Uber will double its investment in Argentina and allocate USD 1 billion over three years

Uber will double its investment in Argentina and allocate USD 1 billion over three years
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Argentina

Minister Luis Caputo confirmed a new disbursement of USD 500 million and highlighted the company's confidence in the country

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In that same vein, he detailed the scope of the new investment commitment: “As part of our planned acquisition of Delivery Hero, we are building long-term in Argentina with an additional commitment of 500 million dollars over three years, along with the commitment we announced in March. We are excited about what comes next.”

The announcement consolidates a sustained expansion strategy of the company in the country, in a context where Argentina is identified by the company itself as one of its most dynamic markets. The total projected investment, reaching USD 1,000 million, aims to strengthen its presence and develop new initiatives related to its service ecosystem.

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The Minister of Economy, Luis "Toto" Caputo, announced a new investment from the company Uber of 500 million dollars in Argentina, which adds to the 500 million already announced in March.

Thus, the company plans to allocate a total of USD 1,000 million in the country over the next three years, signaling a strong commitment to the local market.

The confirmation came after publications from both government officials and company executives, highlighting the growing interest of the firm in expanding its operations in the country.

Uber's own president, Andrew Macdonald, referred to the matter through a message on social media after having a conversation with the head of the Ministry of Economy.

Luis Caputo
Luis Caputo

“I just had a great conversation with Argentina's Minister of Economy, Luis Caputo, to reaffirm what I have said before: that Argentina is one of Uber's most dynamic markets, and our conviction has only grown stronger,” the executive expressed.

Uber
Uber

Caputo's Message

For his part, Caputo also used his social media to emphasize the magnitude of the disbursement and link it to the current economic scenario.

“500 million dollars in investment, additional to those already announced in due time, from Uber over the next 3 years. Investments that come hand in hand with the confidence in the economic direction outlined by our president,” the minister stated.

In this case, Uber's decision to double its financial commitment reinforces positive expectations regarding Argentina's economic future under the government of Javier Milei.

With this new disbursement, the company deepens its presence in the country and reaffirms its growth strategy, while the government highlights the influx of capital as a result of confidence in the economic program promoted by the libertarian administration.