Chile faces challenges for sustainable development despite significant economic growth

Chile has achieved significant economic growth, which has improved living standards but faces challenges for sustainable development, according to a study carried out by specialists from the Organization for Economic Cooperation and Development (OECD) in conjunction with the government of the South American country.

The report “Reviewing the Quality of Foreign Direct Investment (FDI) in Chile: Promoting Sustainable Development and Diversification” was released this day in a press release by Chile’s Undersecretariat for International Economic Relations (Subrei), which, together with InvestChile and the OECD carried out the study.

The head of the OECD’s Investment Division, Ana Novik, said in a statement that FDI could play an essential role in overcoming these challenges; this report on FDI qualities analyzes what the country should implement to generate positive impacts on its development.

Meanwhile, Chile’s Undersecretary for International Economic Relations, Claudia Sanhueza, highlighted the importance of this FDI quality study for the country, as it provides a detailed analysis of Chile’s situation to address current challenges and to take advantage of opportunities for sustainable development, as well as the importance of FDI.

“It makes an x-ray of what foreign investment is in Chile, in what sectors it is being invested, and how it is being invested.”

“It also makes an analysis of how the rules are, what the regulation is, and some things are surprising, such as, for example, that Chile has a regulation that is even more open and facilitating than the OECD average,” he said.

The study found that the South American country relies heavily on trade and FDI for its economic growth and that FDI can help diversify Chile’s economy, especially in knowledge-intensive and green sectors, promoting innovation, productivity growth, and the transition to a low-carbon economy.

The report also highlighted that Chile’s legal and regulatory framework ensures that FDI fosters sustainable development.

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