Chilean investment abroad grows 59%, reaching US$ 886 million for the first trimester

SANTIAGO.- Chilean investment abroad has climbed to US$ 886 million during the first trimester of 2008, indicating an increase of 59% when compared to the same period during 2007.

The Santiago Chamber of Commerce (CCS) also reported that, from 1990 until now, Chilean investment abroad has reached US$ 38.537 billion.

“The increase in investment can principally be attributed to growth in commercial activity and industry”, said the CCS.

Perú was once again the main destination for Chilean investment abroad during the first trimester of 2008, accounting for 24% of the total – equal to US$ 216 million.

During the last few years, major Chilean retailers such as Falabella, Cencosud and Ripley Corp., have set their eyes on Perú as a place to expand business operations into a market with a high growth potential.