The president of Argentina, Alberto Fernández , announced that the 2023 budget for Science and Technology will be 500 billion pesos (today 3,495 million dollars) . The amount represents 0.34 percent of the Gross Domestic Product (GDP) compared to 0.22 percent in 2019, added the Minister of Science, Technology and Innovation , Daniel Filmus . The announcement took place at the Institute of Physiology, Molecular Biology and Neurosciences, in Ciudad Universitaria.
“Argentina has no future if it does not develop science and technology. That is what we mean when we talk about sovereignty, that we can do it ourselves without depending on others. We do it because we are betting on the future”, said the head of state, adding that the allocated percentage of GDP is what is ordered by the financing law of the National Science, Technology and Innovation System .
The announcement was made within the framework of the enactment of the nanobiotechnology law , promoted by the ruling party and which had completed its parliamentary run two weeks ago. The Secretary of Knowledge Economy, Ariel Sujarchuk , the Minister of Health, Carla Vizzotti and representatives of the Argentine Chamber of Biotechnology, the Argentine Foundation of Nanotechnology and the Institute of Physiology, Molecular Biology and Neuroscience also participated.
The regulation updates Law 26,270 applying modifications in its scope —now it includes nanotechnology— and terms , extending its validity until December 31, 2034. It also stipulates the accelerated amortization in the income tax for capital goods and the return of VAT in the purchase of resources for the production process and seeks to guarantee the conversion into tax credit bonds of 50 percent of the expenses destined to contracting research and development services with institutions of the National System of Science, Technology and Innovation.
According to official data, the Ministry of Science has assisted 1,700 SMEs so far this year with subsidies and credits for 9 billion pesos (today 62.9 million dollars), of which 25 percent are bio and nanotechnology projects. . There are 220 biotechnology companies nationwide , more than 100 startups and a turnover in the area of more than 2.1 billion dollars.