Argentina Offers Projects To 18 Direct Investment Funds

Argentina's President Alberto Fernandez on Tuesday led a videoconference with 18 international investment funds to present his country's business opportunities. 

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He spoke with representatives of investment funds from countries such as Russia, United Arab Emirates, Saudi Arabia, the U.S., China, Japan, and Bahrain. 

Besides recalling that Argentine legislation provides "national treatment" to foreign investors, Fernandez presented details about the Vaca Muerta project, which will take place in the world's second-largest shale gas reserve.

"Argentina has an endless capacity to increase its production and development, and the only thing it needs is capital to mobilize it," he said. 

Vaca Muerta is a sedimentary formation with high organic content deposited in the Neuquen Basin. It covers 30,000 square kilometers where it is feasible to develop shale gas and shale oil extraction techniques

Economy Minister Martin Guzman assured his country is "the fastest recovering economy in the continent" after three years of recession. He also forecasts a 7 percent growth of the gross domestic product (GDP) by 2021. 

"We are very interested in developing our partnership with Argentina... Our 15 partners have expressed interest in using their potential and experience for joint projects," Russia's Direct Investment Fund chairman Kirill Dmitriev said.