Argentina's mining incentive debate and Uruguay's competitiveness law spark economic reforms

In Argentina, criticism has emerged over the application of the Régimen de Incentivo a las Grandes Inversiones (RIGI) to the Batidero copper camp of the Vicuña project, a US$18 billion venture led by Lundin Mining and BHP. A foreign consortium of PowerChina and Beijing Chen Dong offered a bid of USD 52 million, versus USD 70 million from an Argentine modular firm—a difference that represents only 0.1% of the project's total CAPEX. Analysts argue that favoring the foreign bid jeopardises more than 100 local firms, cuts direct employment from roughly 450 to 50 workers, and redirects about 80% of the project's value to China, raising both economic and geopolitical concerns.

In Uruguay, Minister of Economy Gabriel Oddone has presented a draft Law of Competitiveness and Cost of Living aimed at reducing bureaucracy, modernising the state and lowering living costs. The proposal contains over 240 articles, including unified registration systems, mandatory response time limits for public administrations, extension of permit validity from five to ten years, and the possibility of self‑customs clearance. It also seeks to foster competition by easing imports, strengthening market‑watching institutions and creating a positive‑information platform to facilitate credit for SMEs. The reforms target micro‑economic efficiencies that could improve productivity and consumer prices across the country.