If Chile wishes to respond to the diverse requirements of its inhabitants, it is obliged to grow, promoting foreign trade, the gross formation of fixed capital and attracting foreign direct investment (FDI).
Chileans have maintained a diversity of norms for many years, some already improved, which give full peace of mind and security for those who choose to establish their companies anywhere in its territory and / or acquire minority or majority stakes or purchase of local firms.
To the current legislation they must add a network of thirty free trade and investment agreements (FTA) that have subscribed with 65 nations scattered over the five continents whose population exceeds 5,000 million people and which together account for 88% of world GDP, in their contents the securities to foreign investors are reinforced, the same for the Chilean who came to invest where the counterpart.
Undoubtedly, the “TLC network” have been the engines in the spawn of countless businesses scattered in countless places located throughout the world, strengthening the diversification of shipments, have attracted capital and positioned the southern country in the international plane . The OECD points out that Chile has the most powerful network of Free Trade Agreements on earth.
The beginning was the first Partial Scope Agreement signed in 1991 with Argentina, starting the trade opening, “through the incorporation of Chile to the APEC, OECD and WTO forum, and to the Treaties with the largest economies in the world, including States. United States, China, the European Union, India, Japan and South Korea. More recently, our country has pioneered the development of an inclusive and modern trade policy, addressing issues such as digital commerce, the incorporation of SMEs and women into commerce and environmental issues. A sample of them is the new Digital Economy Partnership Agreement (DEPA) signed with New Zealand and Singapore “in the words of Subrei.
Chile has a network of 30 free trade and investment agreements with 65 nations spread over the five continents
Let’s say that these laws apply to natives and foreigners alike. What rights do they guarantee? The investment attraction agency InvestChile sums them up very well: the right to fair and equitable treatment; the right to receive the same treatment as national investors; the right to receive compensation in the event of expropriation measures, including indirect expropriation measures; the right to the free transfer of capital and the income that it originates; the right of recourse to an international court in the event of a dispute with the State (Washington Convention of 1965).
Here are some facts. The number of projects for amounts greater than 100 million dollars has grown by 14.3% in 2020 compared to 2019, we are talking about 234, this accounts not only for more business proposals, which is very good, but also confirms the disposition of foreign companies to settle in Chile. As of June 2021, the Sustainable Project Management Office (GPS) collected initiatives for 76,088 million dollars, an increase of 5.7% compared to December.
A few months ago we commented on the arrival of global class technology companies with the objective of investing around 4.5 billion dollars. Behind this amount are forays into the technology, stand out big datas, clean energy and food, giving rise to innumerable businesses that will have repercussions in the national territory and many will seek to expand to the rest of the region.
In the first five months of this 2021 between FDI and reinvestments materialized inflows exceeded $ 6 billion, which considering the current situation is a very interesting amount, we will see in the coming months how it continues to develop.
Helps and quite the vaccination process underway. The complete guideline set last February -two doses-, aimed to reach at least 80% of the population, over 15 million people, in order to achieve group immunity, which was achieved last Thursday, July 29, 2021. The positivity at the national level reached 2.14%, based on 57,330 PCR tests and 6,018 antigen tests performed in the last 24 hours. Great news! With everything, the authority maintains a freeway control especially with the arrivals of passengers from abroad an issue that affects both Chileans and travelers from other latitudes.
The number of projects with amounts greater than 100 million dollars has grown by 14.3% in 2020 compared to 2019
Opening the borders to the world in the 1990s was a unilateral action, with the FTAs it became bilateral and then plurilateral, boosting trade with the planet. National exports in 1960 represented 13% of GDP, at the end of 2020 they were close to 30%. A formidable change! Local exporters accounted for 7,600 in 2020, and accounted for 1.1 million jobs, 12% of the total workforce.
Chile is one of the oldest modern democracies and of course there are hard experiences throughout its young history as in any emerging nation, but what has been experienced in the last 31 years has been something extraordinary. from being one of the most backward in the 50/60, today it ranks at the top of the region and globally it is among the 35 most relevant economies out of more than 200.
It is true that this lived expansion has changed everything by improving infrastructures, communications and now digitization everywhere, emerging new needs that must be studied and addressed, would generate expenses for the State, particularly in areas such as education, health or the environment to name a few, essential to respond to more equality and increase in salaries and services to the community in general.
We consider it imperative to open lines of communication between representatives of society and reach agreements leaving out ideological and political tactics, the citizen expects results that make her life easier.