Chile on its way to being a big investment hub for Dubai, says minister

Chile on its way to being a big investment hub for Dubai, says minister

The positive dynamism that reflects Chile's economy compared to other Latin American economies has positioned it as one of the most attractive nations to become a business hub for Dubai and the Emirates, Chilean Economy Minister José told Efe on Tuesday. Ramón Valente

The minister, who participated in a business meeting in Panama on the new financial ties between the United Arab Emirates (UAE) and the Latin region, explained that in the current scenario there is potential to formalize alliances that help build an area of ​​economic prosperity with bilateral investments.

"Chile is embarking on a crusade to increase investments, we want them to come from Chilean businessmen and those from the rest of the world, we have a very dynamic economy, grew 4% last year and this 2019 is forecast to grow more than 3%. it is more than the average for Latin America, "he said.

Valente, who attends the Global Business Forum (GBF), said that this meeting serves to show Dubai investors the opportunities to settle in Chile, so that it can be a "hub" to do business in Latin America. "

"Nations like Argentina and Brazil go through economic problems with low growth rates, while in the Pacific area there is more dynamism with Chile, Colombia, Ecuador and Peru, without counting the riches in agricultural products and fisheries. the investor of the emirate of Dubai, "he said.

The minister of the government of Sebastián Piñera affirmed that in the case of the southern country they already export to the Arab States food products such as blueberries and salmon; and to strengthen this alliance they have in Dubai with an office of the Export Promotion Agency (ProChile).

According to official data, Chile exports to the Middle East agricultural, livestock and wood products worth 181 million dollars, which represents little more than 1% of world exports.

He also in charge of the Chilean Development and Tourism portfolio said that they could attract investors from Dubai to increase the real estate and tourism sectors, which he emphasizes are highly developed.

"We want to continue the policy of attracting investments that we have in Chile, because if we want to stay at the rate of 4% we have to do it In addition, a tax modernization project is currently being discussed, which will be an additional incentive for foreign investors" , he assured.

Valente said the negotiations are going well and that Chile has had meetings with representatives of the sovereign wealth funds of Dubai and the Emirates in the last year. And is that the countries of the Persian Gulf have one of the largest investment funds in the world, even with assets above 800,000 million dollars, more than twice the gross domestic product (GDP) of Chile.

The administrator of Economy settled down that what should prevail between the regions of Latin America and the Middle East to give fruit to the businesses is to work with healthy coexistence, free and fair trade; and reciprocal investments without discrimination.

"Chile is a promoter of open economies, trade and globalization, we want investments to be made under more transparent and reciprocal conditions possible for all countries," said the minister of the South American nation.

The event attended by Valente was organized by the Dubai Chamber of Commerce in a strategic alliance with the Government of Panama and will bring together renowned panelists, heads of state and other business and investment leaders from Latin America, the Gulf countries and other parties until tomorrow. of the world.


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