The industry's installed capacity utilization reached 64.5% in March, which marks the highest level since November 2018. Compared to March last year, the indicator showed an improvement of 12.9%, although the activity was closed due to restrictions by covid-19. Compared to March 2019, there was an improvement of 5.7%. Installed capacity also grew 6.2% concerning last February.
Category: Industry
Information about Argentina’s economic sectors
Telecom obtained a $30 mn loan for investments
Telecom Argentina announced yesterday that it had obtained a new international loan for up to $30 million, which will use to purchase equipment to strengthen the country's ICT infrastructure further and continue improving the quality of fixed and mobile connectivity services. The second credit line obtained by Telecom is guaranteed by Finland's official export credit agency, Finnvera plc. In 2019 the company got $96 million.
Fintechs plan to create 5,683 jobs this year
The Argentine fintech ecosystem has 302 companies grouped in 9 areas. It is one of the fastest-growing sectors in job creation. Since 2017 the number of jobs tripled, going from 5,280 jobs to 14,728 employees in May 2021. According to a report prepared by the Chamber together with the Great Place To Work Argentina organization, the sector expects to incorporate 5,683 new positions to end the year with 19,808 employees.
Fintech companies employ nearly 15,000 people in the country
The Argentine Fintech Chamber, which brings together providers of virtual finance and credit services and even other technology providers, has 14,728 employees in Argentina and plans to incorporate another 5,683 workers in the remainder of 2021.
Consumption of public utilities fell 12% in February
The National Institute of Statistics and Census (Indec) indicated that the consumption of public services recorded a 12% year-on-year decrease in February and a 1.1% contraction concerning last January. Source: Ámbito
Topper announces investments of more than $5.32 mn and incorporates 210 workers
The Argentine-Brazilian sportswear brand Topper announced investments of more than 500 million pesos ($5.32 million) to increase its production volume and hire 210 workers at its plant in Aguilares, province of Tucumán.
Grupo Santander announced the launch of Santander Consumer with $15.98 mn
Grupo Santander announced yesterday the launch of Santander Consumer for consumer financing. It comes with an initial investment plan of more than 1,500 million pesos ($15.98 mn) and the generation of more than 130 jobs for the next few years. The portfolio of products to be offered includes loans to companies, pledge loans, stock financing loans to dealers, and personal consumer loans.
Argentine startup Pomelo raises $9 million from various investment funds
A startup formed just three months ago by former executives of Naranja X, Mercado Pago, and Mastercard has raised $9 million from a long list of investors, including the founders of Twitter, PayPal, Rappi, Kavak and Auth0. It's called Pomelo, and it will dedicate to provide payment technology for businesses, cards and fintech from Buenos Aires to the entire region. "This is one of the largest seed capital rounds in the history of Latin America".
Government to allocate $1.92 million for innovation and social impact projects
The Government will allocate 180 million pesos ($1.92 mn) to finance ventures that incorporate innovation and Industry 4.0 solutions or contribute to generating positive social and environmental impact in their communities at the local, regional and provincial level.
Argentine producers receive less than 40% of what soybeans are worth on the international market
The taste of the producers in the face of the substantial price increases is more bitter than sweet, since they do not receive the total price, but only 37% of what quoted on the international market due to export duties, which today are 33%, and the exchange rate gap.
