The award highlights, among other factors, the work of the agency’s team, the service it offers companies during and after the implementation of their investment and the quality of the information it provides.

In its 2019 Global Best to Invest report, Site Selection, an international magazine, has recognized InvestChile as South America’s best investment promotion agency. The report is based on information provided by 1,000 investment experts from around the world, including principally executives responsible for their company’s decision-making.

This is the first time that a Chilean agency has received the prize since it began to be awarded 11 years ago. It takes into account factors such as an agency’s professionalism, preparedness, leadership and staff and having a team of professionals that is receptive to enquiries, having a reputation for protecting investor confidentiality and providing comprehensive services that include the post-investment period (aftercare).

Other matters that were considered when selecting the winners were knowledge of the subject and language diversity, the ease of availability of information on the timing of permits and other processes and a website that is easy to navigate and has an efficient, modern design.

The director of InvestChile, Cristián Rodríguez, thanked the magazine for the recognition, indicating that it reflects the work which all the members of the agency’s team undertake each day so that overseas companies choose Chile as the focus of their new projects and investments. “We are very happy to have received this recognition, which is a sign that the efforts Chile is making to attract foreign investment are of an outstanding level internationally and are on the right road,” said Rodríguez. He added that, in 2018, each dollar invested in the agency by the state generated US$342 in foreign direct investment for Chile, well above the average of US$189 for investment promotion agencies worldwide.

The award, which is divided by geographical area, also recognized Singapore’s EDB agency and Hong Kong’s InvestHK in Asia-Pacific; Germany Trade & Invest (GTAI) in Europe; Morocco’s Invest in Africa; and Invest in Israel and Dubai FDI in the Middle East, among other agencies.

The US-based magazine has more than 50,000 high-level subscribers, including company CEOs (26%), directors (16%) and owners (14%). According to its editors, its subscribers generate some 230 new investment projects each month, which are worth US$28,000 million and create more than 31,000 jobs.