On August 27, 2024, Resolution 814/2024 (the ‘Resolution’) of the Ministry of Economy was published in the Official Gazette, which establishes the creation of the RIGI Project Evaluation Committee, in charge of evaluating applications and investment plans of the Incentive Regime for Large Investments (‘RIGI’), in accordance with the provisions of Law 27.742 and Decree 749/2024.
The RIGI seeks to promote large domestic and foreign investments, with the objective of strengthening the economy, generating employment and increasing exports. The application authority is the Ministry of Economy, and it is established that the Committee will be composed of the Secretaries of Energy and Mining, Production, Infrastructure, Finance, Treasury, and Legal and Administrative of the Ministry of Economy. The Committee will evaluate applications for membership and issue a report recommending approval or rejection, based on technical evaluations by the relevant departments.
The RIGI Coordination Unit is also created, headed by the Coordinating Secretary of Energy and Mining, with the function of assisting the Committee, receiving and processing applications, monitoring procedures and coordinating with provinces and municipalities. The Unit may also require the collaboration of experts on related issues.
Finally, it establishes that the technical units involved shall cooperate with the Coordination Unit to ensure the correct implementation of the RIGI.
The resolution entered into force on 27 August 2024.
