Why Chile? 10 reasons why to invest in our countryAs CORFO's InvestChile we are responsible for the promotion and attraction of direct foreign investment to Chile. In order to do so, we promote and communicate the competitive strengths of the country as a location for foreign investment and investment opportunities. We support and facilitate the process of assessment, decision and materialization of your company in the country, by providing specialized services and incentives to the investment.
Since the beginning of its investment promotion in the year 2000, InvestChile has contributed to the materialization of over US$2.400 million in domestic and foreign investment, and the generation of over 40,000 new direct jobs. It is estimated that in average, the foreign investment is represents 43% of this total and in the specific case of 2010, foreign investment was 40%, making up for a total of US$143 million.
For this year, our goal is to contribute to the materialization of US$155 million in direct foreign investment, and the capture of new foreign projects that are evaluating Chile, with a committed investment value that we estimate at US$ 260 million.
Our goals are high, and it's because as a country, we know that there are very powerful reasons why those companies are evaluating to install their companies in Chile, and we have numbered these reasons from one to ten:
1. Chile has a dynamic economy, with an annual growth percentage of 5.5%, the highest in Latin America. We are also one of the countries with the highest annual growth worldwide, and we are between the most dynamic economies in the world.
2. Chile is a highly competitive country, in fact, we are in the 30th position out of 139 countries in the competitiveness ranking of the World Economic Forum and we are the most competitive economy in Latin America.
3. We are integrated to the world, boasting more than 20 free trade agreements with 58 countries, which represent 90% of the world's GDP. Likewise, we are the gateway to Latin America from the Asia-Pacific and the first country member of the OECD in the region. 4. We have the lowest country risk; we have economic stability and a strong monetary discipline. We have been qualified as A+ by the Standard & Poor's 2010, with an A+ in the Fitch Ratings 2011 and Aa3 in the Moody's 2010.
5. Chile has a friendly tax environment with a 17% tax rate regime. Exceptionally and due to the earthquake that occurred on February 2010, today this rate is at 20%. For the year 2012 it will decrease to 18.5% and will go back to 17% at the beginning of 2013. Also, we maintain active bilateral agreements with 22 countries among them we can find Spain, United Kingdom, France and Poland, to avoid double taxation. We are currently under negotiation for a treaty with the United States. Likewise, in order to boost the investigation and development, our country has tax benefits for these activities; as well as the tax advantages and exemptions in certain regions of the country.
6. We are one of the most transparent economies, we are number 1 in Latin America, according to the corruption perception index and in the 21st place worldwide out of 178 country.
7. As a country, we have the best investment environment and wide economic freedom, positioning ourselves in the 10th place worldwide and number 1 in Latin America, according to the Economic Freedom Index 2010. Also, we are first place as the best environment to carry out business deals and in the 15th place worldwide according to the Economist Intelligence Unit 2010.
8. Chile has an excellent quality of life; we are in the 71st place out of 194 countries in the Quality of Life Index 2010.
9. You can find highly qualified and competitive worldwide labor force in Chile we are in the first place in the Latin America Talent Index Ranking in regards to availability of work force.
10. We have modern transportation infrastructure and connectivity integrated to the world, with state of the art telecommunications and logistic networks that enable business with a world class digital network. We also have 18 international airlines with 80 thousand operations per year, 37 airports and airfields and ports that move 90% of the commercial trade of the country.
With these advantages, we have all the conditions for those that see Latin America as their next stop, and especifically Chile, where we offer the features of a developed country, but at the cost of a developing nation.
As Corfo's InvestChile, we want to contribute to make Chile a regional pole for innovation and entrepreneurship, emulating the case of Singapore in Asia. We also know that by taking on this task, we are a key piece in the competitive boost of our country and that is where we are headed.