Macri Gives Himself Credit for Investment Agreed on Under Previous Gov't

The Argentinian Presidency announced Saturday a multimillion foreign investment in the country after President Mauricio Macri’s recent trip to Davos, Switzerland, where he attended the World Economic Forum. However, the deal was sealed a few months before under the previous government.

Macri met Carlos Ghosn, CEO of Renault-Nissan, in Davos, where Ghosn promised (again) a US$600 million investment into the company’s factory located in Santa Isabel, Cordoba.

“Ghosn committed to invest US$600 million in the factory of Santa Isabel in Cordoba,” said the presidential communique. “The idea is to build three models of pickups for the local and regional market. The first models should be released by the end of 2018.”

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However the investment was announced April 7, 2015, after a meeting between the Argentinian CEO of Renault, Thierry Koskas, and the Nissan President for Latin America Jose Luis Valls. The meeting was also attended via teleconference by Ghosn and the then industry minister, Debora Giorgi.

“The old and dear factory of Santa Isabel will turn into one of the most modern factory in the whole world,” said Cristina Fernandez after the meeting.

Renault owns a 400,000-square-meter factory in Santa Isabel, employing over 2,000 workers. In 2014, about 44 percent of its products were exported to Brazil.

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