BY STAFF REPORT
Chile has overtaken Mexico to become the second biggest recipient of FDI in Latin America after Brazil. Given an estimation made by UNCTAD, the South American country received US$26,400 million in foreign direct investment (FDI) in 2012.
“This is great news, reflecting an historic moment for Chile as regards FDI,” said Matías Mori, executive vice-president of the Foreign Investment Committee. “Latin America would be the region in which incoming FDI showed the highest growth in 2012 and, within the region, Chile would have seen the largest increase.”
FDI rose by an average of 7.2% in Latin America and the Caribbean, according to UNCTAD.
Foreign direct invest declined considerably in Europe and the United States, said the UN agency.
The report expects that the global FDI inflows will reach US$1.4 trillion in 2013 and US$1.6 trillion in 2014, but notes that these projections could be affected by ‘structural weaknesses in major developed economies and in the global financial system.’