Foreign investment in Chile rose by 76% in first half of this yearPublished: October 2, 2009
It was the largest amount for the period since 2004, when the total investment amount totaled US $3.1billion, stated the report from the Foreign Investment Committee. The largest investment in the first half of this year was from Wal-Mart, which totaled US $2.4 billion.
The Ministry of Economy's Foreign Investment Committee stated that foreign investment in Chile during the first half of 2009 totaled US $2.7 billion. This total was 76.6% higher than the total from the same period last year.
"This positive trend strengthens Chile's image for investors, in terms of confidence and security," said Executive Vice President of the Committee, Liliana Macchiavello.
The sectors which had the highest amounts invested between January and June 2009 were services (US $2.4 billion, equivalent to 89.1% of the total), electricity, gas and water (US $179 million, 6.6%), industry (1,4%), transportation and communications (1.4%) and mining (1.3%).
The primary source of these investments was the United States (US $2.1 billion, equivalent to 79% of the total), followed by Norway (US $289 million, 10.7%) and Australia (US $119 million, 4.4%).
One of the most important investments during the first half of 2009 was the acquisition of D&S by Wal-Mart (United States), in the commercial sector.
Regarding the location of the investments made in the first half of 2009, 80.6% were multi-regional investments, 10% were in the Metropolitan Region and 6.4% were in the Libertador General Bernardo O´Higgins region.
Main Investment InitiativesIn the financial services sector, the main investment was from the Norwegian bank DnB Nor Bank. In the electricity, gas and water sector there were a series of investment projects from companies such as Pacific Hydro, SN Power and ETC Holdings.
Additionally, there were significant investment increases by Telmex (Mexico) in the communication industry, Danone (France) in the food industry and Bureau Veritas in the mining services industry.
Liliana Macchiavello noted that one fact worth pointing out is the diversity of the sectors in which the investments were realized over the first half of the year. She added that, "we have trade, electricity, gas and water, communications, food, transportation, business and mining services as well as investment funds and venture capital. There is no doubt that all of these investments will help increase employment and revive the economy, particularly in regions such as Bernardo O'Higgins and Bio Bio where there are several initiatives in development".
Source:
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