April 09, 2024 #ChileGlobal

Cumulative foreign investment in February increased by 28% annually

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According to InvestChile's analysis, the flow of investment reached US$ 3.58 billion in the first two months of the year.

The Central Bank reported this morning the figures for foreign direct investment (FDI) up to February. These showed that in the first two months of 2024 the country received a net flow of US$ 3,580 million. The amount represents an increase of 28% with respect to the same period of 2023, when US$ 2,805 million were received.

In February of this year alone, the registered FDI flow reached US$ 1,641 million. According to InvestChile's analysis, the accumulated figure is 21% higher than the average of the 2003-2024 series for the same period.

The most important component of the accumulated FDI flow is reinvested earnings with US$2,701 million. This is followed by related debt with US$844 million and finally equity participations with US$36 million.

Working to boost investment

For the Minister of Economy, Nicolás Grau, the FDI figures are very good news. This because that they reflect that the good momentum that foreign investment had during 2023 is extending to this year as well. "In 2023 we had the highest foreign direct investment figures since 2015, with more than US$ 21 billion and the amounts released today reflect that we continue on the same path, with a growth of 28% only in the first two months of 2024," Grau maintained.

For her part, the director of InvestChile, Karla Flores, emphasized that the increase in the flow of FDI responds to a joint effort with different public agencies in order to attract more and better foreign investment to the country. "It is extremely important that the benefits of foreign investment reach everyone. That is why we have strengthened our work with the different ministries, with a view to promoting the investment opportunities that exist in Chile to international companies.

He added: "This year we have already developed investment attraction activities in Canada together with the Ministry of Mining. In infrastructure, in Asia in conjunction with the Ministry of Public Works. This work will be intensified during the year and will be joined by other ministries such as Energy and Transport", said Flores.

The authority highlighted that "next May we will bring more than one hundred foreign investors to Chile . This in the sectors of technological and digital infrastructure, concessions, energy storage and lithium industry, who will participate in our 7th InvestChile International Forum. They are companies that come with concrete projects in different stages, in which we want to accelerate the decision making process. We are talking about sectors where we need to make quality leaps in an accelerated manner, with greater investment and permanent jobs".

Check out the article on InvestChile's web site


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