President Javier Milei took aim at Argentine business leaders on Tuesday, denouncing Paolo Rocca and Javier Madanes Quintanilla, notable industrialists in the nation, as “crony businessmen.” Milei spoke to investors at the start of Argentina Week 2026, an economic forum in New York focused on showcasing investment opportunities in the country. While the president maintained that his administration was not opposed to “doing business,” he promptly directed his focus towards a segment of the Argentine business community, alleging that they had perpetuated a system of privileges linked to political influence for years. “Rocca and Madanes, in collaboration with dishonest politicians, have once again acted against the interests of the Argentine people.” Paolo Rocca leads Techint, acknowledged as the leading manufacturer of steel pipe for the oil industry. The company attracted notice after it recently lost a pipeline construction contract to the Indian entity Welspun Group. Javier Madanes Quintanilla is the owner of the aluminium powerhouse Aluar and the tire manufacturer Fate, which stopped its operations two weeks ago.
In response to criticism, Milei asserted that his administration seeks to create a favorable environment for business activities, highlighting “competition and the removal of special advantages.” He expressed his viewpoint that the process of deregulation and economic liberalization will bring benefits, claiming that “jobs lost in one sector will be replaced in other sectors with better salaries.” Milei asserted that policies align with “economic efficiency” and that decisions are based on what is deemed “fair.” This highlights yet another occasion of Milei focusing on a notable figure in the Argentine business scene. In his address on March 1 to kick off the legislative year in Congress, Milei provided criticism while refraining from naming any particular individuals. “Does anyone genuinely want to continue with a harmful system where only dishonest politicians and business figures connected to the powerful thrive, at the expense of the sincere Argentines?” he stated. A recent report by consultancy Audemus, using data from the United Nations, shows that Argentina has faced the second-worst industrial decline worldwide in the last two years. Between 2023 and 2025, Argentina’s manufacturing sector saw a drop of 7.9%, with only Hungary experiencing a larger decline. Milei has voiced worries about the consequences of the drop in industrial employment.
In a Sunday interview, he acknowledged that the economic reforms introduced by his government will inevitably result in the “disappearance” of certain economic sectors. “If you are continually enacting structural reforms that disturb the economy, you cannot anticipate certain sectors to stay unaffected,” he remarked. The president noted that areas that “fail to adjust will struggle.” Milei’s participation in Argentina Week 2026 fits with the administration’s plan to attract foreign investments for the country. The aim is to emphasize sectors considered crucial by the government, including energy, mining, infrastructure, and technology. While in New York, the president held talks with key figures in the financial sector, particularly with Jamie Dimon, the CEO of JPMorgan Chase. The delegation includes Economy Minister Luis Caputo, Deputy Foreign Minister Pablo Quirno, Presidential Spokesperson Manuel Adorni, and Minister of Deregulation Federico Sturzenegger.
The event also brings together a notable Argentine political delegation. Ten provincial governors are involved: Raúl Jalil, Alfredo Cornejo, Gustavo Sáenz, Ignacio Torres, Rolando Figueroa, Alberto Weretilneck, Claudio Vidal, Marcelo Orrego, Carlos Sadir, and Juan Pablo Valdés. Milei is currently on a six-day international trip to the United States and Chile. A little after noon on Tuesday, he left the U.S. for Santiago de Chile, where he is scheduled to attend the inauguration of president-elect José Antonio Kast in Valparaíso on Wednesday.