Chile attracts as much Investment as Mexico

From Bloomberg Latin America, Philips Sanders May 27th, 2015.

Chile bucked the trend in Latin America last year with an increase in foreign direct investment, attracting almost as much as Mexico, a country with seven times the population, according to the United Nations Latin American and Caribbean unit.

While Mexico received $22.8 billion, Chile lured $22 billion, said the organization, known as Cepal for its initials in Spanish. The only country to receive more in Latin America and the Caribbean was Brazil with $62.5 billion.

FDI into Latin America and the Caribbean fell 16 percent last year from 2013, with investment into Mexico tumbling 49 percent, while Brazil declined 2 percent. Investment into Chile, the region’s wealthiest nation, rose 14 percent over the same period, the only major country in Latin America to see an increase. More should now be done to diversify investment, Cepal said.

Policies “shouldn’t be designed to recover the amount of direct foreign investment reached in the past decade, but in attracting FDI that contributes to productive diversification,” said Alicia Barcena, Cepal’s executive secretary.

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