American business magazine

Forbes places Chile among the 25 best countries for business

The newsmagazine highlighted the market oriented model, the high level of foreign trade and the prestige of its institutions.

Sunday, July 26, 2009  

Forbes ranked Chile as the 23rd best countries to do businesses in, in its 2009 special edition released in February 2009.

Chile is among the 25 most competitive countries in this fourth edition of the listing. Furthermore, it is the first Spanish-speaking country and the only Latin American country to appear in the top 50. Mexico placed 56th.

Denmark was awarded with first place for the second consecutive time, ahead of the United States, Canada, Singapore, New Zealand, The United Kingdom, Sweden, Australia, Hong Kong and Norway.

Forbes highlighted the Chilean market oriented model, its high level of foreign trade, the prestige of its financial institutions, as well as its policies that result in its good bond ratings.

The magazine reviewed the last 20 years of the national economical history and highlighted the extent of the progress by mentioning the 57 signed free trade agreements, such as the one with the United States in 2004, as well as the quadrupling of foreign investment during the last 5 years, raising to US$ 17,000 million in 2008.

Finally, the magazine mentioned the countercyclical fiscal policy of the Government that constricts the public spending in periods of prosperity and reactivates it during difficult times. It also mentioned the US$ 20,000,000 savings that the Government has abroad, independent of the Central Bank reserves.