The development of innovative products and the promotion of the technology industry were the main topics of a meeting between the Minister of Economy, Economic Development and Tourism, Luis Felipe Céspedes, the director of InvestChile, Carlos Álvarez, and representatives of Synopsys Inc., a leading US developer of specialist software for the design of complex integrated circuits.

The company, which is celebrating the tenth anniversary of its High Technology Research & Development Center in Chile, expressed its appreciation for the support of the government’s Economic Development Agency (CORFO) and the business opportunities in the country.

For his part, Minister Céspedes noted that while Chile offers one of the best R&D tax incentives among OECD countries it has one of the lowest levels of investment in the sector. As a result, he said initiatives such as the Intelligent Industry Strategic Program are being promoted that seek to foster the digital transformation of productive sectors, which is key to improve international competitiveness.

Source: Ministry of Economy