Milei's Argentina attracts over USD 55 billion in new strategic investments

Argentina is experiencing a historic moment in terms of foreign direct investment. In just a few days, Javier Milei's government has managed to attract more than 55 billion dollars in strategic productive projects, led by OpenAI, the giant artificial intelligence company founded by Sam Altman, and the YPF–ENI partnership, which will launch the largest liquefied natural gas (LNG) export project in the country's history.

Announced on the same day, both investments became the largest in Argentina's history. YPF-ENI and OpenAI occupy, respectively, the first and second places among the most important investment projects ever recorded in the country, marking an unprecedented milestone for the national economy and consolidating the path of openness and confidence driven by Javier Milei.

In OpenAI's case, the company confirmed a record investment of USD 25 billion to develop an artificial intelligence hub in Argentine Patagonia, which will become the largest in the Southern Hemisphere. The initiative will include supercomputing infrastructure, data centers, and training for personnel specialized in data science and machine learning. According to reports, the project will create more than 50,000 direct and indirect jobs in its first stage.

The project includes the installation of a state-of-the-art data center powered by renewable energy and the creation of tens of thousands of direct and indirect jobs. According to the company, the choice of Argentina is due to its enormous human potential, its energy resources, and the new climate of economic openness.

YPF and Italian company ENI are moving forward with the construction of the largest LNG export project in Argentina's history, with an investment of USD 30 billion. Within 5 years, the agreement includes a modular plant at the port of Bahía Blanca that will allow the liquefaction of gas from Vaca Muerta and its export to Europe and Asia, consolidating Argentina as a relevant player in the global energy market.

Energy Minister Eduardo Rodríguez Chirillo emphasized that this development "marks the beginning of a new era for the Argentine energy sector," and that the project will be "an engine for foreign currency, employment, and energy sovereignty." It is estimated that, once operational, the complex will generate annual exports of more than USD 20 billion, equivalent to almost 4% of GDP.

The two investments—one in technology and the other in energy—reflect the recovery of international confidence in Argentina's economic direction, as anticipated by U.S. Ambassador Peter Lamelas last week. Trade liberalization, market deregulation, and macroeconomic stability promoted by Luis Caputo's team were decisive factors for the country to once again become an attractive destination for global capital.