• According to the Central Bank, US$7,834 million entered the country in the first ten months. The Economy Minister and InvestChile underscored the recovery of foreign investment.

A total of US$7,834 million entered the country in the form of foreign investment during the first ten months, according to provisional figures released by the Central Bank. This represented an increase of 25% on the same period last year and included equity for US$3,991 million, which was one of the highest figures in 15 years. Similarly, reinvested profits, at US$7,337 million, were up by 18%, reaching a five-year high.

In contrast to the increase in these components, lending related to foreign investment showed a drop of US$3,494 million in the first ten months, due to the repayment of overseas borrowing in June.

Foreign investment back on course

The Minister of Economy, Economic Development and Tourism, José Ramón Valente, drew attention to the figures, indicating that the recovery seen this year in foreign direct investment (FDI) is a good sign since “higher investment is synonymous with more jobs and more opportunities for all Chileans.” He added that “this shows that there is confidence in the future of our economy and in what the government of President Piñera is doing to get Chile moving.”

The director de InvestChile, Cristián Rodríguez, noted that “foreign investment is getting back on course after the drop we saw last year. Although the increase was muted by the repayment of lending, which is something specific, the overall picture tells us that the capacity to attract investment has recovered, led by reinvestment, which is a powerful sign of the confidence of overseas companies who are keeping their earnings in the country and, in many cases, developing new businesses.”

Rodríguez also pointed out that “in recent weeks, we have seen a series of announcements of important investments by overseas companies and they will certainly be reflected in the figures in the coming months. At InvestChile, we are working so that we have not only more investment but also better investment that implies the creation of new opportunities and better jobs.”

InvestChile, the Foreign Investment Promotion Agency, has announced that its International Investment Forum will take place in January 2019. Over 100 overseas companies with investment projects and interest in Chile are expected to attend this event.