Argentina: Biotechnology could generate more than us$ 760 M in investments

Source: LinkedIn
By: Aldo Leporati
8/30/2017

Mauricio Macri signed an agreement with the biotechnology sector that has the potential to generate us$ 760 M in investments, as both parties have estimated. The joint work agenda sets out to boost the activity, the scientific and technological transfer to the productive system and generate quality jobs. Promoting biotechnology means for Argentines to have access to better medicines, vaccines, safe foods and fuels. Argentina is a regional benchmark in biotechnology development, with local innovations that transcend borders and companies that achieved internationalization.

The agreement signed with the Argentine Chamber of Biotechnology consists of 5 basic axes, one of which is the regulation of the Law of Biotechnology (26,270), sanctioned 10 years ago, which covers accelerated amortization in the Income Tax and the return VAT on the acquisition of capital goods. With the support of public policies aimed at strengthening foreign trade, firms are committed to diversifying markets and increasing their exports. The State will improve the processes of public registration so that they are more agile and favor innovation, which is a central aspect for the competitiveness of the sector. This implies a structural revision of each registry with a focus on biotechnological products, and the joint work of ANMAT, the Ministries of Health and Agroindustry, and CONABIA.

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