Within the framework of its official agenda, this Friday, Alberto Fernandez will promulgate the Law for the Promotion of the Automotive Industry, which was unanimously approved earlier this month in Congress.
The act that will count with the presence of the President, will be held at the General Pacheco Ford factory, located in the province of Buenos Aires. In addition to Alberto Fernandez The Minister of Economy, Sergio Massa, and the Secretary of Industry and Productive Development, José Ignacio de Mendiguren, will be present.
The approval of this law came one day after Alberto Fernandezthe Minister of Economy, and the Secretary of Production praised the industry and declared it a strategic sector.
The initiative promoted by the head of the Palacio de Hacienda, proposes tax benefits for investments in capital goods and infrastructure works for companies based in Argentina that produce cars, trucks and auto parts.
It also contemplates benefits for automotive investments, such as the early return of the Value Added Tax (VAT), since it was established that the return period will be reduced from six to three years and, in the case of the amortization of capital goods, of five to three years.
It also establishes the creation of the Mobility Institute, with eight ad honorem members appointed by companies and unions to coordinate actions that promote the entire industrial chain.
Thanks to the approval of this new law, exports will be increased, which in turn will add reserves to the Central Bank and will promote productive growth, which is one of the objectives of the President.
The bill passed unanimously in Congress.
With 56 votes in favor and unanimously, the project managed to be approved in Congressafter the Chamber of Deputies gave him a half sanction in July, where he had 227 votes in favor, eight against and only one abstention.
In addition to having the backing of the Government, it was supported by the Association of Automotive Factories (ADEFA), the Association of Argentine Component Factories (AFAC), and the SMATA and UOM unions.
