Chile mulls attracting more Chinese direct investment

SANTIAGO - Chile's foreign investment promotion agency InvestChile is trying to work out strategic plans to draw more investment from China, the director of InvestChile has said.

"China is a real opportunity in terms of investment. We are working to identify the correct strategy to grab the attention of Chinese companies that want to make foreign direct investment in Chile," Carlos Alvarez was quoted as saying Thursday by the Pulso daily.

Alvarez noted that the plan is expected to mainly target those Chinese companies "who want to bring their own capital to Chile to manufacture in the country, and hopefully export to other destinations."

He said this strategy would be finished next year, with a particular focus on global services.

Besides China's appeal as the second-largest economy in the world, another reason why Chile is turning to the East is the increasing uncertainty about the trade policy of US President-elect Donald Trump as well as the rise of trade protectionism in the Western Hemisphere, Alvarez said.