The FinTech industry is consolidating its position in Chile. According to a study conducted by EY and the FinTech Association (FinteChile), the pandemic has provided an opportunity to grow in a context in which digital transformation has played a crucial role in the development of this market.

More than a quarter of Chile’s population has received at least one shot, a feat that only Britain, Israel and the Seychelles have managed to top. Chileans have not had to wait in long lines or navigate confusing signups. Anti-vaccine sentiment, a major hurdle elsewhere, remains low.

The project is part of the US$55 million that its parent company, Bimbo, will invest in Chile over the next two years.

Beyond the strong growth reported again by China for Chilean non-copper exports last year – with US$6.9 billion in shipments and a 22% increase over 2019 – other less common markets showed striking growth.

In its Global Opportunity Index, the Milken Institute highlights the friendliness of Chilean institutions to foreign investors.

Welcoming the more than 700 scientists, thinkers and opinion leaders who gathered for this year’s Future Congress, President Sebastián Piñera outlined the measures the government has taken to foster the development of science. He also stressed that, through its National Strategy for the Promotion of Green Hydrogen, Chile will become the world’s most efficient producer.

The city of Riyadh in Saudi Arabia was the first stop on a visit to the Middle East by the Director of InvestChile, Andrés Rodríguez Rowe, together with the Undersecretary of International Economic Relations, Rodrigo Yáñez. In efforts to attract foreign investment to Chile, they met with Saudi officials and sovereign wealth funds. The goal is to showcase opportunities in Chile in sectors such as energy, infrastructure and green hydrogen.

The event highlighted the key role that technology will play, with Microsoft, Google and Oracle implementing projects worth US$4,500 million during the next five years.

Despite the pandemic, the projects of overseas companies supported by the Agency increased by 20%, reaching a total of 495 initiatives at different stages of development.

Done Properly, a Chilean foodtech company, has been working for three years with umami, a natural flavor intensifier that can reduce salt use by up to 40%, to change the way it is produced by fermenting edible mushrooms.