The Legislature of the City of Buenos Aires approved this Thursday the adherence to the Incentive Regime for Large Investments (RIGI) and the creation of the RIMI CABA, a scheme aimed at promoting medium investments within the city. Both initiatives were pushed by the bloc of Javier Milei and managed to advance after a tight vote that ended with 32 votes in favor and 27 against.
The local government supported the projects along with the Confianza y Desarrollo space, led by Horacio Rodríguez Larreta. In contrast, Fuerza por Buenos Aires, the Unión Cívica Radical, and the Left and Workers' Front voted against both initiatives.
From La Libertad Avanza, they celebrated the approval as a sign of alignment of the City with the national government's economic agenda. The president of the libertarian bloc in the Legislature, Pilar Ramírez, stated that “the City could not continue to be left out” and emphasized that large investments seek predictability and legal stability to enter the country.
The adherence to the RIGI aims to attract national and foreign investments related to strategic sectors such as artificial intelligence, data centers, telecommunications, premium tourism, and urban infrastructure. The goal is to turn Buenos Aires into a regional hub for technological, financial, and professional services, even for projects based in other provinces that require corporate support from the Federal Capital.
