The National Government established the Procedures Manual – Analysis of Competitiveness of the Mining Value Chain and Import Substitution, through the Resolution 138 / 2020.
The regulations of the Ministry of Productive Development, published this Thursday (24.12.2020), indicate that the objective of the aforementioned Procedure Manual is to determine the mechanisms to analyze the different goods and services imported by the mining sector. In this way, they will be able to identify which ones could be supplied by national companies, in a competitive manner. The initiative seeks to “Increase the relative weight contributed by suppliers within the industrial matrix at local, provincial, regional and national levels".
The text explains that the Mining Investment Law determined that those registered in the Mining Investment Regime will be exempt from paying import duties and any other duty, special tax, corresponding levy or statistical fee, excluding other fees for services. This exemption applies to the introduction of capital goods, special equipment or parts or components of said goods, and the inputs determined by the implementing authority, which are necessary for the execution of activities included in the regime.
The regulations also indicate that “mining is a sector with great potential to attract and stimulate investments towards the real economy in its different spheres.” In this sense, it considers that “for a greater impact, in addition to royalties, taxes and fees generated by mining activity, It is necessary that projects channel their investments into the development of local, provincial, regional and national suppliers.".
"Argentina has a long tradition of industrial production, with production centres in different provinces of the country.”, the text highlights. At the same time, it indicates that “the productive framework of goods and services covers different areas with lesser or greater intensity in the added value within the chain in the different economic sectors”.
The Mining Secretariat has among its objectives “to promote greater participation of Argentine companies in the provision of goods and services to mining sector projects, in the exploration, construction, production and closure stages.” Therefore, the State will identify the existence of local supplier companies of the good or service included in the order when a company intends to incorporate goods, parts, spare parts or inputs. Thus, it will proceed to channel the operation through companies located in the country or authorize its importation.
The provisions of the new Resolution signed by the Secretary of Mining, Alberto Hensel, come into effect immediately.
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