text:
HomeReportsInvestment Climate Statements...Custom Report - 198ff97e77
Argentina presents investment and trade opportunities, particularly in infrastructure, health, agriculture, information technology, energy, and mining; however, soaring debt and a failure to implement critical structural reforms have prevented the country from maximizing its economic potential, though the country has taken steps to diminish bureaucratic procedures. Market reactions to the 2019 Argentine presidential elections deepened the country's economic crisis, stalling reform efforts and leading to a rollback of some market-driven growth policies and the imposition of capital and export controls. In late 2019, the government reprofiled some of the country's local law debt payments. Argentina's economy contracted for the second year in a row in 2019, as unemployment and poverty grew and annual inflation rose to 53.8 percent.
Following a victory in the October 2019 general election, President Alberto Fernandez took office on December 10, 2019. His economic agenda at the beginning of 2020 focused on restructuring the country's sovereign debt and providing support to vulnerable sectors. The Fernandez administration increased taxes on foreign trade, further tightened capital controls, and pulled back from former President Mauricio Macri's fiscal austerity measures, expanding fiscal expenditures. Citing a need to preserve Argentina's diminishing foreign exchange reserves and raise government revenues for social programs, the Fernandez administration passed a sweeping "economic emergency" law that included a 30 percent tax on purchases of foreign currency and all individual expenses incurred abroad, whether in person or online.
The country began a nationwide quarantine on March 20 to combat the COVID-19 pandemic, shortly after the first case was confirmed on March 3. As of early May, the government anticipated a 6.5 percent drop in real Gross Domestic Product (GDP) growth for 2020, though the full economic impact will largely depend on how long quarantine restrictions last and whether the government reaches agreement with its private bondholders to avoid a sovereign default. The Argentine government issued a series of economic relief measures to mitigate the economic impact of the quarantine, primarily focusing on informal workers that account for approximately 40 percent of the labor force. The government's self-declared insolvency has sharply limited its access to credit, obligating it to finance the pandemic-related stimulus measures by monetary issuance, which may hamper its efforts to restrain inflation and maintain a stable exchange rate. As a result of the crisis, industry and unions are analyzing changes to labor agreements and requesting government tax reforms. U.S. companies frequently point to a high and unpredictable tax burden and rigid labor laws, which make responding to changing macroeconomic conditions more difficult, as obstacles to further investment in Argentina. In April, the government reprofiled foreign currency local law debt. In early May, the Minister of Economy announced the government has sought to restructure its debt to private creditors by May 22 and to reschedule its Paris Club debt. The Minister also stated the government intends to seek a new program with the International Monetary Fund (IMF), to which it owes $44 billion from a Standby arrangement the government signed in 2018.
In 2019, Argentina fell two places in the Competitiveness Ranking of the World Economic Forum (WEF), which measures how productively a country uses its available resources, to 83 out of 141 countries, and 12 out of the 20 countries in the Latin American and Caribbean region. As a MERCOSUR member, Argentina signed a free trade and investment agreement with the EU in June 2019. Argentina has not ratified the agreement yet. In May, Argentina proposed slowing the pace and adjusting the negotiating parameters of MERCOSUR's ongoing trade liberalization talks with South Korea, Canada, and other partners to help protect vulnerable populations and account for the impact of the ongoing COVID-19 pandemic. Argentina ratified the WTO Trade Facilitation Agreement on January 22, 2018. Argentina and the United States continue to expand bilateral commercial and economic cooperation, specifically through the Trade and Investment Framework Agreement (TIFA), the Commercial Dialogue, and under the Growth in the Americas initiative, in order to improve and facilitate public-private ties and communication on trade, investment, energy, and infrastructure issues, including market access and intellectual property rights. More than 300 U.S. companies operate in Argentina, and the United States continues to be the top investor in Argentina with more than USD $15 billion (stock) of foreign direct investment as of 2018.
U.S. FDI in partner country ($M USD, historical stock positions) 2018 15,196 https://www.bea.gov/data/
economic-accounts/international/
World Bank GNI per capita 2018 12,390 http://data.worldbank.org/
The Government of Argentina has identified its top economic priorities as resolving its burdensome sovereign debt situation and responding to the COVID-19 pandemic, particularly by protecting vulnerable members of society. When the Fernandez administration took office in late 2019, the Ministry of Foreign Affairs, International Trade, and Worship became the lead governmental entity for investment promotion. The Fernandez administration does not have a formal business roundtable or other dialogue established with international investors, although it does engage with domestic and international companies.
Some of the former Macri administration's efforts to improve the investment climate had included reforms to simplify bureaucratic procedures in an effort to provide more transparency, reduce costs, and diminish economic distortions by adopting good regulatory practices. Many of the planned public-private partnership projects for public infrastructure were delayed or canceled due to Argentina's macroeconomic difficulties, as well as allegations of corruption in public works projects during the 2003-2015 period. The Macri administration also had expanded economic and commercial cooperation with key partners, including Chile, Brazil, Japan, South Korea, Spain, Canada, and the United States, and deepened its engagement in international fora such as the G-20, the WTO, and the OECD.
Foreign and domestic investors generally compete under the same conditions in Argentina. The amount of foreign investment is restricted in specific, sectors such as aviation and media. Foreign ownership of rural productive lands, bodies of water, and areas along borders is also restricted.
Argentina has a national Investment and Trade Promotion Agency that provides information and consultation services to investors and traders on economic and financial conditions, investment opportunities, and Argentine laws and regulations. The agency also provides matchmaking services and organizes roadshows and trade delegations. Upon the change of administration, the government placed the Agency under the direction of the Ministry of Foreign Affairs (MFA) to improve coordination between the Agency and Argentina´s foreign policy. The Under Secretary for Trade and Investment Promotion of the MFA works as a liaison between the Agency and provincial governments and regional organizations. The new administration also created the National Directorate for Investment Promotion under the Under Secretary for Trade and Investment Promotion, making the Directorate responsible for promoting Argentina as an investment destination. The Directorate´s mission also includes determining priority sectors and projects and helping Argentine companies expand internationally and/or attract international investment.
The agency's web portal provides information on available services (https://www.inversionycomercio.org.ar/es/home ) Many of the 24 provinces also have their own provincial investment and trade promotion offices.
Foreign and domestic commercial entities in Argentina are regulated by the Commercial Partnerships Law (Law 19,550), the Argentina Civil and Commercial Code, and rules issued by the regulatory agencies. Foreign private entities can establish and own business enterprises and engage in all forms of remunerative activity in nearly all sectors.
Full foreign equity ownership of Argentine businesses is not restricted, for the most part, with exception in the air transportation and media industries. The share of foreign capital in companies that provide commercial passenger transportation within the Argentine territory is limited to 49 percent per the Aeronautic Code Law 17,285. The company must be incorporated according to Argentine law and domiciled in Buenos Aires. In the media sector, Law 25,750 establishes a limit on foreign ownership in television, radio, newspapers, journals, magazines, and publishing companies to 30 percent.
Law 26,737 (Regime for Protection of National Domain over Ownership, Possession or Tenure of Rural Land) establishes that a foreigner cannot own land that allows for the extension of existing bodies of water or that are located near a Border Security Zone. In February 2012, the government issued Decree 274/2012 further restricting foreign ownership to a maximum of 30 percent of national land and 15 percent of productive land. Foreign individuals or foreign company ownership is limited to 1,000 hectares (2,470 acres) in the most productive farming areas. In June 2016, the Government of Argentina issued Decree 820 easing the requirements for foreign land ownership by changing the percentage that defines foreign ownership of a person or company, raising it from 25 percent to 51 percent of the social capital of a legal entity. Waivers are not available.
Argentina does not maintain an investment screening mechanism for inbound foreign investment. U.S. investors are not at a disadvantage to other foreign investors or singled out for discriminatory treatment.
Argentina was last subject to an investment policy review by the OECD in 1997 and a trade policy review by the WTO in 2013. The United Nations Conference on Trade and Development (UNCTAD) has not done an investment policy review of Argentina.
In 2019, stemming from the country's deteriorating financial and economic situation, the Argentine government re-imposed capital controls on business and consumers, limiting their access to foreign exchange. The capital controls and increases in taxes on exports and imports the Argentine government instituted at the end of 2019 have generated uncertainty in the business climate.
The Ministry of Production eased bureaucratic hurdles for foreign trade through the creation of a Single Window for Foreign Trade ("VUCE" for its Spanish acronym) in 2016. The VUCE centralizes the administration of all required paperwork for the import, export, and transit of goods (e.g., certificates, permits, licenses, and other authorizations and documents). The Argentine government has not fully implemented the VUCE for use across the country. Argentina subjects imports to automatic or non-automatic licenses that are managed through the Comprehensive Import Monitoring System (SIMI, or Sistema Integral de Monitoreo de Importaciones), established in December 2015 by the National Tax Agency (AFIP by its Spanish acronym) through Resolutions 5/2015 and 3823/2015. The SIMI system requires importers to submit detailed information electronically about goods to be imported into Argentina. Once the information is submitted, the relevant Argentine government agencies can review the application through the VUCE and make any observations or request additional information. The list of products subject to non-automatic licensing has been modified several times since the beginning of the SIMI system. In January 2020, the government moved 300 tariff lines from the automatic import licensing system to the non-automatic import licensing system.
The Argentine Congress approved an Entrepreneurs' Law in March 2017, which allows for the creation of a simplified joint-stock company (SAS, or Sociedad por Acciones Simplifacada) online within 24 hours of registration. Detailed information on how to register a SAS is available at: https://www.argentina.gob.ar/produccion/crear-una-empresaAs of April 2019, the online business registration process is only available for companies located in Buenos Aires.
Foreign investors seeking to set up business operations in Argentina follow the same procedures as domestic entities without prior approval and under the same conditions as local investors. To open a local branch of a foreign company in Argentina, the parent company must be legally registered in Argentina. Argentine law requires at least two equity holders, with the minority equity holder maintaining at least a five percent interest. In addition to the procedures required of a domestic company, a foreign company establishing itself in Argentina must legalize the parent company's documents, register the incoming foreign capital with the Argentine Central Bank, and obtain a trading license.
A company must register its name with the Office of Corporations (IGJ, or Inspeccion General de Justicia). The IGJ website describes the registration process and some portions can be completed online (https://www.argentina.gob.ar/justicia/igj/guia-de-tramites ). Once the IGJ registers the company, the company must request that the College of Public Notaries submit the company's accounting books to be certified with the IGJ. The company's legal representative must obtain a tax identification number from AFIP, register for social security, and obtain blank receipts from another agency. Companies can register with AFIP online at www.afip.gob.ar or by submitting the sworn affidavit form No. 885 to AFIP.
Details on how to register a company can be found at the Ministry of Productive Development's website: https://www.argentina.gob.ar/produccion/crear-una-empresa . Instructions on how to obtain a tax identification code can be found at: https://www.argentina.gob.ar/obtener-el-cuit-por-internet.
The enterprise must also provide workers' compensation insurance for its employees through the Workers' Compensation Agency (ART, or Aseguradora de Riesgos del Trabajo). The company must register and certify its accounting of wages and salaries with the Secretariat of Labor, within the Ministry of Labor, Employment, and Social Security.
In April 2016, the Small Business Administration of the United States and the Ministry of Production of Argentina signed a Memorandum of Understanding (MOU) to set up small and medium sized business development centers (SBDCs) in Argentina. Under the MOU, in June 2017, Argentina set up a SBDC in the province of Neuqueén to provide small businesses with tools to improve their productivity and increase their growth.
The Ministry of Productive Development offers attendance-based courses and online training for businesses. The training menu can be viewed at: https://www.argentina.gob.ar/produccion/capacitacion .
The National Directorate for Investment Promotion under the Under Secretary for Trade and Investment Promotion at the MFA assists Argentine companies in expanding their business overseas, in coordination with the National Investment and Trade Promotion Agency. Argentina does not have any restrictions regarding domestic entities investing overseas, nor does it incentivize outward investment.
The Secretary of Strategic Affairs under the Cabinet is in charge of transparency policies and the digitalization of bureaucratic processes as of December 2019.
Argentine government authorities and a number of quasi-independent regulatory entities can issue regulations and norms within their mandates. There are no informal regulatory processes managed by non-governmental organizations or private sector associations. Rulemaking has traditionally been a top-down process in Argentina, unlike in the United States where industry organizations often lead in the development of standards and technical regulations. The Constitution establishes a procedure that allows for citizens to draft or propose legislation, which is subject to Congressional and Executive approval before being passed into law.
Ministries, regulatory agencies, and Congress are not obligated to provide a list of anticipated regulatory changes or proposals, share draft regulations with the public, or establish a timeline for public comment. They are also not required to conduct impact assessments of the proposed legislation and regulations.
All final texts of laws, regulations, resolutions, dispositions, and administrative decisions must be published in the Official Gazette (https://www.boletinoficial.gob.ar ), as well as in the newspapers and the websites of the Ministries and agencies. These texts can also be accessed through the official website Infoleg (http://www.infoleg.gob.ar/ ), overseen by the Ministry of Justice and Human Rights. Interested stakeholders can pursue judicial review of regulatory decisions.
In September 2016, Argentina enacted a Right to Access Public Information Law (27,275) that mandates all three governmental branches (legislative, judicial, and executive), political parties, universities, and unions that receive public funding are to provide non-classified information at the request of any citizen. The law also created the Agency for the Right to Access Public Information to oversee compliance.
During 2017, the government introduced new procurement standards including electronic procurement, formalization of procedures for costing-out projects, and transparent processes to renegotiate debts to suppliers. The government also introduced OECD recommendations on corporate governance for state-owned enterprises to promote transparency and accountability during the procurement process. (The regulation may be viewed at http://servicios.infoleg.gob.ar/infolegInternet/verNorma.do?id=306769 .)
In April 2018, Argentina passed the Business Criminal Responsibility Law (27,041) through Decree 277. The decree establishes an Anti-Corruption Office in charge of outlining and monitoring the transparency policies with which companies must comply to be eligible for public procurement.
Under the bilateral Commercial Dialogue, Argentina and the United States discuss good regulatory practices, conducting regulatory impact analyses, and improving the incorporation of public consultations in the regulatory process. Similarly, under the bilateral Digital Economy Working Group, Argentina and the United States shared best practices on promoting competition, spectrum management policy, and broadband investment and wireless infrastructure development.
The Argentine government has sought to increase public consultation in the rulemaking process; however, public consultation is non-binding and has been done in an ad-hoc fashion. In 2017, the Government of Argentina issued a series of legal instruments that seek to promote the use of tools to improve the quality of the regulatory framework. Amongst them, Decree 891/2017 for Good Practices in Simplification establishes a series of tools to improve the rulemaking process. The decree introduces tools on ex-ante and ex-post evaluation of regulation, stakeholder engagement, and administrative simplification, amongst others. Nevertheless, no formal oversight mechanism has been established to supervise the use of these tools across the line of ministries and government agencies, which make implementation difficult and severely limit the potential to adopt a whole-of-government approach to regulatory policy, according to a 2019 OECD publication on Regulatory Policy in Argentina.
Some ministries and agencies developed their own processes for public consultation by publishing drafts on their websites, directly distributing the draft to interested stakeholders for feedback, or holding public hearings. In 2016 the Ministry of Justice and Human Rights launched the digital platform Justicia2020 (https://www.justicia2020.gob.ar/ ), to foster public involvement in the Judiciary reform process projected by 2020. Once the draft of a bill is introduced into the Argentine Congress, the full text of the bill and its status can be viewed online at the Chamber of Deputies website (http://www.diputados.gov.ar/ ), and that of the Senate (http://www.senado.gov.ar/ ). The Fernandez government has begun developing its own justice sector reform proposals.
In November 2017, the Government of Argentina launched a new website to communicate how the government spends public funds in a user-friendly format (https://www.argentina.gob.ar/economia/transparencia/presupuesto ). The Argentine government also made an effort to improve citizens' understanding of the budget, through the citizen's budget "Presupuesto Ciudadano" website (https://www.minhacienda.gob.ar/onp/presupuesto_ciudadano/ ). The initiative aligns with the Global Initiative for Fiscal Transparency (GIFT) and UN Resolution 67/218 on promoting transparency, participation, and accountability in fiscal policy.
Argentina requires public companies to adhere to International Financial Reporting Standards (IFRS). Argentina is a member of UNCTAD's international network of transparent investment procedures.
Argentina is a founding member of MERCOSUR and has been a member of the Latin American Integration Association (ALADI for Asociacion Latinoamericana de Integracion) since 1980. Once any of the decision-making bodies within MERCOSUR agrees on applying a certain regulation, each of the member countries has to incorporate it into its legislation according to its own legislative procedures. Once a regulation is incorporated in a MERCOSUR member's legislation, the country has to notify MERCOSUR headquarters.
Argentina has been a member of the WTO since 1995, and it ratified the Trade Facilitation Agreement in January 2018. Argentina notifies technical regulations, but not proposed drafts, to the WTO Committee on Technical Barriers to Trade. Argentina submitted itself to an OECD regulatory policy review in March 2018, which was released in March 2019. The Fernandez administration has not actively pursued OECD accession. Argentina participates in all 23 OECD committees.
Additionally, the Argentine Institute for Standards and Certifications (IRAM) is a member of international and regional standards bodies including the International Standardization Organization (ISO), the International Electrotechnical Commission (IEC), the Panamerican Commission on Technical Standards (COPAM), the MERCOSUR Association of Standardization (AMN), the International Certification Network (i-Qnet), the System of Conformity Assessment for Electrotechnical Equipment and Components (IECEE), and the Global Good Agricultural Practice network (GLOBALG.A.P.).
Argentina follows a Civil Law system. In 2014, the Argentine government passed a new Civil and Commercial Code that has been in effect since August 2015. The Civil and Commercial Code provides regulations for civil and commercial liability, including ownership of real and intangible property claims. The current judicial process is lengthy and suffers from significant backlogs. In the Argentine legal system, appeals may be brought from many rulings of the lower court, including evidentiary decisions, not just final orders, which significantly slows all aspects of the system. The Justice Ministry reported in December 2018 that the expanded use of oral processes had reduced the duration of 68 percent of all civil matters to less than two years.
According to the Argentine constitution, the judiciary is a separate and equal branch of government. In practice, there have been instances of political interference in the judicial process. Companies have complained that courts lack transparency and reliability, and that the Argentine government has used the judicial system to pressure the private sector. Media revelations of judicial impropriety and corruption feed public perception and undermine confidence in the judiciary.
Many foreign investors prefer to rely on private or international arbitration when those options are available. Claims regarding labor practices are processed through a labor court, regulated by Law 18,345 and its subsequent amendments and implementing regulations by Decree 106/98. Contracts often include clauses designating specific judicial or arbitral recourse for dispute settlement.
According to the Foreign Direct Investment Law 21,382 and Decree 1853/93, foreign investors may invest in Argentina without prior governmental approval, under the same conditions as investors domiciled within the country. Foreign investors are free to enter into mergers, acquisitions, greenfield investments, or joint ventures. Foreign firms may also participate in publicly-financed research and development programs on a national treatment basis. Incoming foreign currency must be identified by the participating bank to the Central Bank of Argentina (www.bcra.gob.ar).
All foreign and domestic commercial entities in Argentina are regulated by the Commercial Partnerships Law (Law No. 19,550) and the rules issued by the commercial regulatory agencies. Decree 27/2018 amended Law 19,550 to eliminate regulatory barriers and reduce bureaucratic burdens, expedite and simplify processes in the public domain, and deploy existing technological tools to better focus on transparency. Full text of the decree can be found at (http://servicios.infoleg.gob.ar/infolegInternet/anexos/305000-309999/305736/norma.htm ). All other laws and norms concerning commercial entities are established in the Argentina Civil and Commercial Code, which can be found at: http://servicios.infoleg.gob.ar/infolegInternet/anexos/235000-239999/235975/norma.htm
Further information about Argentina's investment policies can be found at the following websites:
Ministry of Productive Development (https://www.argentina.gob.ar/produccion )
Ministry of Economy (https://www.argentina.gob.ar/economia )
The Central Bank of the Argentine Republic (http://www.bcra.gob.ar/ )
The National Securities Exchange Commission (http://www.cnv.gob.ar// )
The National Investment and Trade Promotion Agency (https://www.inversionycomercio.org.ar/es/home )
Investors can download Argentina's investor guide through this link: (https://drive.google.com/file/d/0B-086VB27JBjN0x0NmM4Y09GODA/view )
The National Commission for the Defense of Competition and the Secretariat of Domestic Trade, both within the Ministry of Productive Development, have enforcement authority of the Competition Law (Law 25,156). The law aims to promote a culture of competition in all sectors of the national economy. In May 2018, the Argentine Congress approved a new Defense of Competition Law (Law 27,442). The new law incorporates anti-competitive conduct regulations and a leniency program to facilitate cartel investigation. The full text of the law can be viewed at: http://servicios.infoleg.gob.ar/infolegInternet/verNorma.do?id=310241 .
In September 2014, Argentina amended the 1974 National Supply Law to expand the ability of the government to regulate private enterprises by setting minimum and maximum prices and profit margins for goods and services at any stage of economic activity. Private companies may be subject to fines and temporary closure if the government determines they are not complying with the law. Although the law is still in effect, the U.S. Government has not received any reports of it being applied since December 2015.
In March 2020, the Government of Argentina enacted the Supermarket Shelves Law (Law 27,545) that states that any single manufacturer and its associated brands cannot occupy more than 30 percent of a retailer's shelf space devoted to any one product category. The law's proponents claim it will allow more space for SME-produced products, encourage competition, and reduce shortages. U.S. companies have expressed doubts about the law and how it will be applied in practice.
Section 17 of the Argentine Constitution affirms the right of private property and states that any expropriation must be authorized by law and compensation must be provided. The United States-Argentina BIT states that investments shall not be expropriated or nationalized except for public purposes upon prompt payment of the fair market value in compensation.
Argentina has a history of expropriations under previous administrations. The most recent expropriation occurred in March 2015 when the Argentine Congress approved the nationalization of the train and railway system. A number of companies that were privatized during the 1990s under the Menem administration were renationalized under the Kirchner administrations. Additionally, in October 2008, Argentina nationalized its private pension funds, which amounted to approximately one-third of total GDP, and transferred the funds to the government social security agency.
In May 2012, the Fernandez de Kirchner administration nationalized oil and gas company Repsol-YPF. Most of the litigation between the Government of Argentina and Repsol was settled in 2016. An American hedge fund still holds a claim against YPF and is in litigation in U.S. courts.
Argentina is signatory to the 1958 New York Convention on the Recognition and Enforcement of Foreign Arbitration Awards, which the country ratified in 1989. Argentina is also a party to the International Center for Settlement of Investment Disputes (ICSID) Convention since 1994.
There is neither specific domestic legislation providing for enforcement under the 1958 New York Convention nor legislation for the enforcement of awards under the ICSID Convention. Companies that seek recourse through Argentine courts may not simultaneously pursue recourse through international arbitration.
The Argentine government officially accepts the principle of international arbitration. The United States-Argentina BIT includes a chapter on Investor-State Dispute Settlement for U.S. investors.
In the past ten years, Argentina has been brought before the ICSID in 54 cases involving U.S. or other foreign investors. Argentina currently has three pending arbitration cases filed against it by U.S. investors. For more information on the cases brought by U.S. claimants against Argentina, go to: https://icsid.worldbank.org/en/Pages/cases/AdvancedSearch.aspx #.
Local courts cannot enforce arbitral awards issued against the government based on the public policy clause. There is no history of extrajudicial action against foreign investors.
Argentina is a member of the United Nations Commission on International Trade Law (UNCITRAL) and the World Bank's Multilateral Investment Guarantee Agency (MIGA).
Argentina is also a party to several bilateral and multilateral treaties and conventions for the enforcement and recognition of foreign judgments, which provide requirements for the enforcement of foreign judgments in Argentina, including:
Treaty of International Procedural Law, approved in the South-American Congress of Private International Law held in Montevideo in 1898, ratified by Argentina by law No. 3,192.
Treaty of International Procedural Law, approved in the South-American Congress of Private International Law held in Montevideo in 1939-1940, ratified by Dec. Ley 7771/56 (1956).
Panama Convention of 1975, CIDIP I: Inter-American Convention on International Commercial Arbitration, adopted within the Private International Law Conferences – Organization of American States, ratified by law No. 24,322 (1995).
Montevideo Convention of 1979, CIDIP II: Inter-American Convention on Extraterritorial Validity of Foreign Judgments and Arbitral Awards, adopted within the Private International Law Conferences – Organization of American States, ratified by law No. 22,921 (1983).
Alternative dispute resolution (ADR) mechanisms can be stipulated in contracts. Argentina also has ADR mechanisms available such as the Center for Mediation and Arbitrage (CEMARC) of the Argentine Chamber of Trade. More information can be found at: http://www.intracen.org/Centro-de-Mediacion-y-Arbitraje-Comercial-de-la-Camara-Argentina-de-Comercio—CEMARC–/#sthash.RagZdv0l.dpuf .
Argentina does not have a specific law governing arbitration, but it has adopted a mediation law (Law 24.573/1995), which makes mediation mandatory prior to litigation. Some arbitration provisions are scattered throughout the Civil Code, the National Code of Civil and Commercial Procedure, the Commercial Code, and three other laws. The following methods of concluding an arbitration agreement are non-binding under Argentine law: electronic communication, fax, oral agreement, and conduct on the part of one party. Generally, all commercial matters are subject to arbitration. There are no legal restrictions on the identity and professional qualifications of arbitrators. Parties must be represented in arbitration proceedings in Argentina by attorneys who are licensed to practice locally. The grounds for annulment of arbitration awards are limited to substantial procedural violations, an ultra petita award (award outside the scope of the arbitration agreement), an award rendered after the agreed-upon time limit, and a public order violation that is not yet settled by jurisprudence when related to the merits of the award. On average, it takes around 21 weeks to enforce an arbitration award rendered in Argentina, from filing an application to a writ of execution attaching assets (assuming there is no appeal). It takes roughly 18 weeks to enforce a foreign award. The requirements for the enforcement of foreign judgments are set out in section 517 of the National Procedural Code.
No information is available as to whether the domestic courts frequently rule in cases in favor of state-owned enterprises (SOE) when SOEs are party to a dispute.
Argentina's bankruptcy law was codified in 1995 in Law 24,522. The full text can be found at: http://www.infoleg.gov.ar/infolegInternet/anexos/25000-29999/25379/texact.htm . Under the law, debtors are generally able to begin insolvency proceedings when they are no longer able to pay their debts as they mature. Debtors may file for both liquidation and reorganization. Creditors may file for insolvency of the debtor for liquidation only. The insolvency framework does not require approval by the creditors for the selection or appointment of the insolvency representative or for the sale of substantial assets of the debtor. The insolvency framework does not provide rights to the creditor to request information from the insolvency representative but the creditor has the right to object to decisions by the debtor to accept or reject creditors' claims. Bankruptcy is not criminalized; however, convictions for fraudulent bankruptcy can carry two to six years of prison time.
Financial institutions regulated by the Central Bank of Argentina (BCRA) publish monthly outstanding credit balances of their debtors; the BCRA National Center of Debtors (Central de Deudores) compiles and publishes this information. The database is available for use of financial institutions that comply with legal requirements concerning protection of personal data. The credit monitoring system only includes negative information, and the information remains on file through the person's life. At least one local NGO that makes microcredit loans is working to make the payment history of these loans publicly accessible for the purpose of demonstrating credit history, including positive information, for those without access to bank accounts and who are outside of the Central Bank's system. Equifax, which operates under the local name "Veraz" (or "truthfully"), also provides credit information to financial institutions and other clients, such as telecommunications service providers and other retailers that operate monthly billing or credit/layaway programs.
The World Bank's 2019 Doing Business Report ranked Argentina 111 among 190 countries for the effectiveness of its insolvency law. This is a drop of 10 places from its ranking of 101 in 2018. The report notes that it takes an average of 2.4 years and 16.5 percent of the estate to resolve bankruptcy in Argentina.
Government incentives do not make any distinction between foreign and domestic investors.
The Argentine government offers a number of investment prom otion programs at the federal, provincial, and municipal levels to attract investment to specific economic sectors such as capital assets and infrastructure, innovation and technological development, and energy, with no discrimination between national or foreign-owned enterprises. Some of the investment promotion programs require investments within a specific region or locality, industry, or economic activity. Some programs offer refunds on Value-Added Tax (VAT) or other tax incentives for local production of capital goods. The Investment and International Trade Promotion Agency provides cost-free assessment and information to investors to facilitate operations in the country. Argentina's investment promotion programs and regimes can be found at: https://www.inversionycomercio.org.ar/es/inversores http://www.inversionycomercio.org.ar/uploads/banco/archivos/1566396570-Agosto_2019-(VF).pdf , and https://www.argentina.gob.ar/produccion .
The National Fund for the Development of Micro, Small, and Medium Enterprises provides low cost credit to small and medium-sized enterprises for investment projects, labor, capital, and energy efficiency improvement with no distinction between national or foreign-owned enterprises. More information can be found at https://www.argentina.gob.ar/produccion/financiamiento
Due to the Covid-19 pandemic, the Ministry of Productive Development launched several financial assistance programs for small and medium-sized enterprises (SMEs) affected by the pandemic.
More information can be found at: https://www.argentina.gob.ar/produccion/medidas-pymes-covid .
The Ministry of Productive Development supports employment training programs that are frequently free to the participants and do not differentiate based on nationality.
Argentina has two types of tax-exempt trading areas: Free Trade Zones (FTZ), which are located throughout the country, and the more comprehensive Special Customs Area (SCA), which covers all of Tierra del Fuego Province and is scheduled to expire at the end of 2023.
Argentine law defines an FTZ as a territory outside the "general customs area" (GCA, i.e., the rest of Argentina) where neither the inflows nor outflows of exported final merchandise are subject to tariffs, non-tariff barriers, or other taxes on goods. Goods produced within a FTZ generally cannot be shipped to the GCA unless they are capital goods not produced in the rest of the country. The labor, sanitary, ecological, safety, criminal, and financial regulations within FTZs are the same as those that prevail in the GCA. Foreign firms receive national treatment in FTZs.
Merchandise shipped from the GCA to a FTZ may receive export incentive benefits, if applicable, only after the goods are exported from the FTZ to a third country destination. Merchandise shipped from the GCA to a FTZ and later exported to another country is not exempt from export taxes. Any value added in an FTZ or re-export from an FTZ is exempt from export taxes. For more information on FTZ in Argentina see: http://www.afip.gob.ar/zonasFrancas/ .
Products manufactured in the SCA may enter the GCA free from taxes or tariffs. In addition, the government may enact special regulations that exempt products shipped through the SCA (but not manufactured therein) from all forms of taxation except excise taxes. The SCA program provides benefits for established companies that meet specific production and employment objectives.
The Argentine national government does not have local employment mandates nor does it apply such schemes to senior management or boards of directors. However, certain provincial governments do require employers to hire a certain percentage of their workforce from provincial residents. There are no excessively onerous visa, residence, work permit, or similar requirements inhibiting mobility of foreign investors and their employees. Under Argentine Law, conditions to invest are equal for national and foreign investors. As of March 2018, citizens of MERCOSUR countries can obtain legal residence within five months and at little cost, which grants permission to work. Argentina suspended its method for expediting this process in early 2018.
Argentina has local content requirements for specific sectors. Requirements are applicable to domestic and foreign investors equally. Argentine law establishes a national preference for local industry for most government procurement if the domestic supplier's tender is no more than five to seven percent higher than the foreign tender. The amount by which the domestic bid may exceed a foreign bid depends on the size of the domestic company making the bid. In May 2018, Argentina issued Law 27,437, giving additional priority to Argentine small and medium-sized enterprises and, separately, requiring that foreign companies that win a tender must subcontract domestic companies to cover 20 percent of the value of the work. The preference applies to procurement by all government agencies, public utilities, and concessionaires. There is similar legislation at the sub-national (provincial) level.
In November 2016, the government passed a public-private partnership (PPP) law (27,328) that regulates public-private contracts. The law lowered regulatory barriers to foreign investment in public infrastructure projects with the aim of attracting more foreign direct investment. Several projects under the PPP initiative have been canceled or put on hold due to an ongoing investigation on corruption in public works projects during the last administration. The PPP law contains a "Buy Argentina" clause that mandates at least 33 percent local content for every public project.
Argentina is not a signatory to the WTO Agreement on Government Procurement (GPA), but it became an observer to the GPA in February 1997.
In July 2016, the Ministry of Production and Labor and the Ministry of Energy and Mining issued Joint Resolutions 123 and 313, which allow companies to obtain tax benefits on purchases of solar or wind energy equipment for use in investment projects that incorporate at least 60 percent local content in their electromechanical installations. In cases where local supply is insufficient to reach the 60 percent threshold, the threshold can be reduced to 30 percent. The resolutions also provide tax exemptions for imports of capital and intermediate goods that are not locally produced for use in the investment projects.
In 2016, Argentina passed law 27,263, implemented by Resolution 599-E/2016, which provides tax credits to automotive manufacturers for the purchase of locally-produced automotive parts and accessories incorporated into specific types of vehicles. The tax credits range from 4 percent to 15 percent of the value of the purchased parts. The list of vehicle types included in the regime can be found here: http://servicios.infoleg.gob.ar/infolegInternet/anexos/260000-264999/263955/norma.htm . In 2018, Argentina issued Resolution 28/2018, simplifying the procedure for obtaining the tax credits. The resolution also establishes that if the national content drops below the minimum required by the resolution because of relative price changes due to exchange rate fluctuations, automotive manufacturers will not be considered non-compliant with the regime. However, the resolution sets forth that tax benefits will be suspended for the quarter when the drop was registered.
The Media Law, enacted in 2009 and amended in 2015, requires companies to produce advertising and publicity materials locally or to include 60 percent local content. The Media Law also establishes a 70 percent local production content requirement for companies with radio licenses. Additionally, the Media Law requires that 50 percent of the news and 30 percent of the music that is broadcast on the radio be of Argentine origin. In the case of private television operators, at least 60 percent of broadcast content must be of Argentine origin. Of that 60 percent, 30 percent must be local news and 10 to 30 percent must be local independent content.
Argentina establishes percentages of local content in the production process for manufacturers of mobile and cellular radio communication equipment operating in Tierra del Fuego province. Resolution 66/2018 maintains the local content requirement for products such as technical manuals, packaging, and labeling. The percentage of local content required ranges from 10 percent to 100 percent depending on the process or item. In cases where local supply is insufficient to meet local content requirements, companies may apply for an exemption that is subject to review every six months. A detailed description of local content percentage requirements can be found at: http://servicios.infoleg.gob.ar/infolegInternet/verNorma.do;jsessionid=0CA1B74C2D7EC353E66F1CC6CFD8B41D?id=255494
There are no requirements for foreign IT providers to turn over source code and/or provide access to encryption, nor does the government prevent companies from freely transmitting customer or other business-related data outside the country's territory.
Argentina does not have forced localization of content in technology or requirements of data storage in country.
There is no discrimination between domestic and foreign investors in investment incentives. There are no performance requirements. A complete guide of incentives for investors in Argentina can be found at: https://www.inversionycomercio.org.ar/es/inversores .
Secured interests in property, including mortgages, are recognized in Argentina. Such interests can be easily and effectively registered. They also can be readily bought and sold. Argentina manages a national registry of real estate ownership (Registro de la Propiedad Inmueble) at http://www.dnrpi.jus.gov.ar/ . No data is available on the percent of all land that does not have clear title. There are no specific regulations regarding land lease and acquisition of residential and commercial real estate by foreign investors. Law 26,737 (Regime for Protection of National Domain over Ownership, Possession or Tenure of Rural Land) establishes the restrictions of foreign ownership on rural and productive lands, including water bodies. Foreign ownership is also restricted on land located near borders.
Legal claims may be brought to evict persons unlawfully occupying real property, even if the property is unoccupied by the lawful owner. However, these legal proceedings can be quite lengthy, and until the legal proceedings are complete, evicting squatters is problematic. The title and actual conditions of real property interests under consideration should be carefully reviewed before acquisition.
Argentine Law 26.160 prevents the eviction and confiscation of land traditionally occupied by indigenous communities in Argentina, or encumbered with an indigenous land claim. Indigenous land claims can be found in the land registry. Enforcement is carried out by the National Institute of Indigenous Affairs, under the Ministry of Justice and Human Rights.
The Government of Argentina adheres to some treaties and international agreements on intellectual property (IP) and belongs to the World Intellectual Property Organization and the World Trade Organization. The Argentine Congress ratified the Uruguay Round agreements, including the provisions on intellectual property, in Law 24425 on January 5, 1995.
The U.S. Trade Representative's 2020 Special 301 Report identified Argentina on the Priority Watch List. Trading partners on the Priority Watch List present the most significant concerns regarding inadequate or ineffective IP protection or enforcement or actions that otherwise limit market access for persons relying on IP protection. For a complete version of the 2020 Report, see: https://ustr.gov/sites/default/files/2020_Special_301_Report.pdf .
Argentina continues to present long-standing and well-known challenges to intellectual property (IP)-intensive industries, including those from the United States. A key deficiency in the legal framework for patents is the unduly broad limitations on patent eligible subject matter. Pursuant to a highly problematic 2012 Joint Resolution establishing guidelines for the examination of patents, Argentina rejects patent applications for categories of pharmaceutical inventions that are eligible for patentability in other jurisdictions, including in the United States. Additionally, to be patentable, Argentina requires that processes for the manufacture of active compounds disclosed in a specification be reproducible and applicable on an industrial scale. Stakeholders assert that Resolution 283/2015, introduced in September 2015, also limits the ability to patent biotechnological innovations based on living matter and natural substances. These measures have interfered with the ability of companies investing in Argentina to protect their IP and may be inconsistent with international norms. Another ongoing challenge to the innovative agricultural chemical and pharmaceutical sectors is inadequate protection against the unfair commercial use, as well as unauthorized disclosure, of undisclosed test or other data generated to obtain marketing approval for products in those sectors. Finally, Argentina struggles with a substantial backlog of patent applications resulting in long delays for innovators seeking patent protection in the market. Government-wide hiring restrictions that remain in place, going back to a hiring freeze in 2018, have resulted in a limited number of patent examiners. The United States encourages Argentina to extend the National Institute of Industrial Property's (INPI) participation in the Patent Prosecution Highway with the U.S. Patent and Trademark Office, which expired in March.
Enforcement of IP rights in Argentina continues to be a challenge, and stakeholders report widespread unfair competition from sellers of counterfeit and pirated goods and services. La Salada in Buenos Aires remains the largest counterfeit market in Latin America. Argentine police generally do not take ex officio actions, prosecutions can stall and languish in excessive formalities, and, when a criminal case does reach final judgment, criminal infringers rarely receive deterrent sentences. Hard goods counterfeiting and optical disc piracy are widespread, and online piracy continues to grow due to nearly nonexistent criminal enforcement against such piracy. As a result, IP enforcement online in Argentina consists mainly of right holders trying to convince Argentine Internet service providers to agree to take down specific infringing works, as well as attempting to seek injunctions in civil cases, both of which can be time-consuming and ineffective. Right holders also cite widespread use of unlicensed software by Argentine private enterprises and the government.
Argentina made limited progress in IP protection and enforcement in a year that saw a presidential transition. INPI began accepting electronic filing of patent, trademark, and industrial designs applications in 2018 and is working toward transitioning to an all-electronic filing system by 2020. Argentina continued to improve procedures for trademarks, with INPI reducing the time for a trademark opposition from an average of 3.5 years to one year. On trademarks, the law provides for a fast track option that reduces the time to register a trademark to four months. The United States welcomes and continues to monitor this change. To further improve patent protection in Argentina, including for small and medium-sized enterprises, the United States urges Argentina to ratify the Patent Cooperation Treaty. The United States encourages Argentina to provide transparency and procedural fairness to all interested parties in connection with potential recognition or protection of geographical indications, including in connection with trade agreement negotiations.
Argentina's efforts to combat counterfeiting continue, but without systemic measures, illegal activity persists. There have been reports of a resurgence of markets selling counterfeit and pirated goods, including at La Salada, the largest of these types of markets. The United States encourages Argentina to create a national IP enforcement strategy to build on its successes and move to a sustainable, long-lasting initiative. The United States also encourages legislative proposals to this effect, along the lines of prior bills introduced in Congress to provide for landlord liability and stronger enforcement on the sale of infringing goods at outdoor marketplaces such as La Salada, and to amend the trademark law to increase criminal penalties for counterfeiting carried out by criminal networks. Argentina formally created the Federal Committee to Fight Against Contraband, Falsification of Trademarks, and Designations, formalizing the work on trademark counterfeiting under the National Anti-Piracy Initiative launched in 2017. The United States encourages Argentina to expand this initiative to online piracy. Revisions to the criminal code that had been submitted to Congress, including certain criminal sanctions for circumventing technological protection measures, have stalled. The creation of a federal specialized IP prosecutor's office and a well-trained enforcement unit could potentially help combat online piracy as well as prevent lengthy legal cases with contradictory rulings. In June 2019, Argentina and the United States held a bilateral meeting under the Innovation and Creativity Forum for Economic Development, part of the U.S.-Argentina Trade and Investment Framework Agreement, to continue discussions and collaboration on IP topics of mutual interest. The United States intends to monitor all the outstanding issues for progress and urges Argentina to continue its efforts to create a more attractive environment for investment and innovation.
Argentina's legal system incorporates several measures to address public sector corruption. The foundational law is the 1999 Public Ethics Law (Law 25,188), the full text of which can be found at: http://servicios.infoleg.gob.ar/infolegInternet/verNorma.do?id=60847 . A March 2019 report by the OECD's Directorate for Public Governance underscored, however, that the law is heterogeneously implemented across branches of the government and that the legislative branch has not designated an application authority, approved an implementing regulation, or specified sanctions. It also noted that Argentina has a regulation on lobbying, but that it only applies to the executive branch, and only requires officials to disclose meetings with lobbyists. With regards to political parties, the report noted anonymous campaign donations are banned, but 90 percent of all donations in Argentina are made in cash, making it impossible to identify donors. Furthermore, the existing regulations have insufficient controls and sanctions, and leave gaps with provincial regulations that could be exploited.
Within the executive branch, the government institutions tasked with combatting corruption include the Anti-Corruption Office (ACO), the National Auditor General, and the General Comptroller's Office. Public officials are subject to financial disclosure laws, and the Ministry of Justice's ACO is responsible for analyzing and investigating federal executive branch officials based on their financial disclosure forms—which require the disclosure of assets directly owned by immediate family members. The ACO is also responsible for investigating corruption within the federal executive branch or in matters involving federal funds, except for funds transferred to the provinces. While the ACO does not have authority to independently prosecute cases, it can refer cases to other agencies or serve as the plaintiff and request that a judge to initiate a case.
Argentina enacted a new Corporate Criminal Liability Law in November 2017 following the advice of the OECD to comply with its Anti-Bribery Convention. The full text of Law 27,401 can be found at: http://servicios.infoleg.gob.ar/infolegInternet/anexos/295000-299999/296846/norma.htm . The new law entered into force in early 2018. It extends anti-bribery criminal sanctions to corporations, whereas previously they only applied to individuals; expands the definition of prohibited conduct, including illegal enrichment of public officials; and allows Argentina to hold Argentines responsible for foreign bribery. Sanctions include fines and blacklisting from public contracts. Argentina also enacted an express prohibition on the tax deductibility of bribes.
Official corruption remains a serious challenge in Argentina. In its March 2017 report, the OECD expressed concern about Argentina's enforcement of foreign bribery laws, inefficiencies in the judicial system, politicization and perceived lack of independence at the Attorney General's Office, and lack of training and awareness for judges and prosecutors. According to the World Bank's worldwide governance indicators, corruption remains an area of concern in Argentina. In the latest Transparency International Corruption Perceptions Index (CPI) that ranks countries and territories by their perceived levels of corruption, Argentina ranked 66 out of 180 countries in 2019, an improvement of 19 places versus 2018. Allegations of corruption in provincial as well as federal courts remained frequent. Few Argentine companies have implemented anti-foreign bribery measures beyond limited codes of ethics.
In September 2016, Congress passed a law on public access to information. The law explicitly applies to all three branches of the federal government, the public justice offices, and entities such as businesses, political parties, universities, and trade associations that receive public funding. It requires these institutions to respond to citizen requests for public information within 15 days, with an additional 15-day extension available for "exceptional" circumstances. Sanctions apply for noncompliance. As mandated by the law, the executive branch created the Agency for Access to Public Information in 2017, an autonomous office that oversees access to information. In early 2016, the Argentine government reaffirmed its commitment to the Open Government Partnership (OGP), became a founding member of the Global Anti-Corruption Coalition, and reengaged the OECD Working Group on Bribery.
Argentina is a party to the Organization of American States' Inter-American Convention against Corruption. It ratified in 2001 the OECD Convention on Combating Bribery of Foreign Public Officials in International Business Transactions (Anti-Bribery Convention). Argentina also signed and ratified the UN Convention against Corruption (UNCAC) and participates in UNCAC's Conference of State Parties. Argentina also participates in the Mechanism for Follow-up on the Implementation of the Inter-American Convention against Corruption (MESICIC).
Since Argentina became a party to the OECD Anti-Bribery Convention, allegations of Argentine individuals or companies bribing foreign officials have surfaced. A March 2017 report by the OECD Working Group on Bribery indicated there were 13 known foreign bribery allegations involving Argentine companies and individuals as of that date. According to the report, Argentine authorities investigated and closed some of the allegations and declined to investigate others. The authorities determined some allegations did not involve foreign bribery but rather other offenses. Several such allegations remained under investigation.
Felix Pablo Crous
Government of Argentina Anti-Corruption Office
Oficina Anticorrupción, 25 de Mayo 544, C1002ABL, Ciudad Autónoma de Buenos Aires.
Phone: +54 11 5300 4100
Email: anticorrupcion@jus.gov.ar and http://denuncias.anticorrupcion.gob.ar/
Poder Ciudadano (Local Transparency International Affiliate)
Piedras 547, C1070AAK, Ciudad Autonoma de Buenos Aires
Phone: +54 11 4331 4925 ext 225
Email: comunicaciones@poderciudadano.org
Website: http://www.poderciudadano.org
Demonstrations are common in metropolitan Buenos Aires and in other major cities and rural areas. Nevertheless, political violence is not widely considered a hindrance to the investment climate in Argentina.
Protesters regularly block streets, highways, and major intersections, causing traffic jams and delaying travel. While demonstrations are usually non-violent, individuals sometimes seek confrontation with the police and vandalize private property. Groups occasionally protest in front of the U.S. Embassy or U.S.-affiliated businesses. In February 2016, the Ministry of Security approved a National Anti-Street Pickets Protocol that provides guidelines to prevent the blockage of major streets and public facilities during demonstrations. However, this protocol did not often apply to venues within the City of Buenos Aires (CABA), which fall under the city's jurisdiction. The CABA government often did not enforce security protocols against illegal demonstrations.
In December 2017, while Congress had called an extraordinary session to address the retirement system reforms, several demonstrations against the bill turned violent, causing structural damage to public and private property, injuries to 162 people (including 88 policemen), and arrests of 60 people. The demonstrations ultimately dissipated, and the government passed the bill.
Union disputes and politicized worker movements are common in CABA and the Provinces. Recently in 2019, and early 2020 following the election of the Fernandez administration foreign-owned diamond mining companies in Neuquen were targeted by work stoppages and insider attacks in failed attempts to intimidate and force employers to increase salaries and benefits. These protesters have seemingly been allowed to act without fear of response from local police forces, even after direct requests for assistance had been made. The companies believe the unions and protesters feel emboldened by the new government's stance towards Western companies and were forced to shut down operations for weeks in December 2019 and January 2020, in fear of the safety of their personnel at the local headquarters. These issues were exacerbated by the familial connections of the local Federal Police Chief and the relevant union boss.
Argentine workers are among the most highly-educated and skilled in Latin America. Foreign investors often cite Argentina's skilled workforce as a key factor in their decision to invest in Argentina. Argentina has relatively high social security, health, and other labor taxes, however, and high labor costs are among foreign investors' most often cited operational challenges. The unemployment rate was 8.9 percent in the fourth quarter of 2019, according to official statistics. The government estimated unemployment for workers below 29 years old as roughly double the national rate. Analysts estimate one-third of Argentina's salaried workforce was employed informally. Though difficult to measure, analysts believe including self-employed informal workers in the estimate would drive the overall rate of informality to 40 percent of the labor force.
Labor laws are comparatively protective of workers in Argentina, and investors cite labor-related litigation as an important factor increasing labor costs in Argentina. There are no special laws or exemptions from regular labor laws in the Foreign Trade Zones. Organized labor plays an important role in labor-management relations and in Argentine politics. Under Argentine law, the Ministry of Labor recognizes one union per sector per geographic unit (e.g., nationwide, a single province, or a major city) with the right to negotiate a collective bargaining agreement for that sector and geographic area. Roughly 40 percent of Argentina's formal workforce is unionized. The Ministry of Labor ratifies collective bargaining agreements. Collective bargaining agreements cover workers in a given sector and geographic area whether they are union members or not, so roughly 70 percent of the workforce was covered by an agreement. While negotiations between unions and industry are generally independent, the Ministry of Labor often serves as a mediator. Argentine law also offers recourse to mediation and arbitration of labor disputes.
Tensions between management and unions occur. Many managers of foreign companies say they have good relations with their unions. Others say the challenges posed by strong unions can hinder further investment by their international headquarters. Depending on how sectors are defined, some activities such as oil and gas production or aviation involve multiple unions, which can lead to inter-union power disputes that can impede the companies' operations.
During 2017, the government helped employers and workers agree on adjustments to collective bargaining agreements covering private sector oil and gas sector workers in Neuquen Province for unconventional hydrocarbon exploration and production. The changes were aimed at reducing certain labor costs and incentivizing greater productivity. Employers and unions reached similar agreements in the construction and automotive sectors.
The Fernandez government does not intend to pursue a broad labor reform bill, preferring instead to allow firms and workers to negotiate any adjustments to labor conditions through the collective bargaining process. The Ministry of Labor has indicated interest in proposing a "gig economy" bill (ley de plataformas) that would extend basic labor rights to, e.g., delivery workers coordinated through information technology applications. Labor-related demonstrations in Argentina occurred periodically in 2019. Reasons for strikes include job losses, high taxes, loss of purchasing power, and wage negotiations. Labor demonstrations may involve tens of thousands of protestors. Recent demonstrations have essentially closed sections of the city for a few hours. Demonstrations by airline employees caused significant flight delays or cancellations in recent months as well.
The Ministry of Labor has hotlines and an online website to report labor abuses, including child labor, forced labor, and labor trafficking. The Superintendent of Labor Risk (Superintendencia de Riesgos del Trabajo) has oversight of health and safety standards. Unions also play a key role in monitoring labor conditions, reporting abuses and filing complaints with the authorities. Argentina has a Service of Mandatory Labor Conciliation (SECLO), which falls within the Ministry of Labor. Provincial governments and the city government of Buenos Aires are also responsible for labor law enforcement.
The minimum age for employment is 16. Children between the ages of 16 and 18 may work in a limited number of job categories and for limited hours if they have completed compulsory schooling, which normally ends at age 18. The law requires employers to provide adequate care for workers' children during work hours to discourage child labor. The Department of Labor's 2018 Worst Form of Child Labor for Argentina can be accessed here: https://www.dol.gov/agencies/ilab/resources/reports/child-labor/argentina
The Department of State's 2018 Human Rights Report for Argentina can be accessed here:  https://www.state.gov/reports/2018-country-reports-on-human-rights-practices/argentina/
Argentine law prohibits discrimination on the grounds of sex, race, nationality, religion, political opinion, union affiliation, or age. The law also prohibits employers, either during recruitment or time of employment, from asking about a worker's political, religious, labor, and cultural views or sexual orientation. These national anti-discrimination laws also apply to labor relations and other social relations.
Argentina has been a member of the International Labor Organization since 1919.


This is the little cubby hole where I set my cobalt blue glass on a white marble coaster; there isn't much in the way of light that can get it due to its being shielded by the flatbed scanner and a line of cd's.
I picked my glass up to finish drinking the water when I noticed that there was water dripping off of the bottom of the glass and the coaster was wet like I had spilled the m-state water on it. I wiped off the bottom of the glass with my fingers, instead of wiping my hand on my jeans, I licked the water off of my fingers, to my surprise it had the most sickening sweet taste at first, ran my finger across the coaster and tasted that, it too was really sweet.
I called B into the living room to run his finger across the coaster and glass just to make sure it wasn't my imagination. I licked the sides of the glass and it was very sweet up one side of it and all around the bottom, I sat the glass down on a paper towel on the flat bed scanner, then started licking the coaster and it was so sweet tasting at first it was almost sickening, but then got used to the taste.
I even went as far as tasting the paper towel that the glass sat on when I put it down and it was sweet also, I had sat a glass of m-state water on it several times during the day and other days, without paying attention if it was damp at any time after picking up the glass.
I really got curious, I licked the lid of the scanner and it was sweet as well, then went to the kitchen and started picking up all the glass bottles that do have and did have the m-state water in it, sure enough they were all sweet tasting on the bottom of them and some had a sweet taste up along the sides as well, even the two Creamora jars which are dark colored. B picked up the glass he had m-state water in and the bottom of it was sweet too.
Then I glanced up at the jars of m-state water with the roses and over to the airplane plants, so picked those up and tasted the bottoms of each jar, the ones with m-state in it are sweet to the taste. The vortex trap wastewater jars and the tap water jars don't have any kind of taste at all. I'm still in awe over this!!
Now since I sit my coffee cup on the same coaster in that little cubbyhole, I licked the bottom of it and sure enough it is so sweet tasting!!I had B lick the bottom of his coffee cup and his was not sweet at all. So I believe that the cobalt blue coffee cup picked up the sweetness off of the coaster and the taste was not from spilling any coffee on it, especially since all the other glass jars are sweet tasting too. We don't use sugar in our coffee or any thing else, we use sweet stevia, the sweetness is different tasting than the sweetness that is on the glass jars and the coaster, stevia leaves a slight licorice after taste, the sweetness from the jars, glass and coaster do not.
We are going to experiment some more with different coaster and plastic glasses and set some glasses on magnets as well, and will tape / document every thing. One more taste test here.... the yellow rose with the red lined petals, that vile is glass, it also tastes sweet from the m-state water it had in it, it has been sitting there empty with the rose just sitting in it since about 3 a.m. (15th) last night.
kitchen and the sun happened to be shining in.
I was standing in the kitchen, holding the glass at the bottom while my husband snapped the photo looking down into the cobalt blue glass with the sun shinning through it. You can see the oil in this one, he did use the flash on this first one.
Still in the kitchen, this time no flash was used and it picked up the suns rays through the cobalt blue glass.
We sat the cobalt blue glass on the light oak dinning room table out in the sun room. This is looking straight down into it with the sun shinning straight through the glass.
This is a quart jar sitting in the same spot on the dinning room table out in the sun room. You can see the bands of sun rays as the sun shines through it, but we had to be at an angle to see it.
We sat the cobalt blue glass on some material to see if it made any difference in the way the rays would show up any better.
The m-state water in the glass is so milky or cloudy that you can barely see the bottom of the glass. The glass is sitting on the light oak table in the sun room.
These are all the photos until the sun decides to smile upon us again!!
Yesterday 11-15-2000 we filled the jar on the right with m-state water, the jar on the left has tap water in it, both jars are filled equally full, to the brim. We held them up to the window to for comparison, they both look the same, nice and clear.
A better look at the two jars together.
A better look at the m-state jar.
A better look at the jar with tap water.
We then sat the two jars on the stove back where there isn't much light that will get to them, this is the reason that this photo is dark and grainy looking. The m-state jar on the right and the tap water jar is on the left.
The two jars held up again in the same spot.
Here is a closer look at the two jars. The m-state vortex trap water on the right has much more refined / smaller bubbles in it, while the tap water on the left holds larger bubbles.
Msjar-1.jpg is a closer look at the more refined bubbles.
Tapjar-1.jpg is a closer look at the larger tap water bubbles.
Today we decided to take some pictures comparing the first and second stage trap water with the ordinary tap water. We filled three containers and this is what we found happening in our tap water after it sat for about 8 hours. We really expected it to be clear, as it had been up until now.
As soon as we filled the glass (around 11 a.m.), aluminum foil was wrapped around it with another piece of foil placed over the top of the glass to help keep it clean. What we found is our normal tap water now shows a high content of m-state. The colloidal content, with substantial oil on the surface, was only noticeable as an output of a single stage vortex trap a few weeks ago. For some reason it is now manifesting without going through a vortex trap.
When we removed the foil cap from the glass and shined a small Mag flashlight on the surface, we saw that there was a semi-stationary vortex in the water. As we watched it we saw another vortex literally come up and off from the side of the one captured in the photo and leave the glass. As the second vortex pulled up and away from the main one in the water, it left the main vortex with a half open circle to the right that can be seen in the photo.
Here is another picture of the same glass that contained the vortex right after the aluminum foil was removed from the outside of the glass. My husband shined the Mag light through the glass at the bottom, the camera caught the beam through the bottom and also caught the reflection of some vapor coming off the top of the water.
As my husband and I were wondering how this could be with our plain tap water, my husband had held his hand over the top of the glass and he felt a very firm bump on his right index finger. We then both saw a burst of light that came up and out from the top of the glass that expanded as it moved. In about 2 seconds it was out of the water, inflated to the size of the soccer ball and moved quickly towards our living room. Then it landed on the floor half under the piano bench. One of our cats promptly perched and watched it. By this time we were not to sure where it went.
As I walked by the piano bench into the living room, I saw what looked like a dark spot that was about the size of a small orange rise up from the floor, half hitting the underside of the bench, then burst into another bright flash. I am almost too chicken to say that I literally saw a small human type being come from this light as if being shot from a catapult then vanished. This may sound crazy and bizarre, but that is what we saw and what happened. As we stood and watched the glass, the vortex took about 20 minutes to slowly fade out but the glass is still full of evenly dispersed suspended matter.
After all of this happened, we both became hungry; for some reason I felt as if I hadn't had any thing to eat all day. I also felt a surge of an energy flow throughout my whole body that started at the bottom of my feet and went upward; it literally made me feel intoxicated. This feeling comes and goes and now (12:45 a.m.) I feel so tired that I can barely keep my eyes open, yet I can still feel the flow.
As a follow up on an observation my wife and I had over a year ago, I have had some time to reflect on the occurrence and wish to go on record that the event did take place as reported in the trap water diary just in case anyone reading about it may feel she was perhaps hallucinating. It was most unexpected and surprising.
Repeating an experiment with our water in an attempt to find out what the little sparks are all about and get some pictures of the vortices we were observing we set about conducting the experiment as in previously successful attempts.
We had drawn a glass of water as we had many times before in the early evening. The glass was immediately wrapped in aluminum foil and covered and allowed to set for about several hours until reasonably dark outside. We were expecting to see the familiar vortex in the water. These vortices are most visible in near dark in the light of a focused beam flashlight after the water has set covered for a time.
We had seen several little sparks rise quickly from the surface in the past, though not every time, and were hoping to see another. They seem to remain in the glass until we remove the top foil. Then they sort of spark off the surface.
In this case, when we removed the foil we once again observed a very noticeable vortex. About a half inch wide at the surface of the water and funneling down to the bottom in a tornado shape. While not noticeably moving, these change shape over several minutes. As we observed the surface for the first few seconds we saw a bright spark leave the surface from near the center of the vortex. It almost instantly rose to the height of our faces and expanded to a semitransparent sphere about the size of softball as it rose. It was luminescent ghostly blue white in color.
It seemed to bounce off both our faces a couple of times in a sort of dance then expanded further as it speed away from us toward the kitchen wall. I recall feeling a slight push backward as it bounced between us. It abruptly turned 90 degrees to the N.E. without contacting the wall and accelerated into the next room just in front of the piano. Then it abruptly dropped down under the piano bench out of sight. Our cat ran over in front of the bench and sat watching it though we could no longer see it.
We realized we had both seen something and she asked, "Did you just see what I did?"
"Kind of a white sphere" I said.
"That's right." she confirmed. We both stood in astonishment for a few seconds.
I thought the object was probably gone and returned my gaze to the vortex wondering if anything else was forthcoming. My wife slowly walked into the room by the cat and looked down to see a small, about 1 ft tall, semitransparent young, mid twenties age, fully clothed male person crouched below the bench.
When he realized he had been spotted he leaped into the air and very quickly sort of soared to the far end of the room, some 25 feet, to the far set of windows and once again vanished. From my perspective in the kitchen all I saw was a bluish white streak rise up from under the bench and shoot like a comet across the doorway and out of sight. It was noticeably larger, about the size of a basketball, on my second viewing. That was my last view of our visitor.
My wife saw him again a short time later, about 15 minutes, when she sat down at her computer. He was outside the windows looking in and had grown to about 3 feet and somewhat less transparent. He smiled and nodded at her! She called to me, but when I entered the room he had left for parts undisclosed and neither of us have seen him since.
The purpose of this writing is to confirm from the writer's point of view and personal experience that we are surrounded by intelligence. We seem almost incapable of comprehending the extent and nature of the life force that supports us. And, many non-mainstream concepts are, unfortunately, still ignored by mainstream research. I recall a few years back while employed as an engineer in heavy industry I held up a pencil to a coworker and indicated that it could be filled with intelligent life. I received the sort of response one might expect from a typical institutionally manipulated engineer. "Anything not growing or moving around under its own power is DEAD. There may be moving electrons and such in there but no life" end of discussion!!!
I also recall a reading assignment in a classical literature class in college. Though I do not recall the author or the exact phrase, the author stated that "One is on the path to discovery when one can see infinity in a grain of sand!".
We do not know where our visitor hailed from or to where he returned. We do know that he answered our question. The water does contain life and those who dwell within are apparently not upset with our efforts of discovery. We look at our visitor as a messenger from an infinitely smaller or perhaps parallel universe.
We seem incapable of changing the nature of life itself. If known and if empowered to do so we may not choose to do it. As we learn, we may find some lessons very disturbing. Yet, we must put each and every piece of the puzzle into place until the larger picture comes into focus. Sometimes pieces do not fit anywhere and must be stored for future use. As we share information, we may realize the piece we have fits nicely in someone else's puzzle section. And their section may fit nicely somewhere with ours.
Please keep an open, unbiased mind and remember to share and enjoy life.
This water went through the 2-stage trap, then we put it through the second stage trap 2 more times. The sunlight REEEEEEALY dances in this, there are more rays than Carter has little liver pills and all kinds of shapes!! I used both lenses on the camera; the 10X was on first and then the 7X. But look at how the shapes at the top are so crystalline and golden in color, they don't really look like bubbles, you can see bubbles that are nice and round on the side of the glass jar!! They literally look like suspended flakes of gold!! If you look straight at the jar and find some of the little round bubbles, then look off to one side, you will see that instead of round bubbles they are changing to another form!! This jar when compared to the second stage trap water does have more of the ray lines.
Here are the rest of the pics. These are all the same jar and using the sun; it decided to smile upon us for a little while today so I took pics like mad!! <BG> We can't get over how golden the water looks, these pics are gorgeous!! This one shows the bubbles and sun rays.
A couple of things moved while the camera was taking the picture. We have seen things come up and fly off the m-state water at night in very low lighting. We feel that some of the things marked in these photos are what we see as flashes of light coming off the m-state water at night. As the particles move through the water, the lens of the camera sees the trail it leaves.
The smaller circled area on the right, when enlarged or zoomed in on, looks as if it is about 3 or 4 circles within itself. The lacey patterns are really unique; they build and then fade away. The other things marked towards the bottom left as well as on the other photos leave what looks to be ghost trails.
The only item marked in this photo has changed from the last photo, this we feel really shows definate movement that only the camera can see.
What looks to be 2 rings, the one on the right is new; the one on the left has shown up in previous frames. Note the fading or ghostly like appearance.
On the left side of photo look at the double lines, especially the one towards the bottom in the box. There is a bubble that can be used as a marker to show that the 2 lines have moved slightly. Bottom right looks to be a ring of light that appears to be fading. Top right is something really strange and will be seen in coming photos, there was absolutely nothing such as string or hair in the water. Yet there is definitely something there!!


This lesson introduces students to Rene Descartes.
• To be able to explain Descartes cogito .
• To be able to name some of Descartes ideas.
Rene Descartes was born in 1596 to a family of the French lower nobility. He originally studied law at Poitiers and then traveled to Paris to study on his own. Descartes studied the works of a man named Montaigne while in Paris.
At the beginning of the Thirty Years War, Descartes joined the war effort by volunteering for service in the army of Maurice of Nassau. His desire to volunteer may not have actually come from wanting to fight in the war. Descartes also appeared to want time to travel and think.


Lasers Med Sci. 2019 Feb;34(1):223-234. doi: 10.1007/s10103-018-2676-5. Epub 2018 Nov 6.
Is there a measure for low power laser dose?
Departamento de Biofísica e Biometria, Instituto de Biologia Roberto Alcantara Gomes, Universidade do Estado do Rio de Janeiro, Boulevard Vinte e Oito de Setembro, Avenida 28 de Setembro, 87, fundos, Vila Isabel, Rio de Janeiro, 20551030, Brazil. adnfonseca@yahoo.com.br.
Centro de Ciências da Saúde, Centro Universitário Serra dos Órgãos, Avenida Alberto Torres, 111, Teresópolis, Rio de Janeiro, 25964004, Brazil. adnfonseca@yahoo.com.br.
Low power lasers have been used successfully for treatment of many diseases in soft and bone tissues. Basic and clinical researches have developed quickly being the scientific basis to therapeutic protocols based on these lasers. However, there are difficulties to compare experimental and clinical results obtained from different researchers because a complicated and intricate list of physical and biological parameters should be checked before the irradiation procedures as well as part of these parameters are omitted or inaccurately reported. This review focuses on the physical and biological parameters proposed to make experimental and clinical protocols accurate and reproducible as well as suggests dose parameters based on biological effects induced by low power lasers. A variety of parameters are reported by different authors and the number of parameter suggested could overcome three dozens. Thus, laser dose and laser dose equivalent are defined based on laser-induced biological effects and suggested as simplified dose parameters for low power lasers. These parameters could simplify and be useful to researchers and clinicians, permitting comparisons and decreasing mistakes and inaccuracies when laser-induced effects are evaluated and compared with those obtained in previous studies. The laser dose and laser dose equivalent could contribute significantly to improve accuracy, effectiveness, and safety of clinical protocols based on low power lasers.


The InterContinental Mark Hopkins is a landmark Nob Hill destination with breathtaking views of the Bay Area, with a local legacy and grand architectural character that make it one of the most celebrated luxury hotels in San Francisco. Offering an experience of class and character, this historic hotel has been updated with modern amenities, high-tech features and elegant design. With unbeatable views, luxurious accommodations and historic charm, the sophisticated San Francisco hotel is an ideal choice for travelers who appreciate the finer things in life.
This landmark Nob Hill hotel offers a 19th-floor sky bar, a 24-hour fitness center, and a business center providing cell phone rental.
InterContinental Mark Hopkins guestrooms offer bathrobes, minibars and coffeemakers, and wireless Internet access (surcharge).


text:
Fight Guide
Oracle cloud revenue misses as competition intensifies
March 28, 2021 March 22, 2021 ammaarhacom
Business software maker Oracle Corp's cloud division reported quarterly revenue that missed analysts' estimates, on increased competition from Amazon.com Inc and Microsoft Corp for cloud services due to remote working.
Oracle said it expects fourth-quarter revenue to increase between 1% and 3% on a constant currency basis, the midpoint of which implies a revenue of $10.65 billion. Analysts had expected current-quarter revenue of $10.84 billion, according to IBES data from Refinitiv.
Oracle's shares fell 6.5% to $67.44 in extended trading on Wednesday.
With the shift to remote work, many businesses were pushed to shift operations to the cloud resulting in an increase in demand for offerings by Oracle, Microsoft's Azure and Amazon Web Services.
Revenue from Oracle's cloud services and licenses support unit, its largest by revenue, rose 5% to $7.25 billion in the reported quarter, compared with analysts' estimates of $7.27 billion.
"We are opening new regions as fast as we can to support our rapidly growing multi-billion dollar infrastructure business," Oracle Chairman Larry Ellison said.
To compete with cloud services provided by Amazon and Microsoft, Oracle has been setting up more data centers.
"Some say Oracle is 'turning into a cloud giant', but their growth is still pretty small. Despite some notable progress, Oracle's Q3 revenue grew by just 3%. And that's with some notable cloud-driven progress," said Third Bridge analyst Scott Kessler.
The company's revenue rose 3% to $10.09 billion for the third quarter ended Feb. 28, edging past analysts' estimates of $10.07 billion.
On an adjusted basis, Oracle earned $1.16 per share, beating estimates of $1.11.
Microsoft reiterates 'VR for console is not a focus for us' following localization bug
'Time lost is brain lost': New study looks at mobile stroke units and patient outcomes
Excellent Advice For Those Who Are College Bound
Seahawks not tendering Jordan Simmons
Proudly powered by WordPress | Theme: Blog New by Candid Themes.

redpajama_set_name: RedPajamaCommonCrawl


text:
11-й Каннский кинофестиваль проходил со 2 по 18 мая 1958 года в Каннах, Франция.

Жюри
 Марсель Ашар (Франция) (президент)
 Томико Асабуки (Япония)
 Бернар Бюффе (Франция)
 Жан де Баронселли (Франция) (критик)
 Хельмут Койтнер (ФРГ)
 Дадли Лесли (Великобритания)
 Мадлен Робинсон (Франция)
 Ладислао Вайда (Испания)
 Чарльз Видор (США)
 Сергей Юткевич (СССР)
 Чезаре Дзаваттини (Италия)
 Норман Макларен (Канада) (короткометражные фильмы)
 Жан Митри (Франция) (короткометражные фильмы)
 Кришна Рибуд (Индия) (короткометражные фильмы)
 Эдмон Сешан (Франция) (короткометражные фильмы)
 Ежи Тёплиц (Польша) (короткометражные фильмы)

Фильмы в конкурсной программе

Награды
 Золотая пальмовая ветвь: Летят журавли, реж. Михаил Калатозов
 Приз жюри:
 Гоха
 Бронзовые лица
 Особый приз жюри: Мой дядюшка
 Приз за лучшую мужскую роль:
 Пол Ньюмен — Долгое жаркое лето
 Приз за лучшую женскую роль:
 Биби Андерссон, Эва Дальбек, Барбро Хиорт аф Орнес и Ингрид Тулин — На пороге жизни
 Приз за лучшую режиссуру: Ингмар Бергман — На пороге жизни
 Приз за лучший сценарий: Молодые мужья
 Особое упоминание: Летят журавли
 Золотая пальмовая ветвь за короткометражный фильм: Джоконда: История наваждения и Сена встречает Париж

Ссылки
 11-й Каннский кинофестиваль
 Каннский кинофестиваль 1958 года в Базе IMDB
 Каннский кинофестиваль 1958 года

Каннский кинофестиваль
1958 год во Франции
Кинофестивали 1958 года
Май 1958 года

redpajama_set_name: RedPajamaWikipedia


text:
Everything But Breakfast For Four Hundred Thousand People
The new documentary Woodstock – Three Days That Defined A Generation has its Chicago premiere tomorrow night at the Gene Siskel Film Center on State Street. Director Barak Goodman's film features footage that's never been seen before, and serves as a fitting way to start a summer that's bringing a number of ways to celebrate the 50th Anniversary of the iconic rock festival. There will be tribute concerts in addition to screenings of Goodman's film, and a multi-CD box set for people who want to get their hippie on in the privacy of their living rooms.
As reported on The Second Disc website, Rhino plans to release Woodstock - Back To The Garden: The Definitive 50th Anniversary Archive. It's a 38-CD box set that captures the Woodstock experience from start to finish, including 267 previously unreleased songs and several announcements. It comes with a hardbound book by Michael Lang, a replica of the original program, Henry Diltz photo prints, and a life-size hologram of Wavy Gravy serving breakfast. Just kidding about that last part.
At the Metropolis Performing Centre in Arlington Heights, Soundtracks Of A Generation will present its 50th Anniversary Tribute to the Woodstcok Era on July 12. The live performances of songs by Crosby, Stills and Nash, Santana, Jefferson Airplane, and other acts will be augmented by a "documentary style narrative that recalls and explains the time frame."
For a Woodstock-related experience, check out the Louder Than Words – Rock Power Politics exhibit at the Museum of Broadcast Communications. It's just down the street from the Gene Siskel Center, and runs through the end of August. Echo In The Canyon, Andrew Slater's new documentary about L.A.'s Laurel Canyon scene in the 1960s, comes to the Music Box Theatre on Chicago's north side on June 21. Jakob Dylan, who appears in the film, will be on hand for opening night.
Everything But Breakfast For Four Hundred Thousand...
From L.A. To Chicago With Speed
Signs Of Summer
You Can Read It In The Sunday Papers
whitewolfsonicprincess - The Alternate Boot Vols. ...
Rocking Out Near The Ball Park