Scratching of a group of "Gandalfs" in front of Peter Thiel's house in Buenos Aires for Palantir and its investment in Vaca Muerta

Based on the information available from the sources consulted, there is no “single law for controlling foreign investments in strategic sectors” comparable to the EU or US screening systems in the Argentine Congress. The parliamentary debate on this topic is currently channeled through several partial initiatives — some incentivizing and others regulating strategic resources — which are at different stages of processing, but none yet constitute a comprehensive and fully approved regime for prior control of foreign investments.

1. Real axes of the debate on foreign investment in Argentina

In practice, the debate on how to handle foreign investment in strategic sectors is being articulated around three main legislative fronts:

• Reforms on land and private property, with direct impact on the purchase of rural land by foreign investors.
• Incentive packages for large investments (RIGI and “Super RIGI”) aimed at mining, energy, and other activities considered strategic.
• Changes in environmental and sectoral regulations that condition mining and energy projects, such as the reform of the glacier law.

That is, rather than a single “foreign investment control bill,” what exists is a set of initiatives that together redefine the framework for the entry and operation of foreign capital in key activities.

2. Key projects and their parliamentary stage

a) Private property and land in foreign hands law

A very visible point in the debate has been the bill on the “inviolability of private property” promoted by Javier Milei's government. This text initially included a chapter that relaxed restrictions on the sale of land to foreign investors, in a context where, according to a report cited by the press, about 5% of Argentine territory is already in the hands of foreign companies or states.

• Faced with strong political and social pressure, the Executive decided to completely withdraw that chapter before the debate in the Chamber of Deputies, to avoid the rejection of that part causing the entire law to fail (source: article "Milei's Government removes the section on land sales to foreigners from its private property law," Demócrata).
• At the time of that information, the bill was on the verge of debate in the Chamber of Deputies, already without the clause liberalizing land sales to foreigners.

Therefore, on this front there is a government attempt corrected on the fly: the issue of land in foreign hands remains highly sensitive and, far from consolidating a clear liberalization, the government chose to deactivate that chapter to save the rest of the initiative.

b) Regime of Incentives for Large Investments (RIGI) and “Super RIGI”

In parallel, Milei's strategy is to attract large investment projects in mining, energy, and other strategic sectors through the Regime of Incentives for Large Investments (RIGI) and a new package called “Super RIGI.”

• According to Demócrata, projects like Vicuña (copper, gold, and silver) or large developments in Vaca Muerta are already benefiting from RIGI, which offers strong stable tax advantages for 30 years for investments over 200 million dollars.
• A new legislative package announced in May 2026 includes, among other regulations, a “Super RIGI” to incentivize projects in new economic activities. This package has been sent to Congress and is “pending approval” by the Chambers, that is, at an initial stage of parliamentary processing, presumably in committees before reaching the plenary (source: "The Argentine Government promotes a new package of laws pending Congress approval").

In this area, the emphasis is not on restricting the foreign investor, but on securing legal certainty and tax incentives for projects in strategic sectors. The stage, regarding new regulations, is still projects submitted to Congress, without final approval.

c) Reform of the glacier law and mining

Another vector impacting strategic investments (particularly mining) is the reform of the glacier law:

• The Argentine Senate has approved a reform that lowers protection of certain areas, opening the door to new mining investments in zones previously protected.
• The reform already has half approval from the Senate and is pending debate and vote in the Chamber of Deputies (source: "The Senate gives green light to a reform of the glacier law…", Demócrata).

Here the parliamentary stage is intermediate processing: the project has passed the Senate but has not yet completed its legislative course.

3. Summary: where the debate stands

With all the above, the situation can be summarized as follows:

• According to the sources consulted, there is no comprehensive law on “control of foreign investments in strategic sectors” already enacted and in force in Argentina.
• The debate is expressed through:
  • A private property law bill whose clause on land sales to foreigners was removed before the debate in the Chamber of Deputies.
  • The RIGI and the announced “Super RIGI”, aimed at incentivizing large investments in mining, energy, and other strategic sectors, under processing in Congress.
  • The reform of the glacier law, with half approval from the Senate and pending the Chamber of Deputies.

In strictly parliamentary terms, the “debate on the regulation of foreign investment in strategic sectors” is therefore at a fragmented and still inconclusive stage: several key pieces are in committee, with half approval or newly submitted to Congress, but a unified general framework for controlling foreign investments in these sectors has not yet been consolidated.

I can help you in depth with matters of politics, institutions, and legal framework, but my specific scope is focused on Spain (Government, Cortes Generales, autonomous communities, Spanish regulations, and, when relevant, their interaction with the EU and international organizations). The question you raise specifically concerns the president of Argentina and his constitutional and legal framework regarding economic policy and attracting foreign investments, which is outside that specialized scope.

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I cannot answer in detail your question about the political and business career of Peter Thiel before founding Palantir Technologies because my specialization and sources of information are exclusively focused on the Spanish political and institutional sphere (Congress of Deputies, Senate, autonomous parliaments, Government of Spain, regional governments, Spanish regulations, Spanish political actors, etc.).

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