• Wed. May 22nd, 2024

Argentine Entrepreneurs Optimistic About Economic Reforms, Expect Growth in Employment and Exports in Knowledge Economy Sector

BySamantha Nguyen

Mar 25, 2024
Argentina looks forward to economic reforms by Milei to boost its knowledge economy

In a recent survey conducted by the business organization Argencon, Argentine entrepreneurs expressed optimism that the economic reforms implemented by President Javier Milei will have a positive impact on their country’s employment rates and exports in the knowledge economy sector. The study found that 80% of respondents anticipate an increase in exports due to the government’s focus on liberalization policies, with half expecting export growth to exceed 10%.

The survey included 28 companies from various industries within the knowledge economy sector, including information technology and professional services. According to a report from the first half of 2023, exports of knowledge-based services in Argentina reached US$8.06 billion, showing an annual increase of 8.8%. Looking ahead, 70% of respondents expect growth in employment rates, with over half anticipating a growth of more than 10%.

However, there are challenges that may hinder this growth. Difficult access to foreign currency, exchange rate volatility, regulatory complexity, and limitations on paying salaries in US dollars were mentioned as potential obstacles. Despite these challenges, Argencon’s president believes that removing foreign exchange restrictions, stabilizing exchange rates, simplifying regulations and reforming labor markets will significantly enhance competitiveness in the knowledge economy sector. This could lead to increased employment and exports in the coming years.

Looking ahead, many companies are hopeful that demand for knowledge-based services will continue to grow in Latin America and potentially surpass global growth rates.

By Samantha Nguyen

As a content writer at newsskio.com, I weave words to craft compelling narratives that captivate readers and bring stories to life. With a keen eye for detail and a passion for storytelling, I strive to create engaging and informative content that resonates with our audience. Whether I'm delving into the latest news trends or exploring unique angles on various topics, my goal is to deliver quality content that informs, entertains, and inspires. Join me on this journey as we uncover the news stories that matter most.

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