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Argentina's lower house has given preliminary approval to President Javier Milei's 'Súper RIGI' investment incentive bill, a key piece of the administration's strategy to attract large-scale investment in emerging high-technology industries. The initiative passed with 130 votes in favour, 106 against, and seven abstentions after several hours of debate, and now moves to the Senate.
The bill, formally the Régimen de Incentivo para Grandes Inversiones en Nuevas Industrias (Incentive Scheme for Major Investments in New Industries), aims to encourage billion-dollar investments in frontier technologies, according to the Buenos Aires Times.
Coverage comparison
The Buenos Aires Times reported the lower house vote and the details of the bill in one article, and in a separate article contextualised the initiative within the government's broader legislative agenda, noting that the administration aims to pass a series of measures before the mid-year recess.
Key claims
The 'Súper RIGI' scheme targets industries including critical minerals processing, biotechnology, battery manufacturing, renewable energy technologies such as green hydrogen, electric vehicles, wind turbines, and solar panels, as well as small and medium-sized nuclear reactors, semi-conductors, and artificial intelligence.
To qualify, projects must involve a minimum investment of US$1 billion—a significant increase from the US$200 million threshold required under the original RIGI framework created in 2024. Participating projects would be granted fiscal, customs, and foreign exchange stability for a period of 30 years.
The scheme itself will remain open for five years, with the possibility of a further extension. By comparison, the original RIGI operated for two years and was later extended for an additional year. The Súper RIGI is more narrowly focused than its predecessor, excluding natural resource and infrastructure projects, as well as expansions of existing ventures.
The Buenos Aires Times reports that the administration views the bill as a strategic measure designed to consolidate its programme. The bill forms part of a legislative road map that combines initiatives driven directly by the Casa Rosada. Among the other measures the government wants to pass before the mid-year recess are a settlement of outstanding debt with holdout credits, the regulation-slashing 'Ley Hojarasca' bill, and changes relating to private property rights.
The government's agenda for the second half of the year includes a sweeping electoral reform bill, a new mental health law, and changes to disability policy, university education, and economic regulation.
One notable aspect reported is that the Súper RIGI is viewed as one of the administration's key tools for attracting investment, and the bill's passage in the lower house is a preliminary step, with Senate consideration still pending.