Along with inviting investors to be optimistic about the country and its future, the president announced a series of initiatives to reactivate the Chilean economy. One of his main pains. “I am convinced that Chile can grow more,” said the president.
They had not been good weeks for Boric. With a downward approval of only 24% in the recent Cadem survey, the meager figures of the economy, the thorny issue of immigration and crime, plus the media commotion over his opinions when he was an opposition deputy during the social outbreak of 2019, the Chilean president and his ministers went all out this Thursday at the opening ceremony of the seventh InvestChile International Forum, the main body of foreign investment in Chile, which included representatives of more than 100 companies from 28 countries.
The InvestChile International Forum functions as a kind of road sow but in house, which allows foreign investors to learn about the different investment opportunities in the country, in addition to the economic strategy and public policies around investment.
In the company of the Ministers of Economy, Development and Tourism; Tax authorities; Chancellery; Public Works; Mining; Energy; Science, Technology, Knowledge and Innovation; the Executive Vice President of Corfo, José Miguel Benavente; the Executive Vice President of Enami, Iván Mlynarz; and the Director of InvestChile, Karla Flores, the President highlighted the progress in economic growth and announced a series of foreign investment opportunities.
“We have tremendous opportunities in Chile and foreign investment has noticed it. The fact that in 2023 we have achieved a record of foreign direct investment with more than 21.7 billion dollars, the highest figure since 2015, shows that foreign companies trust our country, because we have clear rules, solid institutions and because Chile in democracy is capable of solving its problems with more democracy, not with less,” said Boric.
The president insisted that he wants to work on internal political agreements to give stability to the country and thus encourage something key for foreign investment: “long-term certainty and the knowledge that Chile is not hiding its problems under the rug, but is is taking care of these. Some of the projects that are included within this fast track of the fiscal pact are in relation, for example, to the creation of a national development bank, emulating, in some way, the German model, advancing and modernizing institutions, for example , the environmental impact evaluation service,” said Boric, alluding to the words previously said by Minister Grau, of Economy, who promised to reduce the processing of new projects by 35%.
LITHIUM AND DATA CENTERS
Boric highlighted Chile as the most attractive country in Latin America to invest in clean energy.
“And I have had to see it with different projects, both mainly wind and solar energy, but there are also some others that are being developed in geothermal and others,” he indicated in reference to green hydrogen and lithium, as enablers of a clean energy transition. .
In this sense, the Head of State announced that at the beginning of the second semester, the production promotion corporation, Corfo, will make a second call to select specialized lithium producers to promote value-added initiatives in lithium, while Enami will begin a open call to express interest to partner with this company to develop, operate and finance the Salares Altoandinos lithium project.
There are almost ten thousand tons per year of equivalent lithium carbonate that will be made available, initially, at a preferential price, for specialized producers who develop value-added projects in Chile.
“At the beginning of the second half of this year, Corfo will make a second call to select specialized lithium producers to promote value-added initiatives in our country, this time within the framework of the contract that the Corporation maintains with the North American company Albemarle. In this matter, it is very important to us that we make our development model more complex,” said President Boric.
He added that lithium represents a “tremendous window of opportunity” to generate productive chains and technology transfer to the country's R&D ecosystem. Corfo's call will allow access to an initial quota of 9,500 tons/year of lithium carbonate, which is equivalent to 15% of Albemarle's current production, which will increase annually by 2.5% until reaching the maximum 25% that is It will extend until 2043. It is expected that producers who settle in Chile using this benefit will be able to develop, for example, production of cathode material, lithium cathodes, lithium battery components and other advanced products in the value chain.
In the digital area, and from the Ministry of Science, Technology, Knowledge and Innovation, the National Data Center Plan will be presented during the second semester. Chile already hosts 22 data centers and we expect the arrival of 28 more.
This National Plan will be prepared with the participation of the industry, civil society, public organizations and local governments, and will provide guidelines to generate agreements between the State and the private sector to boost investment, promote technological development and ensure that investment in data centers is responsible with environment.
Additionally, the President announced that the Digital Talent initiative will be deepened, to reach 50 thousand graduates in the next three years.
He also highlighted trade openness as a key to past and future development, announcing an upcoming trip to Europe and another to Asia in the second half, to India and Indonesia.
“I am convinced that our country can grow more (…) We have all the conditions to take a leap and return to a path of firm growth, with social justice, because growth has to go hand in hand with a fairer distribution of wealth “said the president. And he added: “I invite you to be optimistic about Chile and its future. “To believe and invest in Chile.”
