Amazon Presses the Brake on Argie US$800MM Investment?

[Rich One]

Cronista reports a slow down of Amazon's investment project in a Data Center in Bahia Blanca.

Amazon pone una pausa a su inversión de US$ 800 M en la Argentina

Sin anuncios para el país en su evento de noviembre, la empresa se niega a hacer declaraciones sobre la inversión. Pero fuentes extraoficiales y ajenas a la empresa le confirmaron a Infotechnology que la situación en Bahía Blanca está "parada".

www.infotechnology.com

"In spite of the intense rumors that assured that the giant of the services in the cloud would be installed in our country, Amazon Web Services (AWS) presented its plans for 2020, without neglecting its operations in Latin America, but with no indication of plans to make foot in Argentine territory with infrastructure."

 

[JeffR]

It is a shame to watch Argentina (a great country with a lot of good people) lose so much business to Brazil and Uruguay for no good reason

Pompeo and Uruguay president elect Lacalle Pou look forward to a closer partnership

United States Secretary of State Mike Pompeo spoke on Monday to Uruguayan president-elect Luis Lacalle Pou to congratulate him on his November 24 presidential election victory and to discuss expanding bilateral economic engagement and deeper political cooperation.

en.mercopress.com

Also ran across this last night; some pretty interesting comments/views:

Leonardo Leiderman: "Las crisis económicas del país en las últimas décadas fueron made in Argentina"

Leonardo Leiderman: "Las crisis económicas del país en las últimas décadas fueron made in Argentina"

www.lanacion.com.ar

 

[toongeorges]

It is a shame to watch Argentina (a great country with a lot of good people) lose so much business to Brazil and Uruguay for no good reason

Leonardo Leiderman: "Las crisis económicas del país en las últimas décadas fueron made in Argentina"

Leonardo Leiderman: "Las crisis económicas del país en las últimas décadas fueron made in Argentina"

www.lanacion.com.ar

Quote from the article:

Para que aumente la actividad, el empleo y el crecimiento, el Gobierno tiene que ofrecer un marco pro negocios, en el cual las empresas quieran aumentar la inversión, el empleo y la productividad. En mi opinión, parte de las medidas tomadas hasta hoy van por un camino contrario a lo mencionado.

There is your reason. Since I was in Argentina until December and will go back at the end of this month, I was talking with a family member at the New Year's family gathering about his time as a director at Campina, a Dutch dairy producer. They had bought a dairy farm in Argentina, but decided to get rid of it under Christina, because they had to pay 100÷ taxes on their profits. I heard this time around Nike quit the country and fired all Argentine employees. I guess several companies shut down their operations after the election of the new government.

It is just that Argentina is not business friendly and that as a consequence businesses that tried but could not make it work here are leaving and that no new investments are coming in.

It is sad, but in the end Argentines only have to blame the incompetent governments they keep electing and their own incompetence of doing otherwise. I do not feel much pity for the Argentines who blame capitalism/the IMF/the US for their problems and who expect to be compensated, but I do feel pity for the Argentines who try to make a living or who try to run a business, because Argentina is such a difficult place to do so.