Photo with Milei, but to invest in Uruguay | Biotech firm Stamm puts $30 million into a plant across the pond

Photo with Milei, but to invest in Uruguay | Biotech firm Stamm puts $30 million into a plant across the pond
Photo with Milei, but to invest in Uruguay | Biotech firm Stamm puts $30 million into a plant across the pond

A few days ago, President Javier Milei asked his most loyal businessmen, at the Llao Llao Forum, to take the risk and invest. They didn’t listen to him: a company aligned with the Government and whose CEO was photographed with the president at that eventconfirmed that it will make its largest investment in Uruguay.

As he knew Page I12at a meeting of private and biotechnology companies that took place last week at the Federal Investment Council (CFI), Federico D’Alvia Vegh – who with his cousin Yuyo Llamazares Vegh founded years ago Stamm Biotech– He said that the firm plans to invest 30 million dollars in Uruguay. The objective is to build a plant for biotechnological products. Although it is true that Stamm invests in Argentina, his first million-dollar investment in dollars is outside Argentina. “I love my country, but there are still many regulations,” he commented to those present, with many surprised by the gesture.

The Stamm Biotech company It is part of the Endeavor chamber, which was created by unicorns like Marcos Galperín, from Mercado Libre, and the owners of the software firm Globant, among them Martín Migoya. That entity became closely associated with the Milei Government due to the open militancy of its founders for the political lines of Libertad Avanza.

After having been created in 2016, Stamm joined Endeavor in 2023 as the entrepreneur with the greatest perspective. “The company created in 2016 works to transform biomanufacturing into an efficient, scalable and repeatable process, revolutionizing the way we produce cells and microorganisms. Stämm is reinventing the way in which bioprocesses are carried out, imitating nature, reducing the installed volume required for the same performance of the final product by 300 times,” they describe on the website of Endeavor. The chamber brings together, more than anything, unicorns and technology companies, which decided to align first with Macri and now with the Milei Government.

In the Llao Llao

When Milei was participating as a central figure in the Llao Llao Forum, one of the owners of Stamm was part of the team of like-minded businessmen who accompanied the president from the first places in the auditorium.

At that moment, after Milei’s talk, the Government itself released a photo with all the ceos who were willing to take a “family” style postcard with the president. In that platoon there were many greats, like Migoya and Guibert Englebienne, from Globant; and Eduardo Bastitta Harriet, from Plaza Lógistica. And the senior staff of IRSA, the multi-service firm of Eduardo Elsztain, one of the creators of the Llao Llao Forum and one of the businessmen closest to Milei. In that photo you can also see D’Alvia, one of the owners of Stamm Biotech and who participated in the CFI meeting.

“Guys, at some point you are going to have to put your balls together, you are going to have to invest and you are going to have to play”, was the phrase with which Milei told his CEOs, in Llao Llao, to bank it by burying dollars in the country. That statement was made when the Government sees that it has business support from an ideological point of view, but not yet in what has to do with business commitments.

To tell the truth, the non-investment of the CEOs does not seem to be the exclusive property of those close to the president. The latest report from the Orlando Ferreres consulting firm on gross investment showed that, in March, the item fell 22.3 percent and that it has accumulated a drop in every month since Milei has been president. In that same report it was specified that, in the future, there is no change in trend, because there is no evidence of a recovery in demand or consumption. In addition, they clarified that “such a contraction was only recorded by this indicator in the period 2001-2002, and during the quarantine months of 2020. In accumulated terms, the decline in the sector is 24.0% for the first quarter.”

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