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Procter & Gamble to invest $50 million in Argentina in 2016-17

BUENOS AIRES (Reuters) - Procter & Gamble Argentina will invest $50 million in the South American country in 2016-2017, the local subsidiary of the U.S. consumer products giant said on Monday, on the eve of President Barack Obama’s visit.

Obama will visit Argentina with a large delegation of businessmen three months after free-marketeer President Mauricio Macri took office and began dismantling capital and trade controls that stalled investment and economic growth in recent years.

Reporting by Walter Bianchi; Editing by Richard Lough and Cynthia Osterman

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