ANNOUNCEMENT 10 Nov 2016
The Argentinian Government created the National Program for the Transformation of Production (i.e. "Programa Nacional para la Transformación Productiva") aiming to boost the modernisation of the local industry.
NUMBER OF INTERVENTIONS
Production Ministry and Labor, Employment and Social Security Ministry. Ministerios de Producción y Ministerio de Ttabajo, Empleo y Seguridad Social. Resolución Conjunta 1-E/2016. http://servicios.infoleg.gob.ar/infolegInternet/anexos/265000-269999/267707/norma.htm
Ministry of Production of Argentina. Ministerio de Producción. Programa de transformación productiva. Available at: https://www.produccion.gob.ar/tramites/argtransforma-58281
On November 14, 2016, the Production Ministry and Labor, Employment and Social Security ministry of Argentina passed the Joint Resolution 1 E/2016, approving a series of measures to boost the competitiveness and the production of local companies. This new program includes state loans that will be implemented through the Argentine Economic Development Fund (i.e. FONDEAR) created on April 29, 2014.
Dynamic companies with approved projects starting in August 2017, can apply to credit lines of up to USD 57,458 (ARG 1 million) per hired employee. These credits enjoy a 6% interest rate.
Among the series of measures to boost the competitiveness and the production of local companies included in Joint Resolution 1 E/2016, passed on November 14, 2016, by the Production Ministry and Labor, Employment and Social Security Ministry of Argentina, there were some specific provisions related to worker's benefits. In particular, the provision includes special subsidies in the form of salary payments, for competitive companies that hire new workers. In this sense, companies enclosed in this framework may receive from the government the minimum official wage for up to 9 new workers incorporated into the company.