Peru named as primary recipient of Chilean foreign investment in 2007

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SANTIAGO.- Chilean investments abroad doubled last year, with most of the money ($1,236 million U.S. dollars) going to Peru.

According to a report issued by the Santiago Chamber of Commerce (CCS), Peru became the number one destination for Chilean investment in 2007, pulling ahead of Colombia and Argentina. The latter of the two countries, which had previously claimed the majority of investments from Chile, received only $775 million U.S. dollars from Chilean investors last year.

The CCS report indicates that Chileans invested a total of $4,698 U.S. dollars abroad last year; double the $2,324 million U.S. dollars that had been invested abroad in 2006.

26% of Chilean investment abroad went to Peru, while Brazil was noted as the second most popular country to invest in, claiming $875 million U.S. dollars and accounting for 19% of Chile’s total foreign investment.