The San Juan Chamber of Deputies has approved the province's adherence to the Regime of Incentives for Large Investments (RIGI), a program promoted by the national government. Governor Marcelo Orrego welcomed the initiative, emphasizing that this adherence will open new opportunities for development and progress in the province. "San Juan's adherence to the RIGI is excellent news. It opens a great door to development, work, and progress. I congratulate and thank the legislators who prioritized the welfare of the province and our people," Orrego stated.
By Panorama Minero
With 21 votes in favor and 14 against, the local ruling party managed to pass the initiative, which aims to attract investments exceeding $200 million. The province's leading business chambers, including the Chamber of Foreign Trade, the Chamber of Construction, and the San Juan Mining Chamber, had already emphasized in a joint statement issued a few weeks ago the importance of having a framework that provides certainty, legal security, and protection of acquired rights to attract large investments. Finally, this Thursday, after more than six hours of session, this announcement materialized, setting the productive sector of San Juan in motion. The province is home to five mega-projects in copper and other minerals crucial for the energy transition and geopolitics.
San Juan thus becomes the fifth province to adhere to the RIGI, joining Río Negro, Jujuy, Mendoza, and Chubut, while Salta has secured preliminary approval in the Chamber of Deputies. The approval of this project was highly anticipated by both the provincial government and local, national, and international businesses, particularly in the mining sector, where several investors, including BHP, the Lundin Group, and McEwen Copper, have already shown interest. After intense weeks of debates and negotiations, the Legislature gave the green light to the project promoted by Orrego, thus formalizing support for a regulation that promises to invigorate the provincial economy.
The RIGI offers tax, customs, and exchange incentives for 30 years for investment projects exceeding $200 million. In addition to attracting national and foreign capital, the regime aims to promote economic development and strengthen competitiveness in strategic economic sectors.
