The president of IRSA, Eduardo Elsztain, highlighted the growth potential that Argentina has in the mining sector, but pointed out the need to increase investments to fully take advantage of it. Compared to Chile and Canada, where investment in the mining sector amounts to approximately 10% of GDP, in Argentina this figure is less than 1%.
Elsztain emphasized the importance of foreign direct investment, although he noted that it is beneficial to have local partners. He highlighted that the current economic stability facilitates the arrival of investments, as it is becoming less profitable to acquire properties abroad compared to the genuine opportunities that Argentina offers.
Regarding the country's fiscal situation, the president of IRSA praised the stability and the absence of money printing by the government. However, he warned that the lack of credit for investments, currently at minimal levels in the region, reinforces the importance of foreign direct investment to boost productivity and job creation.
Elsztain stressed the relevance of maintaining macroeconomic stability to favor lower interest rates and encourage investments. He also highlighted that there are currently interlocutors in the Government who facilitate communication with foreign investors, emphasizing the advantages that the country offers and the Employment Generation Incentives Program.
Regarding future projections, Elsztain estimated that investments will accelerate as the economy grows, anticipating a significant rebound throughout 2025 and with greater strength in 2026. He exemplified this trend by mentioning the increase in requests for commercial spaces in shopping malls, contrasting with the closures of stores observed until the beginning of 2024.
