InvestChile Portfolio Closes the First Half-Year With a 22% Increase in the Number of Projects

BY GlobeNewswire | ECONOMIC | 07/26/22 11:00 AM EDT

SANTIAGO, Chile, July 26, 2022 (GLOBE NEWSWIRE) -- Despite significant global economic headwinds, foreign investment continues to prove resilient in Chile. InvestChile, Chile's Foreign Investment Promotion Agency, closed the first half of 2022 with a total of 453 projects in its portfolio, which meant a 22% increase over the 372 initiatives registered in June 2021. Likewise, the projects managed by the agency entail a total of 17,578 potential jobs, 49% more than for those registered during the same period last year (11,803 jobs).

InvestChile Director Karla Flores highlighted the growth in the number of projects, which has reversed the 22% drop recorded in the first half of 2021. "This is occurring in a context in which the global economic situation has made it extremely challenging to attract capital and it reveals the interest being shown by foreign companies to develop their projects in Chile. The work of the InvestChile team also plays a fundamental role in detecting, attracting and developing these initiatives," explained Flores.

In terms of numbers, the InvestChile Portfolio - which includes investment projects in different stages of development - reached US$24.8 billion, a 3.3% increase over the same period last year.

In terms of specific sectors, energy once again led the portfolio, with 51 projects valued at US$10.8 billion; followed by the global services and technology sectors, with US$5.6 billion; and mining and mining suppliers, with US$3.9 billion. When analyzing the sectors that grew the most in numbers, in energy we can see a predominance of solar and wind energy projects, while global services reveals a predominance of projects related to data centers and IT outsourcing.

In terms of the main countries present in the project portfolio, China heads the list, with 28 projects that total US$7 billion. The United States ranks second with initiatives for US$3.7 billion, and Ireland comes third, with projects totaling US$2.3 billion at the close of the first half of this year.

Among the companies with projects supported by InvestChile are notables such as Amazon Web Services (United States), Sinovac (China), Microsoft (United States), Citibank (United States), China Railway Construction Corporation (China), ODATA (Brazil), and Scala Data Center (Brazil).

Press Contact: Denisse V?squez, dvasquez@investchile.gob.cl

Related Images



Image: https://cdn.newswire.com/files/x/53/66/5cdabbbbfea6b5970c483be4c5ce.jpg


Image 1: InvestChile


Chilean Foreign Investment Promotion Agency



This content was issued through the press release distribution service at Newswire.com.

Attachment

  • InvestChile
Image: https://www.globenewswire.com/newsroom/ti?nf=ODYwNjE1MiM1MDU4MDQ3IzIyMzQwMDA=
Image: https://ml.globenewswire.com/media/ZWE0NTE4ZjYtOGRkOS00YTI1LWE5ODAtYzkyMGM0ZWNjNzZiLTEyNDU1NTM=/tiny/InvestChile.png
InvestChile
Image: https://ml.globenewswire.com/media/31ae65f0-bef4-4bbc-8ec9-c3c7888095af/medium/investchile.jpg

InvestChile
Source: InvestChile

In general the bond market is volatile, and fixed income securities carry interest rate risk. (As interest rates rise, bond prices usually fall, and vice versa. This effect is usually more pronounced for longer-term securities.) Fixed income securities also carry inflation risk and credit and default risks for both issuers and counterparties. Unlike individual bonds, most bond funds do not have a maturity date, so avoiding losses caused by price volatility by holding them until maturity is not possible.

Lower-quality debt securities generally offer higher yields, but also involve greater risk of default or price changes due to potential changes in the credit quality of the issuer. Any fixed income security sold or redeemed prior to maturity may be subject to loss.

Before investing, consider the funds' investment objectives, risks, charges, and expenses. Contact Fidelity for a prospectus or, if available, a summary prospectus containing this information. Read it carefully.

fir_news_article