UPDATE 1-Argentina's Dujovne says foreign direct investment to double in 2017

Source: Reuters
2/02/2017

Feb 2 Argentina's government expects foreign direct investment to double in 2017 from 2016, Treasury Minister Nicolas Dujovne said on Thursday, citing inflows from public auctions for renewable and non-renewable energy projects.

President Mauricio Macri has struggled to attract investment in his first year in office, even though investors generally have praised his reform agenda, which has included letting the peso currency float, reducing the fiscal deficit and reaching a deal with holdout creditors to return to the global bond market.

"We started from a very low base," Dujovne said. "It's difficult to put a number on it, but it will be much higher than in 2016."

The center-right administration held an investment forum in September 2016, attracting thousands of corporate executives to Buenos Aires and yielding high-profile investment pledges from companies like Siemens AG.

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