Argentina opens up to international investors

The controversial trimmed down version of the ‘omnibus bill’ promises to attract more foreign investment to sectors including oil and gas, but critics raise concern it still goes too far

More than six months into the first term of Argentina’s firebrand president, Javier Milei, and Congress has finally passed into law his sweeping economic reform package. The ‘Law of Bases’ bill received 147 votes to 107 in the lower chamber and is expected to have profound implications on the country’s energy sector. The new reform package authorises the executive branch to partially or entirely privatise eight companies, including state-owned energy company Enarsa. Previously, Milei pledged to privatise state oil firm YPF but appears to have softened his stance or temporarily abandoned the idea. “In January, Milei proposed privatising around 40 state companies as part of [his government’s]