AmCham: US investment to reach US$20B

Source: Buenos Aires Herald
By: Herald Staff
08.30.2016

More than 14,000 jobs will be created over the next two years by United States firms. United States companies have already confirmed investments for US$2.4 billion in Argentina, which would be followed by another US$18 billion, exceeding the US$20 billion to be spent in the country on the next two years, according to he President of the United States Chamber of Commerce in Argentina (AmCham), Alejandro Díaz.

“More than 14,000 jobs would be created in the next two years by United States companies, mainly on the service sector, which represents between seven and eight percent of the country’s GDP but could reach 30 percent,” Díaz said, claiming that there are still steps to be taken for that to happen such as lowering taxes and simplifying regulatory hurdles. “Argentina’s main opportunity to increase the number of jobs is in the service sector,” he added.

AmCham’s head highlighted the export potential of Argentina’s services thanks to the country’s qualified workforce and small-and-medium-sized companies. He said the areas with the most potential are technology, agriculture, design, accounting, engineering and medical diagnostics.

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