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On 31 July, Canning House had the pleasure of welcoming Martín Llaryora, Governor of Córdoba Province, Argentina, and members of his government to a Business Breakfast at its offices in London. This breakfast roundtable offered an exclusive opportunity to hear directly from Mr Llaryora and his team on Córdoba’s economy and business environment, and the province’s investment potential.
On 31 July, Canning House had the pleasure of welcoming Martín Llaryora, Governor of Córdoba Province, Argentina, and members of his government to a Business Breakfast at its offices in London.
This breakfast roundtable offered an exclusive opportunity to hear directly from Mr Llaryora and his team on Córdoba’s economy and business environment, and the province’s investment potential.
Irene Mia, a member of Canning House’s Board of Trustees and Senior Fellow for Latin America & Conflict, Security and Development at the International Institute for Strategic Studies (IISS), began proceedings with words of welcome to the delegation from Córdoba and the guests around the table, and brief introductory remarks on the session.
Next, HE Mariana Plaza, Ambassador of Argentina to the United Kingdom, spoke briefly to welcome the Governor and his team, and thank Canning House for hosting this meeting.
Guillermo C Acosta, Minister of Economy and Public Management in Córdoba’s government, stood first to deliver a presentation focused on key indicators in the province’s finances and investment.
The Minister began with an overview of Córdoba’s economy – Argentina’s third largest provincial economy, representing 9% of the country’s GDP, and its second most populated, home to over 3.9M people.
Mr Acosta described the diversification of Córdoba province’s economy – it is Argentina’s biggest producer of a variety of agricultural products, including soybeans, milk and maize; a hub for automotive manufacturing within Argentina; and a major centre for knowledge generation, boasting 12 universities, including Argentina’s oldest, the Universidad Nacional de Córdoba.
He went on to explain how Córdoba’s five-pillar economic productivity and competitiveness framework – based on public-private articulation, evidence-based policymaking, sustainability, territoriality and innovation – helps to boost the province’s comparative advantages and investment opportunities.
Following Mr Acosta’s presentation, Mr Llaryora rose to speak further on his programme as Córdoba’s governor.
The Governor described Córdoba’s “central characteristics” – principal among them the province’s continual generation of talent and knowledge, with it boasting 12 universities and over 300,000 students.
Mr Llaryora said that knowledge base means Córdoba province has been able to position itself as a hub for businesses across a wide variety of sectors – like agriculture and food production, including multiple major food producing multinationals; automotive manufacturing, attracting a number of global auto makers; and as a regional node for top-quality health services. The province has also attracted Argentina’s ‘unicorn’ technology firms, with many establishing a presence in Córdoba.
Córdoba, the Governor put forward, is also attractive for some of its key economic and commercial indicators: the province boasts relatively strong productivity within Argentina, a solid record of debt servicing and repayment, and, looking forward, is implementing measures to boost market competitiveness, open up new export opportunities, and continually seek new and diverse investment sources.
Looking more widely, Mr Llaryora touched upon the position of Córdoba province within Argentina more widely, in the context of new developments in the country’s mining and gas sectors, in what he described as a “window of opportunity” for investors under the government of Argentine President Javier Milei. Even at a moment of profound economic challenge for Argentina, with household consumption receding, Mr Llaryora saw encouragement in the strength of the country’s strategic sectors.
Questions from the audience touched upon topics including potential headwinds to international investment, Córdoba’s strategy for digital transformation, how UK companies can best reach the province, and the implications of Argentina’s newly implemented large investment incentive regime, known as the RIGI.
Canning House thanks Mr Llaryora, Mr Acosta and their teams for their presentations, HE Mariana Plaza and the Embassy of Argentina for their assistance in organising this Business Breakfast, and our audience for their engagement and interest.
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