The Chilean Embassy highlights Chile’s business and investment environment – Low Calorie Diets Tips

Chilean Investment Commissioner for Asia, Vicente Pinto, introduces the investment potential and the… Business Environment in Chile. (Jenny Sun)

Chile is a Latin American hub that serves as a regional platform with global access and more free trade and tax deals than any other country, said Vicente Pinto, Chile Investment (InvestChile) Commissioner for Asia, during the second edition of the Global Biz Forum in Seoul on March 15 June.

InvestChile is a decentralized agency under the Ministry of Economy, Development and Tourism in Chile.

Pinto outlined key companies, investment opportunities in Chile and collaborative sectors, highlighting Chile’s potential.

The Investment Commissioner said FTAs ​​allow preferential tariffs with countries and regions that account for 88 percent of global gross domestic product.

Chile ranked 34th in the World Bank’s Logistics Performance Index in 2018. Pinto highlighted Chile’s 17 airports and 17 port facilities, providing access to 4.3 billion consumers.

“Chile has double taxation agreements with 33 economies,” he said, naming Chile the World Economic Forum’s most competitive country in Latin America since 1998 and one of the most attractive markets in the region for foreign direct investment.

Vicente Pinto, Chile Investment Commissioner for Asia, addresses CEOs and guests at Chile Day celebrated on June 15 on the sidelines of the second edition of the Global Biz Forum at the Grand Hyatt Hotel in Yongsan-gu, Seoul.  (Jenny Sun)

Vicente Pinto, Chile Investment Commissioner for Asia, addresses CEOs and guests at Chile Day celebrated on June 15 on the sidelines of the second edition of the Global Biz Forum at the Grand Hyatt Hotel in Yongsan-gu, Seoul. (Jenny Sun)

He said Chile is listed as the No. 1 country in South America by the WEF for its high business environment, economic freedom and GDP per capita income.

Pinto stressed that Chile offers a business-friendly environment with a robust foreign investment system; equal treatment of foreign companies; and free flow of capital and profits.

He expressed the Chilean government’s commitment to encouraging investment by foreign companies based in Chile and facilitating equal opportunities for foreign companies in the country.

National legislation allows entry and repatriation of capital without fees, and a simple tax structure allows for easy company formation, he stressed. He welcomed former Chilean President Sebastian Pinera’s pro-investment agenda.

“Chilean’s financial sector is among the most developed in the world,” Pinto said.

Pinto named Chile as a data center hub for South America with fiber infrastructure serving North America and the transpacific. He also highlighted Chile’s recent deployment of a 5G network, smart devices, AI technology and an updated digital ecosystem.

Pinto outlined Chile’s energy policy and the benefits that the Chilean energy sector could offer potential investors.

CEOs, guests and embassy officials from Latin American countries attend the second session of the Korea Herald Global Business Forum on Chile Day at the Grand Hyatt Hotel in Yongsan-gu, Seoul on June 15.  (Jenny Sun)

CEOs, guests and embassy officials from Latin American countries attend the second session of the Korea Herald Global Business Forum on Chile Day at the Grand Hyatt Hotel in Yongsan-gu, Seoul on June 15. (Jenny Sun)

According to Pinto, Chile’s installed electricity capacity is currently 26 gigawatt hours with broad political agreement on regulatory and environmental issues.

Pinto said Chile will shut down all coal-fired power plants by 2040.

Chile has the potential to provide the cheapest green hydrogen, he said, citing a 2020 report by McKinsey & Company.

“Chile’s green NH3 (ammonia) is the most competitive source,” Pinto pointed out.

Chilean chargé d'affaires ad interim in Korea, Gustavo Gonzalez, addresses CEOs and guests at the Chile Day celebrated on the sidelines of the second edition of the Global Biz Forum at the Grand Hyatt Hotel in Yongsan-gu, Seoul, June 15.  (Jenny sung)

Chilean chargé d’affaires ad interim in Korea, Gustavo Gonzalez, addresses CEOs and guests at the Chile Day celebrated on the sidelines of the second edition of the Global Biz Forum at the Grand Hyatt Hotel in Yongsan-gu, Seoul, June 15. (Jenny sung)

“Dynamic” relations between Chile and Korea

Chilean interim chargé d’affaires in Korea Gustavo Gonzalez thanked the CEOs for attending the forum and congratulated Korea on behalf of the Chilean government on 60 years of bilateral relations between Chile and Korea.

“Although Chile-Korea relations are dynamic, the recent inauguration of Chilean President Gabriel Boric – the youngest head of state in Chile’s history – will bring new ideas,” the ambassador said.

“Our bilateral ties will be strengthened even more, a dynamic and young relationship,” he said.

According to the interim chargé d’affaires, Chile-Korea relations are dynamic because they take into account all aspects of close friendship that countries can develop, such as comprehensive trade and intensive cooperation on clean energy, environmental protection, promotion of human rights, compliance with international agreements and seeking peaceful ones Resolution of Disputes.

“The latter is gaining importance today in view of the terrible events in Ukraine,” he stressed.

Choi Jin-young, CEO of Korea Herald (first from left), presents a letter of appreciation to Gustavo Gonzalez, Chilean chargé d'affaires ad interim in Korea, and his wife in at the second session of The Korea Herald's Global Business Forum at Grand Hyatt Hotel Yongsan-gu, Seoul, June 15.  (Jenny Sun)

Choi Jin-young, CEO of Korea Herald (first from left), presents a letter of appreciation to Gustavo Gonzalez, Chilean chargé d’affaires ad interim in Korea, and his wife in at the second session of The Korea Herald’s Global Business Forum at Grand Hyatt Hotel Yongsan-gu, Seoul, June 15. (Jenny Sun)

According to Gonzalez, Chile offers business opportunities in infrastructure, energy, mining, agricultural technology and digital economy.

“These dynamics are not limited to the government level, but also extend to the private sector,” he said.

“Korea is our fifth largest trading partner with US$6.5 billion in bilateral trade,” he said, adding that Chile’s private sector is keen to expand and deepen trade in goods, services and investments.

Chile and Korea have been hit by disruptions to global supply chains amid COVID-19 and the war between Russia and Ukraine. Both countries are looking for appropriate ways to effectively resolve these disruptions, Gonzalez said.

He stressed that the Chilean embassy will promote science and technology to strengthen bilateral ties with a focus on energy and green hydrogen.

According to Gonzalez, a Memorandum of Understanding signed in November 2021 between the South Korean Ministry of Commerce, Industry and Energy and the Chilean Ministry of Energy is a milestone to continue cooperation, encourage investment and share expertise.

Baek O Hyun, Executive Vice President of Eagon, speaks to CEOs and guests at Chile Day, celebrated alongside the second edition of the Global Biz Forum at the Grand Hyatt Hotel in Chile, about his company's journey to doing business in Chile and its Corporate Social Responsibility Activities in Chile Yongsan-gu, Seoul, June 15.  (Jenny Sun)

Baek O Hyun, Executive Vice President of Eagon, speaks to CEOs and guests at Chile Day, celebrated alongside the second edition of the Global Biz Forum at the Grand Hyatt Hotel in Chile, about his company’s journey to doing business in Chile and its Corporate Social Responsibility Activities in Chile Yongsan-gu, Seoul, June 15. (Jenny Sun)

Gonzalez recommended the southern regions of Chile as the best travel destinations, citing Torres del Paine National Park as a major natural attraction.

Gonzalez thanked all attendees, including co-host The Korea Herald and sponsors such as the Korea Chamber of Commerce and Industry, building materials manufacturer Eagon, and green energy developer OCI Co. for their support of Chile Day.

“Invest in Chile,” the ambassador urged CEOs, saying Chile was waiting for Korean investors.

Meanwhile, Eagon Executive Vice President Baek O Hyun spoke about Eagon’s three-decade journey with Chile, its operations and corporate social responsibility activities in Chile.

By Sanjay Kumar (sanjaykumar@heraldcorp.com)

Leave a Comment