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Chile does not use utilize subsidies to support business activities or attract investment. However, any investor, local or foreign, can access incentives for investments in specific areas of the country- remote regions that suffer from the decline of key industries- or for new sectors.
In that sense, the Chilean government looks to position Chile as a platform of business intensive in technology, for which a series of credit lines, subsidies, and bonuses are generated and channeled through the Corporación de Fomento (Corfo, economic development agency). It was in support of this objective that the InvestChile program was launched under the sponsorship of the Ministerio de Economía (Department of Commerce) and in coordination with the Comité de Inversiones Extranjeras (CIE) (Committee of Foreign Investments).
A National Cluster Program has also begun to develop, with the objective of propelling innovation and strengthen the sectors with high growth potential. The first five clusters are in the areas serviCes, food, mining, special interest tourism, and agriculture.
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