Then, he analyzed the international context and considered that “Argentina has a formidable opportunity for the future” in a framework in which the world “will demand food and energy.”
“We have everything the world demands in terms of energy. Gas is a transition energy and Argentina is a huge source of gas with immense export potential,” Fernandez affirmed in an act in Casa Rosada together with the Minister of Economy, Martin Guzman, where a special foreign exchange access regime for hydrocarbon production was announced. Also participating were the president of the Central Bank, Miguel Fish, and the Secretary of Energy of the Nation, Dario Martinez.
The head of state said that they are “taking serious, sensible, firm steps together so that once and for all Argentina stands up once and for all” and so that “everyone walks, not just some.”
“We have a unique opportunity; the world demands everything that Argentina has”, Fernandez stated.
Earlier, Guzmán stressed that the new special regime for access to foreign currency “It seeks to generate a greater flow of currency between Argentina and the rest of the world, so that there are more dollars in the country, and thus be able to grow more and generate more work.”
The presence of Alberto Fernández with his two “star” ministers from the economic cabinet is not accidental. He represents great support for the management of the ministers in their work after the departure of a minister with great impact such as Feletti. The announcement of the relief from the stocks for oil companies is key to promoting investments in Vaca Muerta to boost production and thus, also with a view to next year, to be able to reduce the numbers of energy imports that today take a good amount of dollars that the Central Bank (BCRA) manages to accumulate.
The decree 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 gasconfirmed Ambit. The text will establish a reference baseline from which the increase in production will be measured.
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
In addition to the benefit for the oil companies, The enactment of the Law on Medicinal Cannabis and Industrial Hemp, a flagship law promoted by the Minister of Productive Development, is also expected.
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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