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With a focus on bilateral cooperation and investment promotion, Minister Grau and InvestChile initiated their visit to Germany

10 June, 2024
  • Chile’s Minister of Economy is participating in the presidential tour of Europe, where he will hold a series of meetings with local companies organized by the Foreign Investment Promotion Agency.

The presidential tour of Europe, which will include visits to Germany, Sweden, Switzerland, and France, was initiated today in Berlin. The Chilean delegation, including Minister of Economy, Nicolás Grau, and InvestChile Director, Karla Flores, arrived in Germany at around midday, with an agenda that was marked by the meeting between Chilean President, Gabriel Boric, and German Chancellor, Olaf Scholz.

“Today, we initiated this tour with an important meeting with the German Chancellor and his economic team. We were able to discuss how the National Lithium Strategy has opened major investment opportunities for German companies, with a focus on public-private coordination. We also spoke about the green hydrogen action plan, which is led by Minister of Energy, Diego Pardow. During the tour, we will have a lot of bilateral meetings with companies and participate in larger events. We’re sure that we will bring back good news for investment promotion in Chile, and with it better jobs, supply chain development, and technological transfer,” highlighted Grau.

Cooperation and training

In the afternoon, Salvatore Di Giovanni, Head of the Investment Promotion Division at InvestChile, participated together with José Miguel Benavente, Executive Vice-President of economic development agency CORFO, in a bilateral meeting with German development bank KfW, during which they provided information on the status of the facility for green hydrogen projects in which the bank is also a contributor. They also discussed opportunities in the industry and its outlook.

Meanwhile, InvestChile Director, Karla Flores, visited Haus der Deutschen Industrie, the headquarters of Germany’s Chamber of Commerce and Industry, where she participated in a roundtable together with the President of the Chilean Federation of Industry (SOFOFA), Rosario Navarro, the General Manager of the German-Chilean Chamber of Commerce (AHK), Cornelia Sonnenberg, and representatives of the German Chamber of Commerce and Industry (DIHK). The event, which was also attended by a Chilean business delegation, was focused on the dual education system (which enables the development of early technical education, associated with the employment profiles required by Chilean companies) that was implemented in Germany and is also operating in Chile.

“When we talk about foreign investment, we’re not just talking about figures, but also benefits for our people. Public-private cooperation and collaboration between the State and companies such as German companies generates a virtuous cycle that enables the transfer of knowledge and technology, and the implementation of best practices in our economy. These benefits also extend to training, ensuring that we have the right talent the address the industry’s challenges, which also provides growth opportunities for people,” said Flores.

Business event

On Tuesday, the Chilean-German Economic Forum: Strategic Partners for Global Challenges will be attended by the delegation, led by President Boric, and leading German companies. This major event was organized jointly by InvestChile, the Chilean Embassy to Germany, and Lateinamerikainitiative. Minister Grau will also lead a sectoral roundtable focused on opportunities in the lithium industry, in which more than 30 mining company representatives will participate.

It should be noted that on an aggregate level, the European Union is the largest investor in Chile, with a foreign direct investment stock of US$67 billion, which accounts for 25% of the investment that has entered the country.