The country’s Central Bank data showed foreign investment grew by 31 percent in 2022. It was the largest growth in almost a decade. The investment accounted for nearly US$20.1 billion.
The country’s Central Bank reviewed its financial activities for the fourth quarter of 2022 on March 20. The annual increase of 31 percent was the largest in foreign investment since 2014.
The boom is also 50 percent higher than the average of the last five years, and 46 percent higher than the average between 2003 and 2022.
New capital came in at about US$8.85 billion, and profit reinvestment was about US$10.8 billion. Debt instruments reached about US$1.24 billion dollars. Debt instruments are debts, such as bonds, that are offered as investments and must be paid back to investors within a period of time.
Officials see the foreign investment growth in the country as an affirmation. Karla Flores, InvestChile Director, said the growth also contributed to the country’s economic recovery.
“The figures not only confirm the confidence that foreign companies have in Chile, more importantly, these numbers also turn into more employment, innovation, and training. In short, there’s more opportunities to develop talents and better the lives of Chileans,” Flores said.
“The amount is great news, it’s also a challenge for us to keep working. We know that the global economy is complex, and the projection shows that 2023 will be especially difficult to attract investments,” Flores said. “But we are focused on promoting opportunities in sectors of the future and sectors that are of high value to the country.”
The sectors include clean energies, technological infrastructure, food and agriculture innovation, circular economy, and green hydrogen, among others, Flores said in the press release.