Serge Massa on Monday it announced foreign exchange benefits to the knowledge economy, where it revealed that its “challenge is not” to build “the struggle of sector against sector to be able to have foreign currency “but” to grow on our incremental “, while the Government launches new dollar quotes since he took office.
The Minister of Economy announced, from the leadership of the CCK, the new exchange scheme, the so-called “techno dollar”, which will give advantages to those companies that will increase their exports compared to last year.
The knowledge economy is the third largest export complex in the country and a cregister ifra of US $ 7,000 million for 2022. However, it is also one of the sectors that strongly slows the entry of dollars.
In this context, Massa specified during his speech: “The challenge is not to see how the struggle sector against sector is built in order to have foreign currency, to be able to flow better our imports or to be able to see how they are distributed. dividends with competing sectorsbut we grow on our incremental “.
Sergio Massa: “How much do we sell when we sell a ton of satellite?”
The minister also made a comparison between the agricultural industry, which exports primary products, and the rest of the sectors that add value to goods and then place them on the foreign market.
“When we sell a ton of wheat, we sell $ 500, $ 600, $ 400,” he began his explanation and then wondered: “How much do we sell when we sell a ton of satellites?”
Massa continued with his list of other sectors of the economy. “How much do we sell when we sell added value in addition to our primary products? How much we sell when we sell a vaccine? How much do we sell when we sell medicines developed in Argentina? ” she repeated.
“There we have a huge opportunity to get out of this recurring and cyclical discussion due to the scarce availability of dollars,” Alberto Fernández’s official told the businessmen.
In turn, he said, in relation to the reserve crisis facing the Central Bank, that the government does not intend to “transform this policy into a matter of our reserves only”.
“We know it generates formal and quality employment, because we know it generates value and, above all, GDP growth,” said Massa, who also spoke of the importance of “self-esteem” as a society.
What’s the new “techno dollar”
The new exchange scheme, the so-called “techno dollar”, will benefit those companies that will increase their exports compared to last year.
Unlike the soybean dollar, it will not be a differential exchange rate, but rather a long-term easing of access to foreign currency for companies in the sector, which, according to official sources, will be able to join the new regime until June 30, 2023 and have 24 months to make investments from the approval of the project, which can be extended up to another 2 years.
With the main objective of promoting investments, the advantage for companies in the sector is that exempts the liquidation obligation in the Free Exchange Market up to 20% of currencies that could be entered as a direct foreign investment.
“The investment projects, no less than 3 million dollars, must be devoted to infrastructure, capital goods and working capital”, explain the Secretariat for knowledge led by Sujarchuk.
Another advantage that stands out is that of foreign currency gained from incremental net exports, “companies have access to a Free availability of 30% of dollars that must be used to pay staff salaries in a dependent relationship “. Therefore, the goal is to prevent the potential resources to work in these sectors of the economy from dispersing abroad.
In other words, this program will enable companies pay part of the salary in dollars and therefore have an incentive to retain employees, who are better off working “illegally” abroad than earning a formal salary in Argentina.
The third and final advantage: one-time transfer of the tax credit obligation on employer contributions, exclusively for companies registered with the Scheme, which carry out exports that represent at least 70% of annual turnover. This measure improves the functioning of the scheme.
DS
Source: Clarin
