2024 Regional Roundtable Update: Argentina
2024 Argentina Regional Update
Firm Name: Bruchou & Funes de Rioja
Author: Agustina Rocca
1. How is the political environment impacting business in or with your country?
The recent political changes in Argentina, following the assumption of President Javier Milei’s administration, have introduced a more business-friendly environment. With a focus on reducing public spending, controlling inflation, and limiting government intervention in the private sector, Milei aims to stimulate economic growth. However, given that Milei’s political party holds a minority in the National Congress, the implementation of these policies requires the support of other players, which entails several challenges.
Despite this, certain sectors such as energy, mining, technology, and agribusiness have already captured the interest of both local and international investors. With the dissipation of the uncertainty surrounding the national elections, transactional activity in Argentina may gain momentum.
2. Which countries have you previously collaborated with and do you see potential for future collaboration with on cross-border matters within the region?
Law firms in Argentina have historically collaborated with law firms in neighboring countries such as Brazil, Chile, and Uruguay on cross-border matters within the region. These collaborations have been essential for handling business projects in Latin America, leveraging each jurisdiction's expertise and local knowledge. Additionally, there is a growing potential for future collaboration with law firms in Colombia, Peru, and Mexico as these countries continue to attract foreign investment and develop their legal frameworks to facilitate cross-border transactions within the region. Implementing the legislative changes proposed by the new administration in Argentina may further encourage regional collaboration, opening up new opportunities for cross-border cooperation.
3. What legislation has recently changed or is changing that a potential international client should be aware of?
We have historically collaborated with law firms in neighboring countries on cross-border matters within the region. Particularly, we see collaboration with law firms from Brazil, Uruguay, and Paraguay involving different sectors, including energy, infrastructure, telecommunications, finance, and forestry, especially in generating carbon credits. These collaborations are essential for handling business projects in Latin America, leveraging each jurisdiction's expertise and local knowledge. Implementing legislative changes proposed by the new administration in Argentina may further encourage regional collaboration, opening up new opportunities for cross-border cooperation.