The outcome of the presidential elections to be held on Sunday 23 October in Argentina is now taken for granted: Cristina Elisabet Fernandez de Kirchner, now president in office, will most likely see her mandate confirmed. Over 23 million citizens (out of 28 million eligible) voted in the primaries, where Kichner beat her opponents by winning 50,1% of the vote. Observing the data of the country's economy, which thanks to the Mercosur network is giving vigor to the economy of all of Latin America, it seems that this victory is not only the result of the great populist spirit of the "president".
Since 2003, GDP has grown at an average rate of 8% and for 2011 estimates range between 8,4% and 9%. Kirchner has implemented several social policies that have increased jobs and combated social inequalities. But there is still a long way to go: consultancy agencies such as the Consultora equis, considered the closest to the Government, calculate that there is still 20% of the population living in conditions of poverty. Also on the Casa Rosada the burden of inflation continues to weigh – around 20% according to the latest data from the International Monetary Fund. But Argentina remains a place where Italian entrepreneurs look with interest, also driven by the appeal of neighboring Brazil, an easy outlet for a large growing market.
Fiat – Il Lingotto, which has been present at the production level in the country since the 50s, can count on various plants, in particular the cutting-edge one built in the late 90s in Cordoba. In 2010, the automaker's sales in Argentina increased by 28%. Marchionne said a few days ago that Argentina "plays a key role" in the group's growth on the South American continent. “Our intention, he added, is for the country to become a manufacturing center of excellence”. Fiat is also present in Argentina through Iveco, which produces commercial vehicles locally for both the domestic and export markets.
Tenaris – The Italian-Argentine seamless pipe company is closely linked to the destiny of the South American country and not only economically. The Rocca family controls Techint, and therefore in turn the state-owned company Siderar, which places the two Rocca brothers, Paolo and Gianfelice, often in a tough confrontation with politics.
Pirelli – The Lombard group can boast the seniority award: it has been present in Argentina since 1898. If it has been involved in the production of tyres, rubber products and fiber optic cables since 1917, today it only owns the Merlo plant where it produces tyres. However Pirelli announced a few days ago that will invest 300 million dollars for double the aforementioned plant and strengthen its position in the country. In 2011 Pirelli's turnover in Argentina is expected to reach 500 million dollars, an increase of approximately 40% compared to 2010.
Telecom Italy – A year ago it concluded the long tug of war to increase its stake in "Telecom Argentina" of which it now holds 58% (against the original 50%). Furthermore, the chairman Franco Bernabé, a few days ago, declared that he was interested in increasing the portion of capital in the Argentine subsidiary. Together with Brazil, the two South American countries contribute 34% of the telecommunications giant's turnover, and this share is growing year on year.
Brembo – Present in the country for five years, the Bergamo-based luxury brake company has seen its numbers grow in South America, above all thanks to the large Brazilian outlet market. In the first half of the year, the turnover of the Bombassei Group in Brazil grew by over 16%.
Impregile it – Motorway concessions, such as Caminos las Sierras, were largely the cause of the sharp increase in Group profits in the first half of the year. Furthermore, Impregilo's participation in the construction of the Yacyreta dam should be mentioned, which continues to arouse conflicting opinions in public opinion.
Enel – Since taking control of Endesa, the group has strengthened throughout South America, so much so that the last board meeting on Thursday was held in Madrid. In both the generation and distribution of electricity, it has about a 20% market share in Argentina and is also active in the transmission of energy with neighboring Brazil.
Fernet – The amaro of the now century-old Milanese company has become the symbol of Argentina. Today the “Fernet y Coca” cocktail is spread throughout the country and everyone has tried this drink at least once in their life. Present in Buenos Aires since the 40s, the Branca brothers opened a production site in 2000 and continued to expand even during the 2001-2002 crisis.
Ferrero – It has been present in Argentina with an industrial plant since 1996.
Bank Intesa – has a 10% stake in Banco Patagonia, the country's sixth largest lender. But it must be remembered that Banco do Brasil, the largest bank in South America, owns 51% of Banco Patagonia.
Generali Insurance – He took over part of the “Caja de ahorro”, becoming one of the leaders in the country's insurance sector.
