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Minister Grau and InvestChile concluded their visit to Japan with more than 16 investment promotion activities

11 October, 2023
  • The delegation, which also includes InvestChile Director Karla Flores, will continue its Asian tour tomorrow in South Korea.

Following a series of activities in Tokyo, Chile’s Minister of Economy, Development, and Tourism, Nicolás Grau, and foreign Investment promotion agency InvestChile’s Director, Karla Flores, today concluded their visit to Japan, where they participated in more than 16 investment promotion events.

During the second day of their visit, the delegation—which also included the Investment Commissioner for Asia, Vicente Pinto, and the Chilean Ambassador to Japan, Ricardo Rojas—gave a presentation to 30 financial sector representatives at an event organized together with the Inter-American Development Bank’s (IDB) Japanese office and the Japan Institute for Overseas Investment (JOI).

At the event, they provided an overview of Chile’s economy and the new opportunities offered by the country, in addition to the Government’s main development policies.

The IDB’s representative in Japan, Hideharu Tanaka, noted that the presence of the Chilean delegation was highly attractive for Japanese investors and companies. «We see Chile as a ‘good neighbor’ across the Pacific Ocean, which has huge potential in renewable energy, lithium, green hydrogen, and other sectors. At the IDB, we are also committed to promoting collaboration between Japanese and Chilean startups. Overall, we see major potential for cooperation between both countries.»

The activities held during the morning included a meeting with senior executives from the Fund Corporation for the Overseas Development of Japan’s ICT and Postal Services (JICT), a public-private technology investment fund; a meeting with representatives of the IDB’s local office; and a discussion with the main editors of Bloomberg’s Japanese office.

Regarding the visit to Japan, Minister Grau noted that «it has been a very productive day, and we are continuing with a range of activities to promote foreign investment in Chile.» The minister also highlighted the opportunities offered by the Japanese market in terms of technology investment, saying, «I had the chance to speak with a Japanese investment bank that supports companies interested in ICT and digital infrastructure to reduce risks and find new markets. This bank doesn’t have a presence in Latin America, so it’s a great opportunity for our country.»

«I was also able to give a presentation to a group of banks on Chile’s development strategy, both in terms of more traditional opportunities such as copper and digital infrastructure, and also emerging opportunities related to lithium and green hydrogen, showcasing our country’s macroeconomic strength and the opportunities associated with these new industries,» he added.

Meanwhile, Karla Flores was pleased to have the opportunity to resume in-person activities in Asia, especially to promote sectors such as renewable energy, hydrogen, and lithium. «We have investment ties with Japan that we need to strengthen and deepen. It is an economy that offers the opportunity for transfer of knowledge and technology, which is very important to increase our country’s productivity, a key task to ensure that the benefits of economic development to reach all Chileans,» she said.

A relevant investor

Japan has a foreign direct investment stock of US$3.28 billion in Chile (2021)—accounting for 40.4% of investment in the country originating from Asia, according to Chile’s Central Bank—with a presence in the energy, mining, global services, and food sectors.

The country also has strong ties with InvestChile, which is currently supporting 14 projects developed by Japanese companies with a value of over US$1.30 billion.

The delegation will now visit the South Korean capital, Seoul, where it has scheduled 14 activities, including the seminar «20 years of the free trade agreement between Chile and South Korea: assessment and projections,» organized by the Korea Chamber of Commerce and Industry (KCCI) and Chilean Federation of Industry Sofofa, in addition to a seminar to promote lithium mining opportunities as part of Chile’s National Lithium Strategy.

From October 15, the delegation will take part in ChileWeek in China.

Check out the best images from the second day in Tokio: