Chiles Foreign investment up 73% in the first nine months of the year

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InvestChile Managing Director Andrés Rodríguez highlighted that the US$13.8 billion registered between January and September is 62% higher than the amount received during the whole of 2020.

Significant foreign direct investment (FDI) figures have been recorded for Chile in the first nine months of the year. In the January-September period, the country received a total net flow of US$13.8 billion, which represents an increase of 73% compared to the same period in 2020.

The Chilean Central Bank revised and decreased the numbers submitted at the start of the month but despite this, the FDI in the country maintains its annual increase: the revised number of US$13,840 million remains one of the highest in the historic series, 55% higher than the average for the last five years and 27% higher than the average for the 2003-2021 series. Specifically, the update implied a decrease of US$1,534 million in the accumulated FDI through September in comparison to the original number of US$15,374 million, mainly due to a US$1,315 million decrease in reinvested profits.

“When we talk about foreign direct investment, rather than focusing on the behaviour in a particular month, we need to look at the evolution over the entire year which, in this case, has been positive. The cumulative FDI as of the third quarter is the fifth-highest figure since records began and 62% higher than the amount registered for the entire year of 2020,” explained InvestChile Managing Director Andrés Rodríguez. “It should be noted that normally at this time of year there are outflows of foreign currency because many companies send part of their profits to their headquarters – which partly explains the change in flow,” he added.

“Aside from the numbers, we at InvestChile are continuing to work hard to increase the quantity and quality of foreign investment. In October, we visited the United States to meet with tech companies in order to accelerate their establishment or expansion in Chile. And, in a few weeks, we will have a busy schedule in Europe, where we plan to promote Chile as a Latin American destination for doing business and investing, in sectors that range from green hydrogen to technological infrastructure,” Rodríguez stressed.

Source: InvestChile

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