Argentina's Minister of Economy, Luis Caputo, held a meeting with the Argentine Industrial Union (UIA) to discuss labor reform and steps to be taken to make the industry 'increasingly competitive' by 2026. The meeting, held at the Ministry of Economy, addressed the concerns of the industry, as well as the objectives and possible measures to navigate a 'challenging period' leading up to 2026. The meeting was marked by 'stagnant activity, job losses, and difficulties in sustaining production in certain sectors.' The industrial sector, one of the hardest hit this year, continues to struggle while construction remains on the rise. In 2025, industrial activity was characterized by a 'weak, heterogeneous production dynamic with a negative impact' on formal employment, where 4,303 jobs were lost in September and 21,190 fewer in the first 9 months of the year, according to UIA details. At the board meeting, industrialists stated that the 'macroeconomic stabilization and fiscal balance implemented by the government are very positive steps,' although they emphasized the need for 'measures for greater access to credit and a reduction in record fiscal pressure' on the production of tradable goods that compete globally on unequal terms. UIA members also highlighted the 'imminent' treatment of labor modernization in Congress, considered an 'essential advance to begin reversing structural difficulties in job generation after more than a decade of growth in registered employment.' 'The new regulations aim to reduce litigation, provide greater predictability for companies, and foster the creation of formal employment, central aspects for industrial development that generates direct and value-chain-intensive and qualified jobs.' 'We talked about labor reform, the importance of formalization, and investment,' Caputo noted on his social media. It was also agreed to maintain a management agenda to work together on the sector's problems. Last week, the UIA had met with the Secretary of the Treasury, Carlos Guberman. According to Argentine News Agency, the meeting was attended by the president of the business association, MartÃn Rappallini, the Minister of Economy, and the Secretary of Commerce, Pablo Lavigne, along with members of the entity's executive committee. Subsequently, the UIA held its last Board of Directors meeting of 2025, where the current situation of the industry in the final stretch of the year was addressed.
