July 30, 2021

Spanish companies highlight Chile's stability in the face of economic challenges | Economy

Spanish companies highlight Chile's stability in the face of economic challenges | Economy



Responsible for large Spanish multinationals this morning highlighted the stability of the Chilean economy, which allows it to face with optimism the most immediate future and be safe from turbulence such as the slowdown or the commercial war opened by the United States. This has been shown in the Desafíos forum in Chile. Towards an integral, inclusive and sustainable growth that was celebrated this morning by EL PAÍS in Madrid, sponsored by Ferrovial, Enagás and Suez, and in which the President of the Republic of Chile, Sebastián Piñera, has participated.

The Minister of Industry, Commerce and Tourism, Reyes Maroto, opened the event recalling the "close relationship" between Chile and Spain, two countries that maintain "strengthened economic and trade relations" outside their respective governments. Maroto stressed that, with Pedro Sánchez in the Executive, "the commitment to Chile remains strong and determined."

The president of Enagás, Antonio Llardén, highlighted the four-year program in May of this year Ruta Energética 2018-2022, which aims to move towards sustainable energy development and take advantage of the country's abundant natural resources to develop renewable energy.

The person in charge of the gas company stressed that Chile has gone from being a country dependent on gas from Argentina to exporting gas, whose consumption at the domestic level it expects to double in the next 11 years. Enagás is the majority shareholder of the GNL Quintero regasification plant, strategically located in the Quintero Bay, in the center of the country and close to the capital, Santiago de Chile.

Circular economy

Ángel Simón, Executive Vice President of Suez, emphasized that Chile has resisted very well "all the turbulence of history because it has always based its economy with trade outside the Mercosur region, so it is not subject to the uncertainty of other countries neighbors like Argentina and Brazil. "As its president, Sebastián Piñera, has said very well," Chile has always been an economic island, "said Simón.

For the manager of Suez Spain, if Chile wants to settle among the most advanced countries, it has no alternative but to go from a linear economy to a circular economy, and to continue betting on public-private collaboration projects.

In fact, Suez, in collaboration with Aguas Andinas, the largest concessionaire of water management in Chile, is promoting a paradigm shift towards the circular economy, transforming three Santiago water treatment plants into biofactories. These biofactories not only treat wastewater but also transform it into new natural resources, into clean energy.

As the only point of concern, Simón stressed that the fact that the congressional majority in Congress is different from the one that sustains the government means that some environmental projects stop, and called for a stable framework to help solve this situation.

Meirás: "I wish there were more countries like that"

Íñigo Meirás, CEO of Ferrovial, highlighted that Chile is one of the countries with the best prospects for investment because it fulfills all the basic precepts: transparency and legal security; social stability and economic strength. "I wish there were many more countries like that," he said.

The executive only complained about the excessive bureaucracy for the approval of projects and the next tax reform that, by penalizing the repatriation of dividends to foreign multinationals, makes them less competitive compared to local companies

Ferrovial has operated in Chile since 1996 in several highway, service, construction and airport projects. Through its subsidiary Agroman, it has played a leading role in the construction of line 6 of the Santiago metro, inaugurated in December 2017: 3,000 meters of tunnels and 7 of the 10 stations have their signature. At present, it runs the Universidad de Chile station, on line 3, and the new accesses to the Tobalaba station, on line 4. The services business is present in the mining sector through Steel Ferrovial Servicios. In addition, Ferrovial acquired in 2016 the company Transchile, owner of a transmission line of 204 kilometers.

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