019. Major Argentinian exports to the UAE include corn, iron pipes, and soybean products, reflecting Argentina's strength in agricultural and industrial goods. UAE exports consisted of high-value machinery and tools, supporting Argentina's growing manufacturing and technology sectors. In 2018, the two nations took a significant step towards deepening investment ties by signing a Bilateral Investment Treaty (BIT), reinforcing a shared commitment to fostering a transparent and secure investment environment for businesses in both countries. The UAE also continues to explore closer engagement with South American countries, including Argentina, through direct discussions with Mercosur, the South American trade bloc, to enhance market access and trade flows across the region.
Emirates 24/7
05-02-2025
- Business
- Emirates 24/7
UAE, Argentina explore new investment opportunities
The Ministry of Economy, in collaboration with the Abu Dhabi Chamber of Commerce and Industry, has hosted a high-level UAE-Argentina economic seminar in Abu Dhabi, bringing together senior government officials and business leaders from both nations to explore new trade and investment opportunities. The seminar was attended by Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, and Ahmed Jasim Al Zaabi, Chairman of the Abu Dhabi Department of Economic Development (ADDED), Chairman of the UAE Chambers, and Chairman of Abu Dhabi Chamber, alongside a distinguished Argentinian delegation led by Gerardo Werthein, Argentina's Minister of Foreign Affairs, International Trade and Worship. The event was held on the sidelines of an official visit by Argentina's Minister of Foreign Affairs and focused on Argentina's newly launched investment framework, the Incentive Regime for Large Investments (RIGI), and its benefits to international investors. Speaking at the event, Dr. Al Zeyoudi emphasised the UAE's commitment to strengthening economic ties with Argentina and unlocking new opportunities for investment, stating, 'Argentina is an important economic partner for the UAE, and we see significant opportunities to enhance trade and investment flows in sectors that will shape the future of both our nations. The introduction of RIGI reflects Argentina's ambition to create a world-class investment environment, and we believe UAE businesses are well positioned to benefit from this new framework.' Al Zeyoudi also took the opportunity to promote the UAE's own pro-business regulatory environment that, coupled with its global connectivity, advanced infrastructure and strategic location, offers Argentinian businesses an ideal platform to expand internationally. Further, Al Zeyoudi highlighted the UAE's expanding global trade relations via its Comprehensive Economic Partnership Agreement, which make it an attractive gateway for South American companies seeking access to high-growth markets in the Middle East, Asia, and Africa. On his part, Werthein emphasised the significance of strengthening economic and trade cooperation with the UAE, stating that the launch of the Incentive Regime for Large Investments (RIGI) is a pivotal step toward creating a more competitive and investor-friendly environment. He said, 'We are committed to deepening our strategic partnership with the UAE, a global hub for trade and investment. The RIGI framework presents a key opportunity to attract Emirati investments into Argentina's priority sectors, including mining, energy, infrastructure, and technology. We look forward to fostering sustainable, fruitful partnerships that drive mutual growth and further strengthen our economic ties.' The RIGI programme, which offers the global investment community access to projects in key sectors of the Argentinian economy, is designed to attract large-scale international investments by offering significant incentives across key sectors, including mining and energy, infrastructure and tourism, technology and advanced industries and manufacturing. It provides regulatory stability, tax incentives, and long-term predictability for foreign investors, ensuring that businesses operating in Argentina can expand with confidence and access high-growth opportunities. The UAE-Argentina seminar concluded with a commitment from both nations to continue strengthening economic collaboration, exploring joint investment projects, trade partnerships, and new areas of cooperation in the years ahead. It builds on growing non-oil trade that reached US$537.1 million in 2024, a 68% increase from 2019. Major Argentinian exports to the UAE include corn, iron pipes, and soybean products, reflecting Argentina's strength in agricultural and industrial goods. Meanwhile, the UAE exports high-value machinery and tools, supporting Argentina's growing manufacturing and technology sectors. In 2018, the two nations took a significant step towards deepening investment ties by signing a Bilateral Investment Treaty (BIT), reinforcing a shared commitment to fostering a transparent and secure investment environment for businesses in both countries. The UAE also continues to explore closer engagement with South American countries, including Argentina, through direct discussions with Mercosur, the South American trade bloc, to enhance market access and trade flows across the region. Follow Emirates 24|7 on Google News.
