A report from the United States Department of State warns that “economic uncertainty, interventionist policies, high inflation and stagnation” have prevented Argentina from “maximizing its potential.”
In the diagnosis dumped in a work called “Declarations on the Climate for Investments”, in the Argentine chapter, it considers that “capital controls, trade restrictions and price controls increase the economic distortion that hinders the investment climate in the country”.
The report, which is produced annually, is an overview of the business environment in more than 170 countries that are potential markets or investment destinations for US companies.
The work ponders some aspects of Argentina, especially its potential wealth in various fields and its human resources. It is noted that “Argentina presents investment and trade opportunities, particularly in agriculture, energy, health, infrastructure, information technology and mining.” In another passage, Argentine workers are described as “the most educated and skilled in Latin America.”
However, it is noted that “economic uncertainty, interventionist policies, high inflation and persistent economic stagnation have prevented the country from maximizing its potential.”
“Both national and foreign companies frequently point to a high and unpredictable tax burden and rigid labor laws, which make it difficult to respond to changing macroeconomic conditions, as obstacles to greater investment in Argentina,” it was expressed in the work.
On the other hand, it is indicated that “the government of (Alberto) Fernández does not have a formal business round table or other dialogue established with international investors, although it does relate to national and international companies.”