The Argentine government approved a series of international investments in energy, mining and automotive manufacturing that will bring more than US$27 billion into the country.

The projects include investments in Argentina’s main oil and gas field Vaca Muerta as well as a Toyota initiative to produce the first 100% electric car in the country, which, according to the government, is the largest investment in the history of the local automotive industry.

They were approved under the Large Investment Incentive Regime (RIGI, by its Spanish initials), a special tax, customs and foreign exchange regime that offers investors several fiscal and currency exchange benefits when making large investments in Argentina.

On Friday, Economy Minister Luis Caputo announced that the RIGI Evaluation Committee had approved a nonconventional oil and gas production project in Vaca Muerta by international energy company Pluspetrol and local firm Gas y Petróleo del Neuquén (GyP).

Nuevo RIGI aprobado 🇦🇷🇦🇷El Comité Evaluador aprobó el ingreso RIGI del proyecto Bajo del Choique – La Invernada, impulsado por Pluspetrol y GyP. Se trata de un desarrollo no convencional en Vaca Muerta que prevé una producción de 613 millones de barriles de petróleo y 50.366… pic.twitter.com/KjMTMBUHAN— totocaputo (@LuisCaputoAR) October 2,........

© Buenos Aires Herald