Argentine President Javier Meli waves to commemorate the 214th anniversary of the May Revolution that led to independence from Spain at Plaza San Martín in Cordoba, Argentina, on May 25, 2024.
Diego Lima | AFP | Getty Images
Argentine President Javier Meli met with leaders of the world's biggest tech companies this week, kicking off a tour of Silicon Valley that analysts say is likely to boost his international profile and boost the South's economy. Designed to showcase the American country.
On her seventh overseas trip since taking office late last year, Argentina's Miley traveled to San Francisco late Monday and has since met with OpenAI CEO Sam Altman, Google's Sundar Pichai and Apple's C Met with EO Tim Cook.
The far-right leader, and self-described “anarcho-capitalist”, is scheduled to meet Meta CEO Mark Zuckerberg before departing the US on Friday. On a separate visit to the US last month, Miley met with tech billionaire Elon Musk at the Tesla electric car factory in Austin, Texas.
Miley has shared photos of her encounters on social media platform X this week, usually showing herself giving two thumbs up to high-profile tech executives.
Miley's charm offensive is likely to make Argentina an attractive destination for investment, analysts say, due to the South American country's growing tech sector and ecosystem, as well as promises of pro-business reforms. is designed to
“Argentina is also home to significant mineral resources, with the world's second-largest lithium reserves as well as large copper deposits,” Nicolas Saldias, senior Latin America analyst at the Economist Intelligence Unit (EIU), told CNBC. are.” E-mail
“Getting these minerals out of the ground is critical to the green economy as well as to tech firms who have reliable access to critical information for their AI infrastructure. In abundance.”
EIU's Saldias said US tech companies are unlikely to invest in Argentina unless the ruling government passes its key “omnibus” reform bill – which has since been significantly watered down – and Congress's through his financial reform bill.
“The trip itself is valuable because essentially you're trying to put Argentina at the center of a global conversation about investment in material development and technology,” said Mariano Machado, Americas principal at Verisk MapleCraft. analyst, told CNBC by telephone. .
“We're not just talking about sourcing, like lithium or copper, we're talking about where these companies locate their network centers and their offices and so on,” Machado said Thursday. How do you make decisions?”
“Nonetheless, it feels like this is a first step in terms of such a conversation that will not necessarily lead to an immediate reaction from companies and investors. Rather, a 'reasonable note' response, as 'We see you are' doing your homework, but we need to see more to make a sufficient judgement,'' he added.
Aerial view of members of social movements being stopped by security forces on their way to the Olivos presidential residence to protest President Javier Meli's proposed reforms and cuts to the most vulnerable sectors in Olivos, Buenos Aires province, on May 7, 2024.
Luis Rubio | AFP | Getty Images
Meli has been struggling to implement his so-called “shock therapy” reform agenda, despite previously saying there was no alternative for the country.
In early May, Meli's government faced its second general strike in less than six months, with workers across the country protesting proposed austerity measures and a deepening economic crisis.
Meli accepted the resignation of his chief of staff, Nicolas Posse, on Monday as his government struggles to pass his proposed reforms.
EIU's Saldias said, “We assume both bills will pass the Senate, but in a weakened form. Even a watered-down version will boost investor confidence in Argentina and attract large investors.” can force you to open your wallets,” said EIU's Saldias.
He added, “If the bill is rejected, investment will likely not materialize and the economic recovery will slow and Miley's government will likely tread water as its popularity is at stake. Will be.”