Second time's the charm in Davos

Second time's the charm in Davos

Ministers try to woo investment, promising reforms are underway at the World Economic Forum

Although some of the enthusiasm has worn down for Argentina since Resident Mauricio Macri visited the annual World Economic Forum based in Davos, Switzerland last year, investors and market-movers continued to express confidence in the ongoing financial and economic reforms being carried out by the Let's Change administration.

Macri sent four ministers in his stead to meet with the top leaders, politicians and businessmen that gather in the Switzerland every year. Foreign Minister Susana Malcorra, and'lteasury Minister Nicolás Dujovne led the delegation hoping to attract more investment to the country and convince attendees that Argentina is a shining light in the midst of a global context of uncertainty for investors.

"We are removing the barriers that we had with the world ... Argentina is continuing working to achieve inclusive growth," said Dujovne.

The Treasury minister, who only took over last week after having been appointed unexpectedly by Macri to replace Alfonso Prat-Gay last month, gave talks in two panels during the forum yesterday. One was linked to the G-20 working group agenda and the other was over "structural reforms aimed at inclusive and sustainable growth." In the last panel, Dujovne was joined by the Economy Minister of Italy Pier Carlo Padoan, Nobel Economy Prize winner Joseph Stiglitz, the Central Bank President of Brazil llan Golfajn, and others.

During the speech to the panel, Dujovne stressed how Argentina would work with different countries to try to integrate using the best methods in joining the "fourth industrial revolution." While in another panel, Dujovne referred to the negative inheritance they had received from the previous Victory Front (FpV) administration, explaining to the audience that they are working hard to re-open the country's economy. "The consequence of having an isolated and closed economy for the past 12 years signified for the country the loss of many opportunities that globalisation had to offer," he highlighted.

The Treasury minister noted how they are trying to reform the country's inefficient tax system, and eliminate the informal economy — one in three Argentines are irregular workers. Dujovne also had an important meeting with Inter-American Development Bank (IDB) President Luis Alberto Moreno, who confirmed they would "redouble support for Argentina." Production Minister Francisco Cabrera and Education Minister Esteban Bullrich also were scheduled to meet with various business leaders to try to follow up on investment announcements that were made in the last few months. Some of the companies that are on the list to meet with Cabrera are Mitsubishi, Facebook, Coca-Cola, Price Waterhouse Coopers, Nissan, Dow and Petronas.

Menciones: 

Macri sent four ministers in his stead to meet with the top leaders, politicians and businessmen that gather in the Switzerland every year. Foreign Minister Susana Malcorra, and'lteasury Minister Nicolás Dujovne led the delegation hoping to attract more investment to the country and convince attendees that Argentina is a shining light in the midst of a global context of uncertainty for investors.

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