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Public Report: In 2017 InvestChile attracted projects equivalent to US$7,700 million and over 10,000 jobs

  • InvestChile’s Acting Director, Ian Frederick, highlighted that each dollar invested in the agency, it contributed US$110 to the country in foreign investment.

InvestChile’s acting director, Ian Frederick, indicated that in 2017 the Foreign Investment Promotion Agency  attracted 199 projects by international companies to its portfolio, equivalent to US$7,700 million and over 10,000 jobs. Thirty-one of these projects have already been implemented, representing an investment of over US$900 million and creating 2,369 jobs. The statement was made as part of the Institutional Public Account of the agency, which included the participation of the Minister of Economy, Development and Tourism, José Ramón Valente, and the presence of authorities and representatives of binational chambers and companies.

“For each dollar invested in InvestChile, it contributed US$110 to the country in foreign investment,” said Frederick, who added that the aim is to increase that figure in 2018.

He also pointed out that, in just 18 months, “we have established a modern proactive agency, based on best international practices, to attract investment that creates value for the country,” noting that bodies like the OECD and the IDB had provided advice on the InvestChile’s design.

Likewise, Minister Valente highlighted the role of InvestChile’s work together with the Economy Ministry’s recently created Office for Large Projects as well as the importance of coordination between the Agency and the network of ProChile as a means of improving and boosting the work of offices already established abroad. “The Economy Ministry’s Office for Large Projects will be a very important element for working together with the efforts of InvestChile,” he insisted.

It is noteworthy that in 2017 InvestChile opened its first overseas investment promotion offices in San FranciscoTokyo and Frankfurt. Also, over the course of the year, the Agency implemented 106 investment promotion activities in 19 countries as well as 25 activities to position Chile as a destination for foreign investment and recorded 1,366 appearances in online and traditional media, with a value of more than US$4 million, reaching over 471 million readers.

Its achievements also included the launch of a new digital platform, www.investchile.gob.cl, which was awarded a Government Standard of Excellence Prize in the Web Marketing Association’s WebAwards 2017.