Chile and its great moment for foreign investment
Published: December 1, 2010
The undersecretary of Treasure, Rodrigo Alvarez, invited a Spanish businessmen to invest in Chile during the "great moment" its economy is experiencing and the challenges of the current administration.
Chile wants to be an "investment platform" and Santiago a "financial gateway" for South America. This explains the reforms made to its capital market, said the Chilean undersecretary of Treasure, Rodrigo Álvarez, in Madrid, where he arrived to promote Spanish investment in Chile.
"We believe that there is room for plenty of investment and that it is a great moment to go to Chile, for example, to be part of the reconstruction plan" carried out after the earthquake early this year.
The undersecretary mentioned that he had the opportunity of promoting the investment in Chile to more than 200 businessmen in the Business Institute in Madrid and that he met the Spanish State Secretary of Treasure, Carlos Ocaña, and other authorities of the tax system this country.
The presentation in front of the Spanish businessmen "was focused in the explanation of what we are currently doing in Chile, the reforms that will be implemented during the new Government that assumed command last March 11 and over the macroeconomic situation of the country", explained Álvarez to Efe.
"He specified that in general, there is a large presence of Spanish Investment in Chile. It is the second most important investment and we have realized the great Spanish interest in specifically going to our country.
In order to do so, he emphasized, "that a series of elements of the legislation is being modified regarding the stock market and the Chilean tax regulation, not only to improve the productivity but to attract of more investment".
He also quoted the effort involved in the reconstruction of the damaged caused by the earthquake that occurred in Chile last February 26 and the enormous investment required to normalize the situation.
Álvarez also highlighted the great Spanish interest "in the possibility of investment in Chile in the new technology and non-conventional renewable energy sector, where there is still a lack of an enormous effort in its development.
"I think that in this matters there is large room for Spanish investment, as well as in the fields where they have already participated, such as the infrastructure and public works", he added.
Also, Álvarez specified, that the Chilean regulation that controls the foreign investment "is exceptionally safe and provides warranties to investors all over the world to carry out projects in Chile and from there to other countries".
The Chilean Undersecretary of Treasure expressed that in one of his meetings with the Spanish businessmen he tried to "transfer the idea of the challenges that are currently present in Chile, as the first country to obtain a full development state in South America and to overcome poverty, specially about overcoming poverty".
He insisted that this is "one of the largest commitments of the Government of President Sebastian Piñera", who "has boosted an economy where the growth rate that must be higher than 6 percent in the next four years and to generate 200.000 jobs annually".
All of this is included "in the strategic framework to obtain a development state to overcome poverty and to make Chile one of the first countries in South America or the firsts", he wished.