EDELAP, a company of the DESA Group, informed that it put into service a new substation built in the town of Bavio, district of Magdalena, adding 15 MVA (megawatts) to its high voltage system, and two new 13.2 kV trunk lines belonging to the medium-voltage network. The company has already completed works for more than 1,300 million pesos ($13.8 mn) to improve the reliability and operation of the networks that supply the industrial companies in the region and all the users in the southern area of La Plata.
The government confirmed that the State would reach 218 billion pesos ($2.31 bn) in SMEs between 2020 and 2021. It will deepen the financial inclusion agenda and committed new funds for digitalization.
Argentina's fintech ecosystem experienced a substantial boost during the pandemic. It currently has 302 companies, 20% of which created in the last year. Now, the sector plans to increase its staff by 40% this year, which is equivalent to incorporating some 5,600 people. In this way, it will reach a total of 20,000 jobs.
During April, industrial production in SMEs continued on a path of tenuous recovery, although it is still below pre-pandemic levels: a 76.9% growth compared to the same month last year when there was a 53.1% drop due to the effect of the pandemic. Compared to 2019, there was a contraction of 17.1%.
With the support of BICE (Banco de Inversión y Comercio Exterior), the agricultural company Ingacot, dedicated to the breeding and reproduction of pigs, is investing more than 100 million pesos ($1.06 mn) in expanding the production capacity of its farm located in the town of Bolívar, Buenos Aires.
In 2020, digital payments grew throughout the region due to the isolation measures by Covid 19. According to the Argentine Fintech Chamber, e-commerce platforms, virtual wallets, and online tools increased by 60%.