“There is a historic opportunity to accelerate the development of the energy sector, and that would be transformational for Argentina from the productive, labor and macroeconomic aspects,” said the minister.
The Treasury Palace, in a statement, reported that at the meeting the minister emphasized that the development of the energy sector will have a positive impact on the entire production system and It will allow “lower production costs with the largest scale and Argentina to become more competitive.”
Also, Guzmán mentioned the importance of increasing the scale of investments and clarified that “local capital is not enough.” For this reason, the minister stated that the national government is working on regulations to adapt capital movements between Argentina and the world.
Before the union representatives, Guzmán stressed that promoting energy investments will increase the accumulation of foreign exchange “because we substitute imports and export more.”
Also, the minister noted that energy development will make it possible to consolidate greater stability in the state accounts“because of the impact of increasing the scale of production and reducing production costs in terms of energy subsidies.”
Guzmán assured that the national government aims to accelerate the development of the different segments of the energy sector such as gas, LNG, oil, and renewable energies.
“We are building a set of conditions for this to be possible,” Guzmán added, while affirming that he is working on “a project that will give rise to Argentina being able to export LNG in the future.”
Source: Ambito
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