The Government has regulated Law No. 27.419, which aims, among other things, at the development and sustainable growth of the Argentine-flagged fleet of the Merchant Marine, the consolidation and increase of its participation in freight generated by national cabotage, bilateral and multilateral traffic and international traffic; and the promotion of the incorporation of ships and naval artifacts built in the country into the National Merchant Marine.
Through the decree 650 / 2018 Published this Monday (16.7.2018) in the Official Gazette, the National Executive Branch supports "create a national flag Merchant Navy and rehabilitate the naval industry through state incentives". Meanwhile, it creates a National Shipowners Registry, in charge of the Enforcement Authority, in which shipowners who intend to avail themselves of the benefits established by said law must register.
Likewise, this decree establishes as Enforcement Authority of the new law to the Undersecretariat of Ports, Waterways and Merchant Marine from the Transportation Management Secretariat of the respective Ministry.
Finally, it is reported that the decree will come into force as of today, the date of its publication.
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