Guzmán met French businessmen in Paris: he told them that the government will gradually adapt capital controls to encourage investment

The Minister of the Economy, Martin guzman, held a meeting in Paris with representatives of French companies with a strong presence in Argentina, to whom he made a presentation on the pillars of the macroeconomic program of stabilization and deepening of the economic recovery.

During the meeting, the Minister, accompanied by the Ambassador Leonardo of Constantine, spoke with businessmen from the most important French companies in the sectors in which they operate on the situation in Argentina in the context of the pandemic. In this sense, Guzmán stressed that “thanks to the action of the State to take charge of the most vulnerable sectors, the work and the know-how of the economy, the recovery is taking place more quickly than in the rest of the region”.

Among the French businessmen and executives were Eric Scotto, Chairman of Akuo Energy (development of renewable energy projects); David Corchia, President of Eren (he participated in two wind projects in Argentina, including the “Malaspina” wind farm in Chubut); Arnaud Breuillac, Senior Vice-President of Total (a global energy giant, with strong interests in Argentina, including the formation Vaca Muerta); Philippe Gundermann, vice-president of Eramet (who last year, at the start of the pandemic, stopped the Centenario-Ratones lithium project in Salta); Marc-Antoine Lucchini, Head of the International Region of General Medicines of Sanofi (the largest French pharmaceutical company, which from July will produce 125 million Pfizer vaccines against the coronavirus), and Denis simnoneau Delegate of the Chairman for corporate and government relations of L’Oréal (one of the most important cosmetics companies in the world and source of the fortune of Françoise Bettencourt-Meyers, granddaughter of the company’s founder and who rose to the top of the Forbes ranking as the richest woman in the world).

Before the start of Guzmán’s tour, which has covered Germany, Italy, Spain and France and will be extended with a visit, from Monday to Russia, several European companies based in Argentina have transmitted to their governments complaints about the import barriers they face. in their operations in our country and affect their supply of inputs, which the minister should have heard in his talks with government officials, and even more with businessmen, in this case the French, who He clarified that with regard to capital controls, what the government is looking for is “a path with macroprudential capital account regulations”. The minister said that Argentina “is taking measures in this regard, such as the decree on large investments, which implies an adaptation of the regulations, in order to favor investments which increase the exportable capacity of the country”.

A statement from the economic portfolio stated that “Businessmen intervened to express their concerns and the challenges they see for the future, and the Minister answered each of the questions. In this sense, the businessmen thanked the Minister for the opportunity to speak, and underlined the wealth, the comparative advantages of Argentina and the will to continue investing in the country ”.

Guzmán’s next destination is Moscow, where he will travel accompanied by Argentina’s representative on the IMF board, Sergio Chodos, and will try, with the presidential adviser, Cecilia Nicolini, promote productive programs and financing allowing the manufacture of the Sputnik V vaccine in our country. The visit includes a meeting with the Minister of Finance, Anton Siluanov, and members of the Russian Foreign Ministry.

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