In the webinar “Chile’s Economic Outlook 2021 and Pro-Investment Measures”, the Minister highlighted the role of foreign companies in Chile’s economic recovery.

Over 500 representatives of companies, chambers of commerce and public institutions from all over the world tuned past Thursday for the webinar “Chile’s Economic Outlook 2021 and Pro-Investment Measures”, which was organized by InvestChile in conjunction with the Economy, Development and Tourism Ministry.

The virtual event was chaired by Economy Minister Lucas Palacios. It focused on a discussion of the current economic context and its challenges, as well as the government’s specific plans for stimulating investment at a time when the pandemic continues to affect the global economy.

Minister Palacios explained that foreign investment will play an important role in Chile’s economic recovery, both in terms of stimulating activity and in recovering jobs lost during the pandemic. “In order to create new jobs, we are seeking to stimulate efforts from the private sector and investment,” said the Minister.

“I am asking everyone who makes investment decisions to have confidence in Chile. Chile wasn’t born yesterday but in fact has a long history that we have built together. The decisions you make will be a fundamental pillar in our recovery. I’m asking you have an optimistic outlook for Chile,” he said.

In order to attract more foreign investment to Chile, InvestChile has released five new e-books with projections and opportunities in the energy, mining, food, global services and venture capital industries. These have been designed to facilitate foreign companies in their decision-making process. The e-books can be downloaded for free from the website dev.investchile.gob.cl.

“Foreign investment will play a fundamental role in Chile’s economic reactivation. At InvestChile, we’re committed to attracting more and better investments in order to create more jobs that will benefit each and every person living in Chile,” explained InvestChile Managing Director Andrés Rodríguez Rowe.

Foreign companies: an optimistic outlook

The CEO of the Chilean branch of the US firm Oracle, Soledad Matos, and the General Manager of French company Michelin’s branch in Chile, Guillermo Crevatin, also participated in the webinar. The two executives discussed their views on the country’s economic outlook, underlined the opportunities that Chile continues to offer and were positive about the development of new initiatives.

“We’re confident that we will grow, consolidate and do ever more business in this country,” said Crevatin. His company recently announced that it will be setting up its first mining tire recycling plant this year in Antofagasta, which will be a world-first for Michelin. Soledad Matos added, “we are also very optimistic. Amid this crisis, there are some real opportunities for tech companies. The cloud market is very explosive as businesses are starting to require these new technologies.”

It should be noted that US-based company Oracle, one of the world’s most important tech companies, is developing a “Cloud Region” in Chile. This will be the second of its kind in Latin America and will also provide services to Argentina, Peru, Uruguay, Paraguay and Bolivia. Both projects are supported by InvestChile.