According to InvestChile, the agency responsible for promoting foreign investment, there are currently 493 projects in various stages of development in their portfolio. These projects amount to a total value of US $27.9 billion, which is a 12.6% increase from the same period last year. The number of projects in their portfolio has also grown from 453 in the first half of 2022 to 493 as of June 2022, indicating an 8.8% annual growth. Additionally, the projected number of jobs associated with these projects has increased from 17,578 in June 2022 to 18,381, a 4.6% increase.
InvestChile Director Karla Flores remarked that several factors explain the expansion of the investment project portfolio. However, the most important is that foreign companies see Chile as a safe destination to undertake new projects and expand their existing operations. “Today, our country is particularly well-positioned to offer investment opportunities critical to the global challenges of decarbonization and digital revolution,” said Flores.
There are currently 97 portfolio projects in progress that are contributing US $14.4 billion in investment and creating over 6,100 new jobs for the economy. Compared to the first half of 2022, investments have increased by 36.5% with 24.4% more projects currently underway, resulting in a 60.3% increase in employment opportunities.
Energy Leads Projects
In terms of portfolio, the energy sector had the highest lead with 98 projects that amounted to a total of US $12.35 billion. Following closely behind was the global services and technology sector, with US $5.6 billion, followed by mining and mining suppliers with US $5.1 billion.
“It is no mystery that Chile leads the region and is an international benchmark in the clean energy sector. While it is true that the industry has been facing significant challenges recently, the interest shown by foreign companies has not diminished,” remarked InvestChile’s Director on the growth of energy-related projects. She added that foreign energy investors “received as very good news” the submission of the energy transition bill, which would modify the General Electric Services Law and position electricity transmission as an enabling sector for carbon neutrality.
The United States tops the list of countries in the project portfolio with 131 projects, amounting to a total of US $6.6 billion. Coming in second is China, with initiatives worth US$4.6 billion, followed by Canada, with projects totaling US $2.8 billion.
“We are working with demanding targets to keep the portfolio growing, as reflected in the number of projects entered during the period. This figure represents efforts by our team and the result of ‘smart’ promotion strategies involving advanced digital marketing techniques and the fortification of our strategy and competitive intelligence units. We expect to close this year with good news for the country,” concluded Flores.
