Before the block closures of the debate on the Bases law began, the provisional president of the Senate and head of the upper house, Bartolome Abdalaannounced more changes for the vote in particular of the Incentive Regime for Large Investments (RIGI), to protect the articles and avoid defeats.
The first modification points to article 165: it will no longer be for “any sector”, but for “forest industry, infrastructure, mining, energy and technology” that meet the expected requirements.
Meanwhile, there will be an extra nod to local suppliers, since the commitment in this case will be “at least 20% of the entire investment amount, as long as “the offer is available and under market conditions in terms of price and quality.” Said minimum percentage must be maintained during the construction and operation stages.
Another important tweak will be in article 196 – exchange incentives –, limits the settlement obligation in the exchange market the foreign exchange that comes in from exports of products generated by the projects. It will be 20% after two years of starting the investment; 40%, after three years; and 100%, from four years old.
News in development
