Weekly Report - 26 July 2018 (WR-18-29)

CHILE | FDI recovery. Foreign direct investment (FDI) in Chile is recovering, according to InvestChile, the government agency responsible for promoting Chile in the global market as a destination for FDI. In a press release issued on 11 July, InvestChile cites figures from Chile’s central bank (BCCh) which show that FDI worth US$8.48bn entered the country in the first four months of 2018, up by 655% on the same period in 2017. According to the same press release, this was also the highest amount ever for this period since comparable records began (2003) and exceeds the FDI that entered the country during the whole of last year (US$6.44bn) by 24.3%. At US$4.24bn, reinvested profits were the most important component of the inflow. They were followed by equity, which reached a net US$2.34bn and debt which accounted for US$1.89bn. The same press release notes that one of President Sebastián Piñera’s main promises is a recovery of investment, and since taking office in March 2018 he has launched an office for sustainable project management (GPS) which aims to reduce all obstacles and excessive bureaucracy involved in promoting investments. The GPS has a list of over 200 projects at different stages of development which, if approved, would represent investment of more than US$62.bn in 2018-2021.

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