Despite global uncertainty
Foreign direct investment in Chile at record highs
FDI reaches US$17,758 million in the third quarter of 2012, an increase of nearly 63 percent from last year’s record setting figure.
Wednesday, November 28, 2012
Foreign direct investment (FDI) in Chile has set a new historic high, reaching a figure of US$17,758 million in the third quarter of 2012. That’s an increase of 62.7 percent on the US$10,913 million registered in the same period in 2011, according to figures by the Banco Central de Chile.
Furthermore, the central bank’s figures indicated that FDI in Chile had already surpassed the then historic figure of US$17,299 million, set over the entire year of 2011.
Of the total, 49.7 percent, or US$8.829 million, corresponded to investment in utilities, 26.5 percent (US$4,711 million) pertained to equity shares, and 23.8 percent ($US4,218 million) was directed toward debt instruments.
“We have to continue following on the same path that this country is on to maintain this climate of investment,” said Economic Minister Pablo Longueira.
“This historic record is not just a great statistic, it is the result of a huge effort that has produced the highest levels of employment generation, adoption of technology, training all of our citizens,” Longueira said. “This result places Chile as an example for the region; an excellent place to invest, especially in times of international economic instability, and this makes us very proud.”
Matías Mori, Vice Executive President of the Comité de Inversiones Extranjeras, which is responsible for monitoring FDI in Chile, also highlighted Chile’s role as a safe bet in uncertain times.
“The flow of capital that is entering this country and the high percentage of reinvestment in utilities are clear demonstrations of the confidence that exists of the direction of our economy, even in times of crisis,” said Mori.
Chile is regarded as the easiest country to do business with in South America, according to major international rating agencies such as Moody’s and the World Bank, while Standard & Poor’s awarded Chile an A+ for investment in May 2012.