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InvestChile portfolio of projects grows by 31% in 2019

21 January, 2020
  • The portfolio of projects supported by the Agency – which are at different stages of development – reached a value of US$18,448 million. China emerged as the principal origin of the portfolio, accounting for projects worth US$4,852 million, up by 167% on 2018.

InvestChile, the Foreign Investment Promotion Agency, closed 2019 with a 31% increase in the potential investment represented by its project portfolio, which reached US$18,448 million. The projects – which are at different stages of development – also increased in number, from 277 initiatives in 2018 to 413 in 2019, equivalent to an annual increase of 51%.

The number of jobs that the projects would create increased to 17,631, up by 18% on 2018 (14,998 potential jobs as of end-year). Out of this total, 7,591 jobs were already created in 2019.

The Minister of Economy, Lucas Palacios, stressed the importance of InvestChile’s work for the ongoing growth of foreign investment in Chile, with the resulting creation of more jobs and business opportunities for small and mid-sized enterprises. “Foreign investment is one of the pillars of our economy’s growth and, precisely, this growth is fundamental for the future of our families and our country. Each investment has a deep social significance because, behind it, there are new jobs and, behind each new job, a family that progresses,” said Minister Palacios.

The director of InvestChile, Cristián Rodríguez, noted that the increase in the value of the portfolio and in the number of projects is a reflection of the proactive support strategy implemented by the Agency. “We will continue working to attract foreign investment that has an impact, is in line with the country’s needs, and involves projects that contribute to Chile’s development,” he said.

China emerged as the main origin of the Agency’s portfolio in terms of value, with projects for US$4,852 million, up by 167% on 2018. The number of projects from China also increased by 55% and, at the end of the year, totaled 31 initiatives. China was followed by the United States, with projects for US$3,439 million, and Canada, with projects for US$2,866 million.

The most important sector in the portfolio was energy, which accounted for potential investment of US$6,555 million, up by 65% on 2018, followed by mining and suppliers, with US$5,149 million, and global services, with US$2,472 million. There was a particularly marked increase in potential investment in the food industry, which increased by 83% in 2019 to US$1,622 million.