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Regional Government launches InvestAraucanía to attract foreign investment to the Region

  • InvestAraucanía will serve as a pilot test for the strategy’s subsequent application in other regions of the country. It will be supported directly by InvestChile, the national foreign investment promotion agency.

The Regional Government (GORE) of the Araucanía Region and InvestChile launched InvestAraucanía, the country’s first Regional Foreign Investment Promotion and Attraction Unit. It was established as part of the implementation of Law 20.848 and its objective is to boost the arrival of overseas companies and foreign capital to the Araucanía Region. The Unit will serve as a pilot test for the strategy’s subsequent application in other regions of the country.

The mission of InvestAraucanía, which will report directly to the GORE, is to propose, promote and implement a Regional Strategic Plan for the Promotion and Attraction of Foreign Direct Investment (FDI), which will be drawn up starting early next year. This implies not only bringing the Araucanía Region to the attention of investors, but also detecting and showcasing the business opportunities it offers. InvestAraucanía will coordinate its actions to promote and attract FDI in line with the national strategy and the work of InvestChile.

The Minister of Economy, Economic Development and Tourism, Juan Andrés Fontaine, indicated that the creation of InvestAraucanía is important because the government of President Sebastián Piñera “is committed to increasing economic growth and, for this, investment is an essential tool, and foreign investment is a very important source.” He added that “the Araucanía Region has great attractions for the tourism sector, agriculture and the energy and forestry sectors and is an attractive destination for many foreign investors, and we have to strive to promote these opportunities.”

The Regional Governor, Jorge Atton, also stressed that the Region is close to the heart of President Piñera, which is why a Social and Economic Development Plan, involving some US$1,000 million annually in resources, has been introduced to lay the foundations for the Region’s development through large public and private investment projects over the next eight years. “Therein lies the importance of InvestAraucanía, because it will allow us to show a positive picture of the Region, with the characteristics and virtues that make it unique in the country and attractive for both local and foreign investment,” said Atton.

The director of InvestChile, Cristián Rodríguez, highlighted the agency’s commitment to collaborating with the Regional Government in attracting more and better investment. Rodríguez indicated that the agency is currently promoting public projects worth over US$1,200 million in the Region. “The local authorities know most about the area’s potential and needs and, complemented with our guidance and advice, this will help not only to improve the investment climate, but also to create attractive value propositions to attract more foreign investors to the Region,” said Rodríguez.

Another objective of InvestAraucanía is to strengthen local capacity to receive business delegations, as well as to improve the investment climate. InvestAraucanía’s compliance with its objectives will be communicated annually through the Public Report of the Regional Government.