Wednesday, January 26

Expand access to foreign exchange for large investments

Yesterday, the Central Bank regulated Decree 836/2021 that provided for an increase in benefits in access to the official exchange market for companies that make large investments to expand the country’s export capacity. The decree, published last week in the Official Gazette, provided that projects developed within the framework of the Investment Promotion Regime for Exports that contemplate investments of more than $ s500 million will be able to access more currencies than those foreseen for each calendar year in that the benefit was not used. This regime enables companies that make large investments to freely access a percentage of the exports generated from these capital expenditures. Specifically, now the projects that contemplate investments of between US $ 500 million and US $ 1 billion, for each year in which the benefit is not used, will be able to have double currencies for two consecutive calendar years with a cap of 40% of the investment. In the case of higher investments, the amount is tripled up to a maximum of 60%.