The announcement was made as part of the official visit to celebrate the 120th anniversary of diplomatic relations between Chile and Japan.

Tokyo, October 18 – Chile marked a new milestone in the attraction of Asian investment yesterday when InvestChile opened its first office in the region. From the office in Tokyo, Japan, the agency will be able to offer personal attention across South-East Asia. The announcement was made as part of an official visit, led by former President Eduardo Frei, the Director of Chile’s International Economic Relations, Paulina Nazal, and the Director of InvestChile, Carlos Álvarez, to celebrate the 120th anniversary of diplomatic relations between Chile and Japan.

Japan is Chile’s principal source of Asian investment and accounted for an inflow of US$5,717 million between 2009 and 2015, equivalent to some 4% of total foreign direct investment (FDI) in Chile during that period. Over 60 Japanese companies currently have operations in Chile and some have been present there for decades.

“Japan has a diversified and very sophisticated economy. From our standpoint, it is an extremely interesting market since it has companies with a key role in sectors that are strategic for Chile,” said Carlos Álvarez.

The director of InvestChile also pointed out that Chile is changing its approach to investment attraction, moving from merely receiving FDI, centered principally on raw materials, to a proactive strategy of attracting investment in sectors and areas with high value added.

“As an important financial center and the world capital of technology, Tokyo offers an ideal fit with this sophistication of our investment matrix. The choice of Japan for InvestChile’s first office in Asia reflects our country’s intention of serving as the port of entry into Latin America for the world’s most sophisticated companies,” added Álvarez.

Chile is one of the leading destinations for FDI in Latin America where it stands out for its business climate. It has led the region in the World Economic Forum’s competitiveness ranking since the launch of this index and, at US$24,797, its per capita income in PPP terms is the highest in the region. Chile also produces two-thirds of the region’s solar energy and, with its record mobile internet penetration and, at 33%, the highest percentage of netizens in the world, it is considered a natural laboratory for testing new technologies and applications.

The only South American country to be a member of the OECD, Chile has 17 million inhabitants. However, thanks to the world’s largest network of trade agreements which, through 26 agreements, covers 64 economies, it has a market of 4.3 billion consumers around the world.

Work on the ground

Vicente Pinto has been appointed as Chile’s first investment attaché in Asia, based in Tokyo. Vicente holds an undergraduate degree in Agricultural Science from the University of Chile and an MBA from the Austral University of Chile. He has experience in international business and business in Chile, in both the private and public sectors. Between 2010 and 2014, he served as Agricultural, Fishing, and Food Industry Attaché at the Chilean Embassy in Japan.

The new Investment Promotion Office, like others, will offer potential investors services that include general information about Chile’s advantages, specialized sector-specific advice, legal information about setting up a business in Chile, general and sector-specific statistical data, the organization of field visits and meetings, and coordination with other government bodies in Chile.

For further information, visit dev.investchile.gob.cl/japan