Foreign direct investment in Chile reached US$ 8.48 billion in four months January to April, its highest level since records began 15 years ago, thanks to a new law designed to attract investment, the government investment agency stated.
Conservative billionaire Sebastian Piñera was sworn in Sunday to his second term as president of Chile, replacing socialist Michelle Bachelet in the office for the second time in eight years. An emotional Bachelet helped Piñera put on the sash of office, gave him a kiss and then left the Congress with members of her government.
Foreign Office minister for Europe and the Americas Sir Alan Duncan represented the UK in the inauguration of the new president of Chile, Sebastian Piñera. Minister Duncan arrived in Santiago on Saturday and part of his agenda is to discuss the future of UK-Chile bilateral relations with the incoming administration.
Chilean president Michelle Bachelet is ending her term with an ambitious proposal for a new constitution that would ensure equal pay for men and women and strengthen guarantees of the right to strike. Bachelet sent the proposal to Congress on Tuesday, just five days before she leaves office.
Chile's economy is likely to grow by 3.5% this year on the back of increased confidence in a new presidential administration and in improving global economy, the future finance minister said in a local newspaper published on Sunday.