The President’s decree, which will be announced today, plans to create a special exchange regime to promote investment in oil and gas, which will allow access to dollars for producers that increase their supply of oil and gas, confirmed Ámbito. The text will establish a reference baseline from which the increase in production will be measured. The Minister of Economy, Martín Guzmán, as well as governors, businessmen and trade unionists will participate in the event.
Meanwhile, in a new bill that entered Congress in the last week, with the signature of Patagonian legislators, Access to dollars was enabled on a base rate of 20% of production, which would appear in the presidential decree.
Last Saturday there was a meeting with the authorities of the oil provinces that make up the Federal Organization of Hydrocarbons Producing States (Ofephi) and the main unions in the sector, where the initiative was also discussed.
In the midst of an international scenario with a greater demand for energy, Guzmán sees that the international conditions are right for Argentina to be able to export Liquefied Natural Gas in the future.
At the moment, the oil sector is key in Argentine exports. According to INDEC data, the petrochemical complex in 2021 sold abroad US$5.208 billion in oil and gas, a jump of 42.3% compared to 2020.
Other key industry
On the Kulfas side, its Cannabis project also seeks to exploit a sector with potential for investment. At the beginning of May, the minister celebrated the sanction of the Medical Cannabis Law that establishes a regulatory framework for public and private investment in the entire medical cannabis and industrial hemp chain. The objective of Kulfas points to exports and also to a boost in the domestic market to improve the income of small and medium-sized companies (SMEs) and companies dedicated to the sector.
The objective of the Government in principle is to manage to move more than US $ 500 million a year through cannabis. Starting with cultivation for medicinal purposes, which could have a huge impact on the various regional economies. Some other segments stand out internationally, such as the development of plant-based cosmetics, supplements, vegetable fibers and even biofuels.
Although the industry in the country is still in a growth stage, the production of medicinal cannabis already has businesses going. The main local laboratories are working on the subject and on the development of the product. Likewise, other laboratories are already importing the pharmaceutical raw material.
Source: Ambito
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