Milei's RIGI exceeds USD 121 billion and is already transforming the Argentine productive landscape

Almost two years after the regulation of the Incentive Regime for Large Investments (RIGI), the program promoted by the Government of Javier Milei continues to consolidate as one of the main tools for attracting productive capital to Argentina. According to a survey by the consulting firm Globaris, 39 projects totaling USD 121.237 billion have already been registered, mainly concentrated in the energy and mining sectors.

To monitor the progress of these investments, Globaris developed the RIGI Tracker, a tool that allows real-time tracking of the status of each project, the committed amounts, the provinces involved, and the origin of the capital.

The initiative aims to centralize information that until now was scattered among official agencies, companies, and specialized media.

Over USD 100 billion remain under evaluation

According to the data collected by the consulting firm, there are currently:

• 15 approved projects for USD 20.247 billion

• 23 projects under evaluation for USD 100.717 billion

• 1 project recommended for rejection for USD 273 million

The numbers reflect the strong investor interest that the regime has generated since its launch in August 2024.

Energy leads significantly in investment volume, while mining tops the ranking by the number of projects submitted.

Vaca Muerta drives energy leadership

The energy sector accounts for 16 projects worth USD 78.303 billion, equivalent to 64.6% of the total committed investments under the RIGI.

Among the most important initiatives is the YPF project to expand oil exports, valued at USD 25 billion, which has become the largest investment announced within the regime.

Also included are:

• Vaca Muerta Sur Pipeline

• Liquefied Natural Gas (LNG) liquefaction vessel by Southern Energy, Golar LNG, PAE, and YPF

• El Quemado Solar Park

• PCR and Acindar Industrial Wind Farm

• Expansion of the Perito Moreno Gas Pipeline

The focus is on enhancing the development of Vaca Muerta, both in extraction and in transportation and export infrastructure.

Mining consolidates as the second major engine

Meanwhile, mining adds 20 projects worth USD 42.171 billion, representing 34.8% of total investments.

Within the sector, the following stand out:

• 11 lithium projects for USD 13.5 billion

Although there are fewer initiatives related to copper, the investment volume is significantly higher due to the scale of the projects.

The growing global demand for strategic minerals for the energy transition positions Argentina as one of the main investment destinations in the region.

Neuquén and San Juan lead the investment map

The territorial distribution shows a clear leadership of the provinces linked to energy and mining resources.

The main investment destinations are:

1. Neuquén: USD 63.431 billion

2. San Juan: USD 22.784 billion

3. Río Negro

4. Salta

5. Catamarca

Additionally, provinces like Jujuy, Mendoza, and La Pampa are beginning to attract projects related to lithium, copper, and energy infrastructure.

Neuquén thus consolidates as the major epicenter of productive investments in the new Argentine economic phase.

The Super RIGI aims to expand productive transformation

The Government is also promoting the so-called Super RIGI, aimed at sectors that still have limited development in the country.

Among the activities that could benefit are:

• Data centers

• Semiconductors

• Lithium batteries

• Copper refining

• New technological industries

In addition, the Incentive Regime for Medium Investments (RIMI) aims to incorporate smaller-scale projects and expand the participation of new companies and regions.

Meanwhile, current numbers show that the RIGI has already become one of the main instruments for channeling long-term investments and strengthening strategic sectors such as energy and mining, fundamental pillars of the economic model promoted by President Javier Milei