Buenos Aires 2015 Blog: Argentina's Strongest Sectors and the Capital's Agenda for Growth

By
Elizabeth Gonzalez

AS/COA's CEO, the Chamber of Commerce president, the Buenos Aires mayor-elect, and the president's chief of staff noted economic developments at the local, national, and global scale. 

Speakers:

  • Susan Segal, President and CEO, Americas Society/Council of the Americas
  • Carlos Raúl de la Vega, President, Cámara Argentina de Comercio
  • Horacio Rodríguez Larreta, Mayor-elect of the City of Buenos Aires
  • Aníbal Fernández, Chief of the Cabinet of Ministers, Argentina

AS/COA’s President and CEO Susan Segal kicked off the annual Latin American Cities Conference in Buenos Aires by underlining Argentina’s four economic pillars: the energy sector, mining, agribusiness, and technology services. Segal also said the country had some of the best entrepreneurial talent in the region, comparable even to California’s Silicon Valley.

Chamber of Commerce head Carlos Raúl de la Vega followed with remarks on Argentina’s strongest economic sectors and the examples they set for best practices. Trade and services, in particular, generates 63 percent of GDP, said de la Vega, and accounts for seven out of every 10 employed persons. “We firmly believe that as we understand the importance of this sector, we can apply similar treatments to others,” said the Chamber of Commerce president.

Buenos Aires Mayor-elect Horacio Rodríguez Larreto offered perspectives from a local level, pointing to achievements and next steps for Argentina’s capital city to progress. While Buenos Aires saw weakened investment in the last four years and construction permits fall 70 percent from 2013 to 2014, Larreto said the current Buenos Aires government invested record levels of public funds last year. More work needs to be done to expand public transportation and innovation and technology centers in the city, he said, adding: “We want the motor of development in Buenos Aires to be the economy of creativity, of innovation.” He also described Buenos Aires as Latin America's most attractive city in which to live.

The first session of the day ended with remarks from Aníbal Fernández, Argentina’s cabinet chief and a candidate for governoer of the province of Buenos Aires in the October general elections. Fernández focused on the positive developments in the domestic economy over the last year, such as a 6.6 percent unemployment rate that is lower than 1991 levels. Nonetheless, Argentina’s growth needs to be accompanied with social inclusion, such as improving access to higher education for anyone interested, he said.
 

Watch the video beginning at 9:00