In a close vote, the Entre Ríos legislature approved joining the RIGI

Despite the obstacles that the opposition had initially put in place, the legislature of Between Rivers approved the accession to Large Investment Incentive Regime (RIGI). The measure will be accompanied by a special regime of incentive for small and medium-sized businesses (SMEs) premises, the RINI, that will seek to promote sectors such as infrastructure, tourism and the forestry industry.

The provincial government considered that the approval of these regimes will put Between Rivers in a moment “key to its economic development.”

Rogelio Frigerio’s administration is expected to balance the attraction of large capital with support for small and medium entrepreneurscreating an environment in which the growth is sustainable and competitive.

RIGI: close vote in the Entre Ríos legislature

The RIGI accession project faced resistance in the Senatewhere legislators Peronists showed objectionsespecially with regard to provincial autonomy and the potential environmental impacts of large-scale projects.

Previously, the opponents had hindered the development of the session: the Peronist senators did not attend the venue and there was no quorum to debate the proposal, so the definition had to be postponed.

The approval was possible thanks to the tie-breaking vote of the radical vice-governor Alicia Aluaniwho assured that the regime will generate the necessary conditions to boost the local economy.

From the ruling bloc, the senators Rubén Dal Molín and Jaime Bendetti defended joining the RIGI, arguing that other districts had already approved the regime and highlighted the Entre Ríos’ need not to be left behind on the map of large investments.

“We need investments and we know that Uncertainty is a component to consider in any investment analysis“he pointed out Dal Molin. At the same time, he pointed out that the province is facing a change of era, in which technology and innovation play a crucial role in economic development.

For his part, the senator Victor Sanzberrofrom the opposition bloc, questioned the project, arguing that RIGI benefits “a handful of big players” at the cost of natural resources and collective rights of the province.

Entre Ríos approved an incentive regime for local SMEs

In addition to the approval of the controversial RIGI, the provincial government also managed to advance the RINI project, a model of support for local SMEs that was built on the bases of the industrial promotion law that had been promoted by the previous governor Gustavo Bordet.

This new regime seeks to strengthen smaller companies and promote their competitiveness through tax incentives and infrastructure support.

He Entre Ríos Business Council expressed his “strong support” for both RINI and RIGI and considered that both regimes provide tools to enhance the economic growth of the province. In a letter addressed to the governor, the entity valued Frigerio’s efforts to create an attractive environment for investments.

“We believe that these regimes represent a significant commitment to the modernization of our economy and will improve the competitiveness of local companies,” the Council stated.