Noted for being one of the most commercially open countries in the world, Chile stands out as the best in the region in terms of ease of doing business and economic freedom, in addition to being the most competitive country in the region. Looking to the future, Chile seeks to become a pole of attraction for technological investments, with large companies seeking to increase their presence in our country.
Chile has an open, transparent and dynamic business environment. Our country has a democratic trajectory and a stable economy that positions it as an attractive and reliable destination to invest and do business.
Since 1998, Chile has been the most competitive country in the region in the World Economic Forum ranking every year. But it is not the only ranking where it stands out. It is the most attractive country in Latin America for foreign investment, according to the Global Opportunity Index 2021 of the Milken Institute, and it is the safest country to invest in Latin America, according to the Economist Intelligence Unit (2021), a measurement based on three factors for its analysis: political, economic and regulatory risk, where Chile appears among the best positions.
Chile was the first economy in South America to join the Organization for Economic Cooperation and Development (OECD), an organization that has highlighted our strength in regulatory policies, laws, governance and the fight against corruption.
The country is also first in Latin America in the Forbes ranking of best countries to do business, first in the region in the economic freedom index, in talent competitiveness and in ease of doing business (World Bank).
In addition, our country has become a gateway to all of Latin America: We are the economy with the most trade agreements on the planet, with a total of 65 markets, representing almost 70% of the world's population, in addition to special trade tariffs with 88% of the world's GDP, and agreements to avoid double taxation with 32 economies.
Chile is a world leader in copper, in fact, its share of the world copper market is 28%, and it is the main exporter of this raw material, but it is much more than that. Chile has 7,600 exporting companies, which generate at least 1.1 million jobs, representing 12% of the country's labor force. The great diversity of products that we send abroad makes us world leaders in exports of: cherries, salmon, mussels, lithium carbonate, dehydrated plums, copper, cellulose, molybdenum, among others.
In addition, Chile's business schools have great international prestige, and Chile has three Chilean universities in the top 5 of the best MBAs in Latin America: Universidad Adolfo Ibáñez, Universidad Católica de Chile and Universidad de Chile, according to the América Economía ranking.
With all this, Chile has become an attractive pole for technology businesses. In fact, in the last five years, companies such as Google, Microsoft, Amazon Web Services, Oracle and Huawei have installed technological infrastructure in the country, and currently the Agency for the Promotion of Foreign Investment, Invest Chile, manages 170 technology sector projects in different stages, with an amount to be invested of US$4.3 billion, which represents an increase of 1,200% in less than five years in the number of initiatives.
It has also become an attractive place to do business in renewable energies, with emblematic projects such as Cerro Dominador, the largest solar thermal plant in Latin America, located in the middle of the Atacama Desert, or the potential it has in the development of green hydrogen in southern Chile, with a large project like Haru Oni advancing in the Magallanes region.
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