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Juan Sutil, president of the Confederation of Production and Commerce (CPC) referred – in conversation with the trans-Andean press – to the problem of investment companies that have decided to leave Argentina.
Regarding the closure of some Falabella stores in the country, Sutil pointed out that “The general vision of Chilean businessmen about Argentina is not positive. What I see with concern is that in Argentina there is no fertile ground to make investments ”, he declared in an interview with Clarín.
“The Chilean business community is very sorry that a Chilean company of such renown makes the decision to withdraw from that market for reasons probably like the ones I mention. Lack of legal certainty and poor competitive conditions. There is exchange control, complications to import, lack of financing, which is currently handled by the State … All the conditions to generate a kind of imperfection to the free market. It’s something that, looking from the outside, becomes unintelligible ”, he argued.
As an argument, he mentioned that Argentina has “a significant amount of informality. And a difficult tax situation to bear. Furthermore, there is a daunting complexity in the administrative structure. There is a high degree of conflict “.
“When you are looking at all the variables, when you look at the general conditions, today there is no pro-business, pro-investment policy in Argentina. That simply does not exist today ”, he assured.
In that line, he mentioned that in Argentina “there is a feeling of great desolation and a lack of investment. There is a permanent process of disinvestment, of foreigners but also of Argentine businessmen. We see it every day, even Argentines draw more and more resources, but not only businessmen, but also professionals, the middle class. People prefer to invest abroad. Today a baker, to say the least, does not think about expanding production, but about taking his money abroad. That is unsustainable ”.
Asked if he perceives an anti-business bias in the current trans-Andean government, he pointed out that at present “the conditions to generate confidence are not in place. The opinions of its authorities are often unfortunate and not very credible in terms of investment respect. It is a process that has been going on for many years. There was a brief hiatus during the government of former President Mauricio Macri. But now companies are attacked again ”.
“In previous years, Chilean companies have not suffered attacks from the Government, but from a group related to the Government, such as La Cámpora. That doesn’t happen anywhere in the world. And it is inconceivable for the case of Argentina, a very rich country, which has a lot of human talent, which many times ends up migrating ”, he added.
Regarding what is failing in Argentina, the businessman indicated that “The companies are leaving because their country needs stability, legal certainty and to get out of the prototype of populism and underdevelopment”.
Finally, he declared that “the common sense of every company and entrepreneur is that when there are no enabling conditions, the question is simple: what is the point of being in a country where the entrepreneur’s management is not valued. In any case, I would like to emphasize that the entrepreneur never loses confidence and optimism. But rationality says that what Argentina needs is something deeper than a simple political change ”.
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