By KENNETH GOLDSON Associated Press WriterThe Argentina’s wine industry, which is booming, is being heralded as the miracle of the century.
For years, the country’s wine production was in tatters.
Many of its vineyards were either in decline or in the process of being destroyed.
But last year, Argentina’s government opened up production to outside investors and won approval from Congress for a $2 billion investment plan that is expected to transform the countrys wine industry.
The government said the plan would boost Argentina’s output by 10 percent, boost the quality of Argentina’s wines and allow it to export its wine to Europe and the U.S.
The plan has already been approved by the National Assembly, where President Mauricio Macri, a former president, is seeking a third term.
It is expected that the plan will generate $2.5 billion in private investment.
The investment will also help boost Argentina to the top spot in the world in terms of wine production, according to a report published last year by the International Wine Institute, a trade association.
The institute says the plan is the largest investment in the history of the wine industry in Argentina.
The countrys biggest winery, Esteban Vazquez, is expected be able to produce at least 10,000 tons of wine annually.
The winery’s output has more than tripled since the 1990s, to around 15,000 tonne.
The wine industry is also looking to export, said Estebany Guadalupe, director of the Argentina Institute for Sustainable Agriculture and Natural Resources, or AISA.
She said the program could help Argentina export more of its wines overseas.
In 2013, Argentina exported more than 3 million tons of its wine and a third of its grapes, according the National Statistics Institute.
The average volume exported per year is about 2.6 million tons.
But it is also facing major challenges.
It is experiencing severe drought and rising water shortages, which have contributed to an economic collapse.
The government is planning to cut the size of the government’s official wine industry by 20 percent by 2020.
It has also struggled with high prices, especially in the southern and Central provinces, which are heavily populated by poor and working-class people.
Many Argentinas have fled the country for their lives, while others have gone abroad to find work.
But the country is also struggling to recover from the devastating drought and has been forced to turn to imports.
Argentina’s government has been struggling to keep up with rising demand for its products.
Last year, exports to China totaled $12.3 billion.
The world’s fifth-largest wine producer is also suffering from a surge in demand from China, which has been importing most of its grape production since the 1980s.
In December, the Chinese government approved the first-ever international trade deal between the two countries, and in March, Argentina signed a deal with China’s state-owned food and pharmaceutical giant to sell wine from its wineries.
The deal has led to increased demand for Argentina’s exports to both China and China, where imports have surged.