Argentina announces plan to increase technology exports.
Sergio Massa said the plan will be achieved through direct investments in infrastructure and capital goods for new or expanding technology projects.
Reuters - Argentina announced measures on Monday aimed at increasing technology exports to $10 billion by 2023, seeking to support the growth of the "knowledge economy".
The measures, implemented through a presidential decree, will ensure that 20% of foreign currency enters the country and 30% of the money resulting from export growth is available for export-oriented investment projects.
They were announced on Monday by Economy Minister Sergio Massa and Ariel Sujarchuk, Secretary of Knowledge Economy.
This would represent a sharp increase in current technology exports. Latin America's third-largest economy plans to export approximately US$7,4 billion in technology goods in 2022, up from US$6,2 billion in 2021.
The measures come at a time when the government is trying to help its central bank bolster its foreign reserves, which are in trouble.
Massa said the plan will be achieved through direct investments in infrastructure and capital goods for new or expanding technology projects. The plan also aims to formalize jobs in the technology sector.
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