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Record number of lithium and technology projects and announcements at VII International InvestChile Forum

17 May, 2024
  • President Gabriel Boric announced initiatives from ENAMI, CORFO, and the Science and Energy ministries. The event attracted more than 100 foreign companies with 60 investment projects worth US$9 billion.

President Gabriel Boric has made a series of announcements on lithium and technology at the VII International InvestChile Forum 2024. The forum is the largest foreign investment promotion event yet organized in Chile, and the president emphasized the high level of interest from multinational companies in developing their projects in the country.

«We have incredible opportunities in Chile, and foreign investment has taken note. The fact that in 2023 we have attracted a record amount of foreign direct investment worth more than US$21.7 billion, the highest figure since 2015, shows that foreign companies trust our country. Because we have clear rules, solid institutions, and because a democratic Chile is capable of solving its problems with more democracy, not less,» he stated.

The president was accompanied by the ministers of Economy, Development and Tourism; Treasury; Foreign Affairs; Public Works; Mining; Energy; and Science, Technology, Knowledge and Innovation; as well as the executive vice president of the Chilean Economic Development Agency (CORFO), José Miguel Benavente; the executive vice president of the National Mining Corporation (ENAMI), Iván Mlynarz; and the director of InvestChile, Karla Flores. During his speech, the president highlighted the progress made in economic growth, and announced a series of foreign investment opportunities.

Lithium and technology

The president also announced that, in the next few months, CORFO will make a second call for applications to select specialized lithium producers to develop value-added initiatives in Chile. In addition, during the forum ENAMI initiated an open call to express interest in partnering with the company to develop, operate and finance the Salares Altoandinos lithium project.

In the digital sector, the Science, Technology, Knowledge and Innovation Ministry will present the National Data Center Plan during the second half of the year. Chile is already home to 22 data centers, and we expect the arrival of 28 more.

This plan will be prepared with the participation of the industry, civil society, public organizations and local governments. It will provide guidelines to generate agreements between the State and the private sector to boost investment, promote technological development and ensure that investment in data centers is environmentally responsible.

The president also announced that the Digital Talent initiative will be expanded to reach 50,000 graduates in the next three years.  «I am convinced that our country can grow more (…) We have all the conditions to take a leap and return to a path of firm growth with social justice, because growth has to go hand in hand with a fairer distribution of wealth,» the president stated. He added,  «I invite you to be optimistic about Chile and its future; to believe and invest in Chile.»

Record numbers

Economy, Development and Tourism Minister Nicolás Grau assured that  «our country has received a lot of interest. There is a desire to invest in Chile, and our task as ministers is to accelerate that desire, take that opportunity, carry out these policies and achieve this public-private partnership that would allow for greater development in our country.»

The director of InvestChile, Karla Flores, meanwhile, highlighted that  «Chile is in a privileged position to offer investment opportunities that are key to global challenges. The invitation is to trust, invest, stay and grow together.» She stated that the forum marks a record for an event of this type, with the participation of more than one hundred companies from 28 countries, participating with 60 projects worth US$9 billion, associated with 3,000 permanent jobs.

The VII International InvestChile Forum continues this afternoon with breakout sessions focused on the Lithium Industry; Technological and Digital Infrastructure; Infrastructure Concessions; and Clean Energy and Storage. This Friday, a matchmaking session will also be held, where international companies will hold nearly 200 meetings with local companies and public organizations.