InvestChile's Portfolio Reached US $28,345 Million in 2022, Together With US $29,000 Million in Green Hydrogen Projects

Karla Flores
Karla Flores, InvestChile Director

SANTIAGO, Chile, February 16, 2023 (Newswire.com) - InvestChile is Chile's Foreign Investment Promotion Agency, and its portfolio was valued at US $28,345 million as of December 2022, comprised of 476 foreign investment projects at various stages of development. This figure is 2% higher than as of December 2021, when it was US $27,776 million. Employment associated with the projects financed by the agency totaled 18,866 jobs.

US $12,296 million of the total portfolio has been invested in installed initiatives and projects under development in Chile. These 95 projects have created over 5,300 jobs, which represents 32% more than in 2021 and they are already adding to our economy.

"Despite a challenging local and global economic outlook, we managed to close 2022 with positive figures by number of projects, as well as by value and number of associated jobs. We secured investments totaling US $12,296 million for Chile last year, which created over 5,300 jobs, an increase of 32% over 2021. This reaffirms foreign investors' confidence in Chile," said Karla Flores, InvestChile Director.

The Energy sector once again led the portfolio with 62 projects valued at US $11,536 million, followed by the Global and Technology Service sectors with US $7,070 million, then Mining and mining suppliers with US $5,191 million.

The countries represented in the project portfolio were led by the USA with projects valued at US $8,174 million, an increase of 49% over 2021. China was in second place with US $4,673 million in projects, while third place went to Canada with projects valued at US $2,806 million.

Green hydrogen

InvestChile together with the Energy Ministry reinforced their support during 2022 for foreign companies interested in investing in green hydrogen projects, after the success of the first public invitation to develop production plants in Chile, which was tendered in late 2021.

Thus, the agency was supporting 18 projects valued at US $29,600 million at the close of 2022, from companies in the USA, France, Germany, Spain, Japan, Austria and Norway. Although these projects are supported by the agency, they have not yet become part of InvestChile's portfolio, as they are still at an early stage prior to environmental assessment.