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Tue April 13 2021

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Investment in Chile’s energy projects grows

4 Feb The portfolio of projects supported by the Chilean Investment Promotion Agency, InvestChile, grew last year by 23% to over US$21bn (£15bn), with energy leading the way.

Among the foreign investors who used the Chilean government agency’s services, energy was the sector in which they showed most interest. The value of energy projects was almost US$7.9bn, up by 20% on 2019. It was followed by mining and suppliers, with US $7.1bn (a 38% rise), and global services, with US$3.903bn (58%).

The United States was in top place in terms of the country of origin of the foreign investment supported by the agency, with projects for US$4.487bn. This represented an increase of 61% on 2019. Canada took second place, with US$4.084bn (a 42% increase) and China was in third place, with US$3.891bn, down by 20% on 2019.

InvestChile said that the number of projects - at different stages of development – in its portfolio closed the year at 495, compared to 413 in 2019.

Director Andrés Rodríguez said that it is important that overseas companies are continuing to choose Chile for their projects “since foreign investment will be crucial for the recovery of our economy and the creation of jobs in a post-pandemic scenario”.

“The contingency forced us to adapt our work and focus on supporting overseas companies already present in Chile to avoid the stoppage of their projects amid the restrictions due to the pandemic, without neglecting the international promotion we undertook remotely throughout the year, including our annual seminar held in November,” said Rodríguez.

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MPU
MPU

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