March 11, 2021
Investment

Economy Minister highlights foreign investment in Chile: “We ended 2020 with 14.7% more projects than in 2019.”

Economy Minister highlights foreign investment in Chile: “We ended 2020 with 14.7% more projects than in 2019.”
The minister participated in the conference “Accessing Innovation to Reopen APEC Trade and Markets,” which was also attended by ministers from Canada and New Zealand. During the event, he highlighted Chile’s vaccination rollout, the help that the government has provided in response to the crisis and the interest shown by various foreign companies in investing in the country.

Economy, Development and Tourism Minister Lucas Palacios participated in the meeting organized by the APEC Business Advisory Council “Accessing Innovation to Reopen APEC Trade and Markets”, during which he highlighted the work of InvestChile in regard to attracting foreign investment, Chile’s vaccination process and the help that the government has provided to individuals impacted by the coronavirus pandemic.

During his presentation, Minister Palacios explained that investment in projects worth over US$100 million has increased by 14.3% compared to 2019. He added that the year 2020 ended with 234 projects compared to the 204 submitted in 2019, which also reflects substantial growth and companies’ interest in investing in Chile.

“We will receive over US$4.5 billion in investments from world-class technology firms over the next five years. This is due to Chile’s potential for generating new business in foodtech, energy, and technology, which have been fundamental during this pandemic. It is also related to the fact that these entities found in Chile the perfect partner for the development of new business,” Minister Palacios stated.

He added that Chile’s vaccination rollout has been a very important element in attracting foreign investment. He noted that according to Our World in Data, Chile had the fastest vaccination rate per 100 inhabitants in the world over the last seven days, and that 22% of the population has received one dose to date.

Another important aspect that Minister Palacios mentioned is the assistance provided to help companies survive the pandemic and create the conditions that will allow Chile to continue to be attractive in the area of investment.

The meeting was also attended by APEC Business Advisory Council (ABAC) Chair Rachel Taulelei; ABAC Digital Working Chair Jan de Silva; New Zealand Minister of Commerce and Consumer Affairs and Minister for the Digital Economy and Communications David Clark; and Canadian Minister of Small Business, Export Promotion and International Trade Mary Ng.