MercoPress. South Atlantic News Agency

Strong Chilean investment overseas.

Chilean investments overseas in the first half of 2004 reached the 1998 half year mark considered one of the country's record totaling 997 million US dollars, 238% increase over 2003.

According to the latest report from the Chilean Chamber of Commerce in Santiago, investment areas have expanded from the traditional commerce and energy to others such as construction, industry and mining.

Among the factors which have contributed the report indicates low cost financing; improved financial situation of Chilean corporations; the recovery in the majority of countries where investment was directed and the attraction of relatively less mature markets.

Chilean know-how in several fields has been decisive such as in power plants, but this new wave has targeted mostly construction (35% of the total) with urban building and infrastructure in such diverse countries as Spain, Argentina, Uruguay and Jamaica.

In commerce as the Chilean domestic market begins to saturate, Chilean wholesale companies look to expand mainly in the region with the purpose of consolidating their leading position.

China and United States have also received Chilean investments during the first half of 2004.

In Latinamerica, Chile seems to have a predilection for Argentina and Peru, as the economies of these two countries have began to expand rapidly. Brazil also figures in the list, as well as Uruguay, Colombia and Ecuador but with much less intensity.

Finally energy, commerce and construction concentrated 70% of Chilean investment overseas, followed by industry 10%, mining 4%, forestry 3% and pharmaceutics 3%.