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Investing in Chile has hit an historic record in 2021, with $13.72 billion of foreign direct investment (FDI) entering the country in the first six months of the year — a 66% increase on the same period last year.
This figue is far greater than the $8.23 trillion that entered the country in 2020. It represents the highest level ever recorded in FDI in six months since 2003, when current recording methods were first used (all figures in USD).
The record was announced by Chile’s central bank and offers just the latest sign that the South American country is firmly on the path to recovery following the economic turmoil caused by the global pandemic.
“This is one more indicator of the dynamism and good projections of our economy at all levels,” Lucas Palacios, Chile’s minister of economy was quoted as saying.
Palacios says that analysis does not show that growth was driven by any particular sector but is indicative of a general trend towards recovery and growing interest in Chilean investing.
SEE ALSO Starting a Business in Chile: Some Considerations
Notably, this new record for Chilean investment in Chile over a six-month period is 92% more than the average over the past five year and 98% higher that the average for the entire period 2003-2021 of modern recording methods.
According to Andrés Rodríguez, director of the country’s official investment promotion agency InvestChile, “this is a clear sign that the activity of foreign investors in Chile is going through an extraordinary moment, despite the pandemic.”
Chilean economy recovers to break another record
Chile is making strides towards recovery with news of Chilean investors hitting a historic high.
It was announced earlier this month that Chile would be acquiring the rights to the land. had broken its year-on-year monthly economic growth recordFor the second consecutive month, June 2021 saw growth of 20.1% more than the same month last year.
This was the highest annual month-on-year record for monthly growth since 1986. It also represented a 2.1% increase in record set in May.
Investor confidence in this highly-developed market will be boosted by the announcement of FDI in Chile reaching a new record.
Chilean investors are very popular with foreign companies
Chile’s popularity as a place to invest has made it one of the most dynamically growing economies in Latin America in recent decades.
A pro-business outlook is key to success one of the highest level of economic freedom in the worldThe country has been a popular destination to invest in foreign capital for a long time. With Chile’s historic highs for investment, the future outlook is brighter.
Chile is known for its mining industry, which has rich deposits of copper gems and precious metals. It is also known as a global beacon for free trade, thanks to its rich deposits of copper, gems and precious metals. large portfolio of free trade agreements(FTAs) provide local businesses with preferential access in key markets around the world.
The country is a founding member and promoter of regional integration. the Pacific Alliance — a 10-year old economic associationThis includes Colombia, Mexico, Peru and has ambitions for expansion beyond the region.
In the meantime, ongoing talks for an FTA with Paraguayrepresent the final step towards Chile’s free trade agreements. Southern Common Market (Mercosur), another important regional integration effort that includes Argentina and Brazil as well as Uruguay.
All of these factors combine to make Chile an attractive option for foreign corporations.
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Biz Latin Hub’s multilingual team of corporate support experts is available to assist you in investing in Chile. Our extensive portfolio of back-office services includes company formationWe can handle all aspects of your business, including legal, accounting, recruitment, visa processing, and payroll. This also means that we are well-equipped to oversee multi-jurisdictional markets launches throughout the region.
Contact us todayWe would love to help you with your business.
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