By means of a decree, regulations on agreements, concessions and the new Private Initiative Regime were included.
The Government continues with the regulation of the law Bases. The Official Gazette published new rules for three sections: contracts and agreements, concessions and the private initiative regime.
By decree 713/2024 with the signatures of the President, the Chief of Staff, Guillermo Francos, the Minister of Economy, Luis Caputo and the Minister of Deregulation Federico Sturzenegger, The Government has regulated a new section of the Law of Bases and Starting Points for the Freedom of Argentines, which it considers a fundamental pillar for the economic development of the country. This is the section included in Title III.
The new regulated measures define the the Government’s ability to renegotiate or terminate public works contracts, of concession, construction or provision of goods and services and their contracts, based on certain criteria or objectives that would not have been met by the company in charge of the work until December 10, 2023.
However, the decree states thatand those works that have reached 80% of the execution of the contract will be exempt, since they consider that cancelling them would be “financially inconvenient” for the State.
These modifications by the Executive seek to offer greater legal security to investments that are required, as well as promoting the presentation of private initiatives for the development of public infrastructure.
Basic Law: what remains to be regulated
So far, the Government had only regulated some chapters of the fiscal package. This first regulation included four chapters with sixty articles that concern the delegations of powers in the Executive Branch.or, the privatisation of public companies or those with state participation; the rules included in the administrative procedure; and the rules related to public employment.
At this point it can be seen that for a next stage there are still some important chapters pending, such as the Regime of Incentives for Large Investments (RIGI), elements related to hydrocarbons, agricultural work, environmental legislation and tobacco, among others.
Source: Ambito
