Direct foreign capital invested in Chile’s economy grew by 17 percent in 2010, reaching $US 15 billion and boosting the country’s global standing.
Santiago, Chile's capital and financial center. (Photo: Chönóphotos!/Flickr)
Chile received US$15 billion in direct foreign investment last year, placing it among the top 20 destinations for global capital.
The Chilean economy occupied 19th position on the United Nations Conference in Trade and Development's (UNCTAD) annual Direct Foreign Investment ranking, up seven places from the previous year.
Globally foreign investment increased by five percent in 2010 but the growth rate in Chile was a staggering 17 percent, placing it ahead of all Latin American nations except Mexico and Brazil.
“These excellent results confirm the successful path of our country when it comes to attracting investment and it cements our place among the most attractive destinations for investment in our region and in the world,” the vice president of the Chilean Government's Foreign Investment Committee, Matías Mori, told La Tercera.
“It also strengthens the trust of the foreign investors who have participated in Chilean projects.”
According to the UNCTAD report, the bulk of new foreign capital in South America is coming from Asia.
However Mori said Chile is trying to attract more Asian investors to its economy.
“We are working proactively to increase Asian investment in Chile,” he told La Tercera.
“To this end, we have translated our website and publications targeted at China into Chinese. We have also created a China Desk with Chinese staff to attend to the needs of investors from that country in their own language.”