Argentina’s Executive Branch, through Decree 749/2024, has approved regulations under the RIGI – the Incentive Regime for Large Investments, as outlined in Law 27,742, on 23 August 2024.
The RIGI regime aims to generate the conditions of predictability, stability and competitiveness necessary to attract large investments in Argentina. It offers customs, tax, legal, and foreign exchange benefits for investments surpassing USD 200 million, which is available for Argentine and international companies.
This new regulatory framework intends to attract substantial investments in mining, oil and gas, energy, technology, and infrastructure.
The aforementioned objectives also establish that the regime is intended to ensure that such investments are made through the temporary advancement of macroeconomic investment solutions, without which certain sectors could not develop with the desired dynamism.
For the oil and gas sector, the Executive Branch increased the minimum investment requirement to USD 600 million or USD 300 million, depending on the circumstances. It also limited RIGI benefits to specific sub-sectors such as offshore exploration, gas production for export, and infrastructure development for storage and transportation of oil and gas.
Onshore oil and gas activities are excluded unless tied to gas exports, while the petrochemical industry is included in the oil and gas sector regulations.
The minimum investment requirement of USD 200 million remains unchanged for the mining, energy, steel, infrastructure, industrial forestry, technology, and tourism sectors.
The decree will enter into force on its publication in the official bulletin.
