The Senate this Thursday afternoon signed into law a bill that came under review from the Chamber of Deputieswhich aims to promote, develop and produce modern biotechnology and nanotechnology.
The initiative is one of four laws demanded by the Minister of Economy, Sergio Massaat the time of his assumption as head of the Palacio de Hacienda at the beginning of last August.
The other three initiatives requested by the minister are those of promotion for the buildingthe automotive industry promotion -which will be dealt with tonight- and that of agribusiness.
The session was followed from the venue by the Minister of Science and Technology of the Nation, Daniel Filmuswho first sat on one of the balconies overlooking the hemicycle, until the head of the Frente de Todos caucus, José Mayans, invited him to stand in front of the senators.
With 57 affirmative votes, the project that modifies various articles of Law 26,270 on the promotion of the development and production of modern biotechnology and nanotechnology is unanimously approved
– Argentine Senate (@SenadoArgentina) September 1, 2022
The norm was approved by a large majority, and turned over to the Senate, by the Chamber of Deputies on July 5, with the favorable votes of the Front of All and Together for Change.
The opinion seeks to promote the development and production of modern biotechnology and nanotechnology throughout the national territorywith the scope and limitations established therein and the regulations issued by the National Executive Branch accordingly.
What does the initiative include?
The project allows Those who access the promotion regime can obtain benefits of accelerated amortization of the Income Tax in one installment, early VAT refund and the granting of a tax credit bonus corresponding to 50% of the expenses paid for the contracting of research services. and development (R&D) with institutions of the National Public System of Science, Technology and Innovation.
The Senate signed into law the project for the promotion and development of Bio and Nanotechnology
The standard provides benefits for those who present research and development projects and those who apply improvements in goods and services.#ScienceIsFuture#PeopleFirst pic.twitter.com/3MExuOPZRl
— Daniel Filmus (@FilmusDaniel) September 1, 2022
Another key point is that the enforcement authority will be the Ministry of Productive Developmentresponsible for approving the projects that must comply with the substantial improvement of production processesespecially, that which entails innovation content susceptible to industrial application, economic and social impact.
The president of the Senate Science and Technology Commission, the official from Rio Negro Silvina Garcia Larraburusaid that it is “essential that this bill becomes law because there are a large number of investments in the sector waiting for the regulations”.
“Since we assumed the government, we returned to give ministerial rank to this area”, mentioned the legislator.
In addition, he pointed out that “the State continues to accompany the development of the private sector” and emphasized: “we have a great future ahead of us and we are working together and in a non-partisan manner with the rest of the blocs.”
The radical Víctor Zimmermann stressed that “In the law that we are going to approve, there is no longer a financing fund.”
“If the economic capacity does not exist but the talent does, the State must be present,” warned the vice president of the Science and Technology Commission and judged that “funding is being lost for these small entrepreneurs.”
Zimmermann reiterated that “it is necessary to support the fund in the law” and unsuccessfully proposed a modification to add an article that provides an “incentive for imports for projects that, for the most part, need to bring things from abroad to to be able to advance research and development.
Filmus, celebrated the sanction of the law
The Minister of Science, Technology and Innovation, Daniel Filmus, celebrated this Thursday night the sanction of the Law for the Promotion of Bio and Nanotechnology and assured that “the central countries invest between 3 and 4 points of their GDP in science and technology”.
“The importance of this law lies in the Argentine possibility of promoting the progress of those substantive areas for our development in which we must concentrate investment”the official said in a statement.
“The capacity of the Argentine scientists and technologists, added to the investment of the State, in coordination with the private sector, allows us to transform the productive matrix and develop one of the great sectors of the Knowledge Economy that have to do with the future of the country. “, he assured.
Filmus referred to the different laws related to science and technology that were sanctioned in recent times and remarked that “it is fundamental that we can achieve a great consensus to unanimously approve the laws that make scientific-technological development because it is what allows us that such a strategic area is not tied to changes of government or electoral calendars and thus achieve a coincidence regarding because the country’s future depends largely on the development of science and technology”.
The regulations contemplate that those who access the promotion regime will be able to obtain benefits of accelerated amortization of the Income Tax in one installment, early return of VAT, and the granting of a tax credit bonus of 50% of the expenses allocated to contracting services. of research and development (R&D) with institutions of the National Public System of Science, Technology and Innovation.
