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Two electronic companies increase investments in Tierra del Fuego

Sunday, January 8th 2012 - 05:20 UTC
Full article 13 comments



Acting president Boudou (R) and Minister Giogi


Acting president Boudou (R) and Minister Giogi

Two companies involved in electronics announced investments of 450 million Argentine Pesos (over 100 million dollars) in Tierra del Fuego for the production of electrical appliances.

The announcement was made official following the meeting of top officials from NewSan and Brightstar with Argentine acting President Amador Boudou and Industry Minister Debora Giorgi in Government House ( Casa Rosada).

 NewSan will invest 383 million pesos (approx 90 million dollars) to fit out its five factories and to build a logistics centre as well as a factory in the province of Buenos Airres. It will also build three schools in Tierra del Fuego in exchange for receiving the former Aurora company factory.
 

Brightstar, meanwhile, will invest 15.6 million Pesos and will thus reach the production rate of 7.6 million mobile phones.
 

“In the last eight years there has been a change in paradigm in Argentina and the political project headed by Cristina Fernández considers what all the country needs to keep on growing and create more and more jobs” said Boudou who is replacing Cristina Fernandez for three weeks following thyroid surgery.
 

“The keys of economic development in the next few years will be consumption and investment”, Boudou added, and stressed the necessity “of moving forward with imports substitution to create more jobs.”
 

Minister Giorgi highlighted the “strong development of Tierra del Fuego as a technological pole, where electronic appliances with the highest standards of quality are built and where leading brands are investing.”
 

“Our domestic market, preserved from unfair competition, makes companies invest and increase their production, because they know the will sell everything they manufacture in Argentina,” Giorgi unederlined.
 

 

Acting president Boudou, Minister Giogid with representatives from the investors
 

Top Comments

Disclaimer & comment rules
  • geo

    BUT
    the electronic sectors can not able to produce meaningful employment increasings.

    Jan 08th, 2012 - 11:57 am 0
  • ChrisR

    More importantly for the companies, will their money ever get out of the country?

    NO CHANCE uless it's in CFKs suitcase, or Fat Boys or Thin Girls, etc.

    Jan 08th, 2012 - 07:12 pm 0
  • O gara

    I dont think.there would be any investment if they had worries like this.However despite being a fan of Cristinas overall policies these TDF factories are overprotected.The duties on the goods they produce should be progressively and transparently cut year by year to give them time to compete or else

    Jan 09th, 2012 - 12:14 am 0
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