These funds manage a combined total of more than US$2 trillion.

One of InvestChile’s primary areas of focus in 2021 is a new strategy to attract investment from the Middle East. This marks the first time the agency is prioritizing this market. The initiative includes a series of meetings with investment funds that together manage more than US$2 trillion.

The plan began with face-to-face meetings in Saudi Arabia and Qatar in late February, in which InvestChile Managing Director Andrés Rodríguez Rowe and International Economic Affairs Undersecretary Rodrigo Yáñez met with authorities and representatives from sovereign wealth funds, including the Public Investment Fund Program (PIF) and the Qatar Investment Authority (QIA), in order to stimulate business with those countries.

Following these initial meetings, the talks went to a second round, which started with a meeting with the Saudi Agricultural and Livestock Investment Company (SALIC), which belongs to the PIF fund.

Virtual meetings with Middle Eastern sovereign wealth funds will continue during April with the support of Chile’s Embassy in the United Arab Emirates. In the first two weeks of this month, InvestChile has already had conversations with the Investment Corporation of Dubai (ICD), the Kuwait Investment Authority (KIA), the Mubadala Investment Company, and the Abu Dhabi Investment Authority (ADIA) – which together manage assets worth over US$1.7 billion.

Similarly, the agency is holding a series of conversations with the Saudi Arabian Ministry of Investment, which is interested in achieving advances through joint work in areas such as mining, energy and food.

Source: El Mercurio.