MercoPress. South Atlantic News Agency
Argentina’s policy on foreign investments keeping businesses away
Concern over Argentina's erratic policy on foreign investments is pushing regional business entrepreneurs toward caution and or keeping them away from South America’s second largest economy. Argentina nationalized Spanish oil major Repsol's majority stake in local energy giant YPF last year, a move that triggered alarm in the international investor community. Read full article
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Disclaimer & comment rulesWhat a surprise!
Jun 03rd, 2013 - 06:20 am - Link - Report abuse 0So much for the 'demand' that oil production increase.
“In recent weeks media speculation over Petrobras intentions regarding the company's assets in Argentina sparked renewed recrimination between President Cristina Fernandez and the opposition. The argument arose over reports that members of the president's family were involved in a secret plan to acquire the Brazilian assets.”
Jun 03rd, 2013 - 06:57 am - Link - Report abuse 0OMG,
It's not enough that companies are reluctant to invest in industries in Argentina, due to Government shakedowns and seizures of assets.
Now, as the oil companies are making a bolt for the door, not only is Argentina losing production, but CFK is doing her best to gain personally.
I should not be surprised. *rolls eyes, looks heavenward*
“... alarm in the international investor community...”
Jun 03rd, 2013 - 07:16 am - Link - Report abuse 0who the hell would be happy to deal with crooks and thiefs? maybe other crooks.
but there aren´t so many crooks in the normal business world to satisfy ck´s and her gang´s hunger of other people´s property and money.
and those who are already there and forced to continue their work are very cautious before they expand their investments, hoping that the arg state once will return to normal business rules und another government.
And in related news, the sky is blue!
Jun 03rd, 2013 - 08:51 am - Link - Report abuse 0I don't understand this thought of “an erratic policy on foreign investment”. I thought it was quite clear. In its short form it's “Gimme, gimme, gimme”. In its long form it's “We want you to come to our country to set up a business using your expertise and your financial resources but argie ”labour“. Then, when everything is working well, we'll insist that you ”invest“ in our country so that you don't make the profit that you need to repay the people who invested in you. And if you don't comply, we'll take your business away from you”. What could be clearer than that?
Jun 03rd, 2013 - 10:41 am - Link - Report abuse 0@5
Jun 03rd, 2013 - 11:28 am - Link - Report abuse 0Should you not have added 'without compensation' to your comment “we'll take your business away from you”. We would not want any potential investor(s) to get the 'wrong' idea would we?
@6
Jun 03rd, 2013 - 02:39 pm - Link - Report abuse 0Furthermore, once we have confiscated your assets without the remotest chance of compensation, we will sue you for all the excessive salaries that you paid to the directors!!!
@6 No, I can't be sure yet. For instance, Repsol has a US$10 billion claim against argieland. Unconstitutionally, and therefore illegally, argieland stole Repsol's YPF possession. It's possible that argieland may eventually pay up. Although its track record says it won't. More than US$100 billion in debts, much more, and argieland is still twisting and squirming as it tries to evade what it owes. Potential investors need to approach the situation pragmatically. Governments need to be onside. Then, when argieland inevitably screws up, the government can, quite acceptably and legally, go to war. You can look it up. Going to war over unpaid debts is still legal. A fact that argieland might want to contemplate. As an air force missiles and/or bombs BsAs, as a navy missiles or shells anything within 1,000 miles, the answer is UNPAID DEBTS. As an armoured division with 400 main battle tanks, supported by medium and light tanks, armoured personnel carriers and the like comes ashore, together with state of the art multirole combat aircraft, attack helicopters and mobile artillery, paying up might seem preferable.
Jun 03rd, 2013 - 02:58 pm - Link - Report abuse 0But Cristina is still loading her pockets.
Jun 03rd, 2013 - 03:28 pm - Link - Report abuse 0http://www.bloomberg.com/news/2013-06-03/hidden-vault-plans-trip-ferandez-as-argentina-s-economy-hobbles.html
Bob that link is flawed:
Jun 04th, 2013 - 12:01 am - Link - Report abuse 0http://search1.bloomberg.com/search/?content_type=all&page=1&q=hidden%20vaults
Maybe it is time fir the UN to have some rule to protect citizens of a country from such blatant and brazen thievery. Millions in Argentina are duped and paying in poverty from her piracy.
How can Petrobras sell some of it's assets in Argentina?
Jun 04th, 2013 - 12:57 am - Link - Report abuse 0Who will buy them? It would be risky, wouldn't it?
Not even the Chinese will buy that. They are not looking for money making opportunities, they want natural resources, ore, copper, petroleum. Argentina has become a cancer and unless their neighbors don't take them to task, they will bring the entire continent down. Even Brazil that has become industrialized is reverting back to farming, which kills Argentina even more. It's one thing for a society to choice to be socialist, it's another for their leaders to exploit that for their own gain and their cronies. Christina Kirchner and her drug induced nits called her family should all be hung, gutted and quartered. And take a que from the Brits........put their heads on a pole for a few weeks at the Plaza
Jun 04th, 2013 - 01:57 am - Link - Report abuse 0Maybe the only ones that can buy those Petrobras assets are Kirchner cronies.
Jun 04th, 2013 - 02:59 am - Link - Report abuse 0They can't confiscate their own investments, right?
What a sorry situation it is when you scare investors away. Very sorry.....
Jun 04th, 2013 - 03:18 am - Link - Report abuse 0#13 they may very well be the only ones in Argentina with funds to afford to buy it.
Jun 04th, 2013 - 09:20 am - Link - Report abuse 0#14 Exactly....they are not that afraid to invest in Venezuela, that says a lot.
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