Investment Policy Monitor
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The Investment Policy Monitor provides the international investment community with up-to-date, country-specific information on recent policy developments affecting foreign direct investment (FDI).
Through its ongoing monitoring of investment policy changes, UNCTAD delivers cutting-edge and forward-looking contributions to investment policy discourse. The Monitor also supports evidence-based policymaking aimed at ensuring that foreign investment contributes to sustainable development. The Monitor also informs the analysis of global and regional investment policy trends featured in the World Investment Report, the Investment Policy Monitor publications and the joint UNCTAD-OECD Reports on G20 Investment Measures.
UNCTAD has tracked changes in national policies affecting FDI on an annual basis since 1992. Over time, the methodology has been revised to enhance the quality and consistency of reporting. The most recent revision, completed in 2024, further refined the monitoring framework and applied the updated classification to policy measures dating back to 2012.
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UNCTAD Investment Policy Monitor The UNCTAD Investment Policy Monitor database compiles official measures affecting FDI adopted by United Nations Member States. These encompass measures explicitly targeting foreign investment (FDI-specific), as well as general investment measures that have a clear impact on such investment (FDI-related).
The measures are either reported directly to UNCTAD by Member States through annual surveys or identified by UNCTAD researchers through publicly accessible sources (such as government websites and specialized policy databases).
The classification of measures as more or less favourable to investors is based solely on their potential impact on investors. The type of measures included in each category are described below. This classification does not reflect any value judgement by UNCTAD on the merit or suitability of the measure.
Classification of the nature of measures
More favourable to investors
Liberalization: includes privatization; lifting of entry restrictions (e.g. opening of sectors to FDI) and entry conditions (e.g. minimum capital requirement); removal (total or partial) of FDI screening or approval mechanisms; lifting of foreign exchange restrictions; liberalization of land access.
Facilitation: includes streamlining of investment procedures (e.g. one-stop shops); greater transparency of investment-related laws and procedures (e.g. information portals); introduction by IPAs and other entities of new services to assist investors (e.g. linkages programmes, investor visa facilitation or alternative dispute resolution mechanisms).
Promotion: includes establishment of IPAs or other institutions with a remit as investment promoters and expansion of their mandate; adoption of investment promotion strategy and plans; introduction of PPPs, auctions, and concessions initiatives or framework; introduction of OFDI promotion initiatives.
Incentives: includes adoption of new tax and financial incentives schemes for investment; introduction of other incentives (e.g. citizenship by investment programmes); adoption of new SEZ-related incentives.
Other regulatory changes: includes enhancement of investor treatment and protection guarantees; easing of labour or migration regulations concerning foreign hires and key personnel; removal of operational restrictions on investment (e.g. local content requirements).
Less favourable to investors
Entry: includes introduction or tightening of entry restrictions (e.g. total or partial ban on FDI in specific sectors); introduction or tightening of entry conditions (e.g. minimum investment threshold, joint venture requirements or State participation in strategic sectors); introduction or expansion of screening mechanisms for national security.
Treatment and operation: includes introduction or expansion of foreign exchange restrictions; introduction or expansion of restrictions on foreign hires and key personnel; removal or reduction of investment incentives; introduction or expansion of post-establishment requirements for local content; reduction of guarantees for investment treatment and protection; introduction or expansion of restrictions on OFDI.
Note: Measures are verified, to the fullest extent possible, by referencing government sources. The compilation of measures is not exhaustive.
Disclaimer: the boundaries and names shown and the designations used on this map do not imply official endorsement or acceptance by the United Nations.
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- Argentina - Adopts new incentive regime for large investments
Argentina
Adopts new incentive regime for large investments
27 Jun 2024On 27 June 2024, the Congress of Argentina passed Law No. 27,742, known as the “Ley Bases” (Bases and Starting Points for the Liberty of the Argentine People). Among other provisions, the Ley Bases establishes the incentive regime for large investments. This regime offers several incentives:
- Tax incentives: These include a fixed 25 per cent income tax rate, asset amortization incentives, VAT payment incentives, the ability to carry forward losses, and reduced dividend taxes (7 per cent, decreasing to 3.5 per cent after seven years).
- Exemptions from withholding income tax: These apply to international payments related to projects that qualify as "long-term strategic projects."
- Import and export tax exemptions: These include the free import of goods and the export of products without local provider mandates.
- Foreign exchange benefits: These include the unrestricted payment of dividends and interest in foreign currency, and partial exemptions from repatriating export proceeds (20 per cent after two years, 40 per cent after three years, 100 per cent after four years, with earlier exemptions for strategic projects).
- Free distribution of project products: This applies without local market preferences.
- Stability guarantee: A 30-year stability period for the incentive regime, with the option to adopt more favourable future rules.
These incentives apply to investments in the following sectors: forestry-industrial, tourism, infrastructure, mining, technology, steel, energy, oil, and gas. Public infrastructure concessionaires are also eligible.
To benefit from these incentives, an investment project must apply to the regime within two years, with a minimum project amount of $200 million. Additionally, at least 40 per cent of the investment amount must be made within two years of the date of project approval.
Ley Bases also introduces a new arbitration framework under the RIGI. According to Article 221, disputes related to qualifying investments between Argentina and investors in a RIGI project—including issues of execution, application, scope, or interpretation—must first undergo amicable consultation and negotiation. If unresolved within 60 days of notification, the investor may choose arbitration through the PCA (Buenos Aires seat, Spanish language), ICC, or ICSID. The Executive Branch may also establish tailored dispute resolution mechanisms for specific projects when approving applications and investment plans.
Nature of measure:
- Facilitation
- Incentives
- Other regulatory changes
Type:
- Promotion and facilitation (Investment facilitation , Investment incentives)
Industry:
- Primary (Agriculture, forestry and fishing, Mining and quarrying)
- Primary (Agriculture, forestry and fishing, Mining and quarrying)
- Manufacturing (Manufacture of coke and refined petroleum products, Manufacture of basic metals)
- Manufacturing (Manufacture of coke and refined petroleum products, Manufacture of basic metals)
- Services (Electricity, gas, steam and air conditioning supply, Water supply, sewerage, waste management and remediation activities, Construction, Transportation and storage, Accommodation and food service activities, Telecommunications)
- Services (Electricity, gas, steam and air conditioning supply, Water supply, sewerage, waste management and remediation activities, Construction, Transportation and storage, Accommodation and food service activities, Telecommunications)
Inward FDI:
NoOutward FDI:
NoSources:
- Boletin oficial, LEY DE BASES Y PUNTOS DE PARTIDA PARA LA LIBERTAD DE LOSARGENTINOS, https://www.boletinoficial.gob.ar/detalleAviso/primera/310189/20240708, 08 Jul 2024
- Lexology, Argentina Passes Sweeping Economic Reforms: Deregulation, Privatizations, and Promotion of Private Investments in Large Projects, https://www.lexology.com/library/detail.aspx?g=0ffc36b3-12b6-4ad9-b801-b64a994a0390, 02 Jul 2024
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The Investment Policy Monitor provides the international investment community with up-to-date, country-specific information on recent policy developments affecting foreign direct investment (FDI).
Through its ongoing monitoring of investment policy changes, UNCTAD delivers cutting-edge and forward-looking contributions to investment policy discourse. The Monitor also supports evidence-based policymaking aimed at ensuring that foreign investment contributes to sustainable development. The Monitor also informs the analysis of global and regional investment policy trends featured in the World Investment Report, the Investment Policy Monitor publications and the joint UNCTAD-OECD Reports on G20 Investment Measures.
UNCTAD has tracked changes in national policies affecting FDI on an annual basis since 1992. Over time, the methodology has been revised to enhance the quality and consistency of reporting. The most recent revision, completed in 2024, further refined the monitoring framework and applied the updated classification to policy measures dating back to 2012.
-
UNCTAD Investment Policy Monitor The UNCTAD Investment Policy Monitor database compiles official measures affecting FDI adopted by United Nations Member States. These encompass measures explicitly targeting foreign investment (FDI-specific), as well as general investment measures that have a clear impact on such investment (FDI-related).
The measures are either reported directly to UNCTAD by Member States through annual surveys or identified by UNCTAD researchers through publicly accessible sources (such as government websites and specialized policy databases).
The classification of measures as more or less favourable to investors is based solely on their potential impact on investors. The type of measures included in each category are described below. This classification does not reflect any value judgement by UNCTAD on the merit or suitability of the measure.
Classification of the nature of measures
More favourable to investors
Liberalization: includes privatization; lifting of entry restrictions (e.g. opening of sectors to FDI) and entry conditions (e.g. minimum capital requirement); removal (total or partial) of FDI screening or approval mechanisms; lifting of foreign exchange restrictions; liberalization of land access.
Facilitation: includes streamlining of investment procedures (e.g. one-stop shops); greater transparency of investment-related laws and procedures (e.g. information portals); introduction by IPAs and other entities of new services to assist investors (e.g. linkages programmes, investor visa facilitation or alternative dispute resolution mechanisms).
Promotion: includes establishment of IPAs or other institutions with a remit as investment promoters and expansion of their mandate; adoption of investment promotion strategy and plans; introduction of PPPs, auctions, and concessions initiatives or framework; introduction of OFDI promotion initiatives.
Incentives: includes adoption of new tax and financial incentives schemes for investment; introduction of other incentives (e.g. citizenship by investment programmes); adoption of new SEZ-related incentives.
Other regulatory changes: includes enhancement of investor treatment and protection guarantees; easing of labour or migration regulations concerning foreign hires and key personnel; removal of operational restrictions on investment (e.g. local content requirements).
Less favourable to investors
Entry: includes introduction or tightening of entry restrictions (e.g. total or partial ban on FDI in specific sectors); introduction or tightening of entry conditions (e.g. minimum investment threshold, joint venture requirements or State participation in strategic sectors); introduction or expansion of screening mechanisms for national security.
Treatment and operation: includes introduction or expansion of foreign exchange restrictions; introduction or expansion of restrictions on foreign hires and key personnel; removal or reduction of investment incentives; introduction or expansion of post-establishment requirements for local content; reduction of guarantees for investment treatment and protection; introduction or expansion of restrictions on OFDI.
Note: Measures are verified, to the fullest extent possible, by referencing government sources. The compilation of measures is not exhaustive.
Disclaimer: the boundaries and names shown and the designations used on this map do not imply official endorsement or acceptance by the United Nations.
Share





Latest publications
