ChileWeek: InvestChile announces opening of China office

“It is key for the development of Chile to increase efforts to deepen the excellent relationship with our main trade partner. Having a specialized presence to attract investments from China will allow us to strengthen our matrix of investing companies,” said the director of InvestChile, Carlos Álvarez.

The “Chile-China: Belt & Road” seminar attracted a large gathering on the morning of Wednesday 30 August in Beijing. The event, part of the third version of ChileWeek, counted on the presentation by the plenipotentiary special ambassador for Asia, former President Eduardo Frei, who referred to the need to build bridges and confidence with Chinese investors, which allow them to expand their businesses in Chile and in Latin America.

In this sense, the former president indicated that Chile has enormous business possibilities for Chinese investors in sectors such as energy, agriculture, infrastructure, services and astronomy.

The director general of the Foreign Ministry’s Directorate of International Economic Relations (DIRECON), Paulina Nazal, emphasized that Chile is increasingly attractive for Chinese investors, and even for direct consumers. It is worth noting that although the country is mainly known for its wine and fruit there are already many companies that have entered its electricity and hotel markets. Added to this is the arrival of Chinese capital in the vine-growing and financial industry with the recent opening of two banks in the local market.

Wu Hongliang, deputy director general of Foreign Capital and Overseas Investment of China’s National Development & Reform Commision (NDRC), stressed that Chile is a solid country with opportunities for public or private Chinese companies to start investment processes.

This was endorsed by the director of InvestChile, Carlos Álvarez, who confirmed the willingness of the government of President Michelle Bachelet to deepen ties with China. Álvarez announced the opening of an Investment Promotion Office in the Asian giant in 2018, in addition to the offices that will be opened in the United States, Germany and Japan in the coming months.

“The opening of an InvestChile office in China responds to the strategic relevance of Asia, and especially China, for our country,” said Álvarez. “It is key for the development of Chile to increase its efforts to deepen the excellent relationship with our main trade partner. Having a specialized presence to attract investment from China will allow us to strengthen our matrix of investing companies, as well as building business bridges, through the provision of direct and relevant advice for the needs of Chinese companies and investors,” he added.

Wu Hongliang expressed his appreciation for the announcement, underlining the trade growth between the two nations after signing the Free Trade Agreement 10 years ago.

Meanwhile, Alberto Cardemil, regional head and representative of Carey in China, welcomed the initiative of the government and InvestChile to set up a direct advisory office for Chinese investors, which will allow a stronger relationship to be built with Chile and its productive sectors.

The event continued with a series of bilateral meetings led by the director of InvestChile with large Chinese companies from different sectors and government representatives from that country, who also welcomed the announcement.

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