Chile's Soaring Foreign Investment in Energy Sector Boosted by Green Hydrogen Initiatives
Key Ideas
  • InvestChile reports a significant increase in foreign investment projects in Chile's energy sector, primarily driven by green hydrogen initiatives.
  • United States, Austria, and Canada are the top three countries of origin for foreign investment projects, showcasing international interest in Chile's market.
  • Over 20,000 new direct jobs have been created as a result of the investment projects supported by InvestChile, contributing to the country's economic growth.
  • Chile aims to establish itself as a key player in the global green hydrogen industry, leveraging its favorable conditions for sustainable fuel production.
InvestChile, Chile's agency promoting foreign investment, has announced a record-breaking portfolio of US$56.2 billion in foreign investment projects for 2024, marking a 68% increase from the previous year. The surge in investments is mainly attributed to the energy sector, with US$36.8 billion, including a substantial focus on green hydrogen initiatives totaling US$25.6 billion. Karla Flores, the Director of InvestChile, highlighted the country's commitment to becoming a significant player in green hydrogen, essential for combating climate change globally. The investment projects have led to the creation of over 21,000 potential direct jobs, emphasizing the positive impact on Chile's economy. The top three countries contributing to these projects are the United States, Austria, and Canada, with significant investment amounts surpassing previous years. Notably, the United States led the pack with investments totaling US$20.5 billion. Furthermore, the growth in sectors like mining, global services, infrastructure, and the food industry signifies diverse opportunities for foreign investors in Chile. The job creation potential in sectors like global services and technology, mining, and energy has shown remarkable growth compared to the previous year. Chile's strategic positioning in green initiatives and the positive economic outcomes from foreign investments mark a promising trajectory for the country's energy and economic landscape.
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