June 13, 2024

Argentine Entrepreneurs Optimistic about Economic Reforms: Knowledge Economy Sector Poised for Export Growth and Increased Employment

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Anticipated economic reforms by Milei set to boost Argentine knowledge economy

Argentine entrepreneurs are feeling positive about the economic reforms implemented by President Javier Milei’s administration. They believe that these changes will lead to increased employment opportunities and boost exports in the knowledge economy sector. A recent study conducted by Argencon, a business organization, revealed that 80% of the companies surveyed anticipate a growth in exports due to the government’s liberalization policies.

The study included 28 companies in the knowledge economy, with half of the respondents expecting export growth to exceed 10%. The majority of companies represented in the study were from the information technology sector, professional services, marketing, bioscience, bioeconomy, and other areas. Data from the first half of 2023 showed that knowledge-based services exports had reached $8.06 billion, representing an annual increase of 8.8%.

Furthermore, the survey results showed that 70% of respondents anticipate an increase in employment, with more than half projecting growth of over 10%. Professional services companies are particularly optimistic, with 33% expecting growth of more than 20%. However, access to foreign currency and the absence of exchange rate unification were highlighted as major challenges by the respondents.

Argencon’s president, Sebastián Mocorrea, stated that eliminating foreign exchange restrictions and simplifying regulations will enhance the international competitiveness of the knowledge economy sector in Argentina. This will lead to significant increases in employment and exports. Other obstacles identified by entrepreneurs include regulatory complexity, issues related to digital talent and English skills

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