For its part, local investment or Gross Capital Formation, reached $141,199 million in the third quarter of 2021. This represents a rise of 10.4% compared to the same quarter of 2019. Transport materials grew 37.3%; the category of machinery and equipment, 16.2%; and the construction sector, 3.3%.
The monitor who prepares the Argentine Investment and International Trade Agency, goes further. Based on its own databases and others formulated by the private sector, it compiles all investment announcements made by foreign and local companies to project a future scenario. Total, During 2021, 217 initiatives were registered for an amount that exceeds US$27.7 billion.
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Is about “Announcements, announcements in progress and specific investment announcements that allow us to visualize the trends and sectoral composition in Argentina”. According to the official document to which was able to access Scopethe largest investments were concentrated in the fourth quarter of the yearwhich contained 58% of the announced annual amount. 87% of these projects correspond to foreign companies and 13% to firms based in the country.
In regards to the receiving sectors, Renewable Energies concentrated around 54% of the adswith a total of 3 initiatives that accumulated nearly $8.62 billion. The initiative of the Australian company stands out Fortescue Metals Groupintended for the production of green hydrogen in Río Negro for an amount of US$8.4 billion. Other sectors that account for a large percentage of future disbursements are: Oil and Gas19% of the total; Mining, 12%; and Industrial Goods10%.
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The official expectation is that a large part of these investments will bring disbursements during this year and help increase the reserves of the Central Bank. This would help ease exchange rate tensions to reduce the gap and meet the goal agreed with the International Monetary Fund to add US$5,000 million to the coffers of the monetary entity.
Source: Ambito
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