December 5, 2019
Investment

Local authorities meet with overseas companies to evaluate measures to support SMEs

Local authorities meet with overseas companies to evaluate measures to support SMEs
During a conversation organized by Deloitte and the Foreign Investment Promotion Agency, Economy Minister Lucas Palacios underlined the importance of everyone helping to support the SMEs affected by acts of violence.

The Minister of Economy, Economic Development and Tourism, Lucas Palacios, met with representatives of large overseas companies this morning to analyze how they can support the SMEs affected by the violence of recent days. The meeting was organized by Deloitte and InvestChile.

As well as Minister Palacios, those present at the meeting included Enrique Ostalé, CEO of Walmart in Latam; Francisco Sardón, CEO of Scotiabank; Sergio Rademacher, CEO of Microsoft; Didier Santoja; CEO of Sodexo; Luis Zarauza, CEO of CGE; Chris Dechert; VP for South America at Teck; Josefa Monge, president of Sistema B; Cristián Mackenna, representative of G100, and Pablo Herrera, a partner at Deloitte. They were accompanied by the director of InvestChile, Cristián Rodríguez; the executive vice-president of CORFO, Pablo Terrazas, and the executive secretary of the Economy Ministry’s GPS Office, Juan José Obach.

Minister Palacios indicated that it is important that large companies participate in the support the government wants to offer SMEs, which are the driver of the economy because they account for half of all jobs in Chile.

“We must help SMEs to get back on their feet because they are essential for the recovery of our economy. As a government, we are implementing a number of measures so they can reactivate their businesses. Similarly, the support and commitment of large overseas companies are essential in this task,” said Minister Palacios.

The director of InvestChile, Cristián Rodríguez, reminded those present that foreign investment plays an important role in the SME world.

“Overseas companies contribute to supplier development through their higher quality requirements and by increasing demand; they generate market competition and transfer knowledge. Foreign companies are crucial for raising the standards of Chilean SMEs and transforming them into world-class suppliers,” said Rodríguez.