Spanish firms see Chile as a safe investment destination despite the global economic crisis, the Chilean government reported in a release.
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During a seminar on business opportunities in Chile, held in Spanish capital Madrid, Ángel Simón, general director of Spanish water group Agbar, said: "Chile takes first place for its political stability."
Simón, who is also the president of the bilateral Spanish-Chilean committee, said Spanish firms value Chile's high cultural and social levels, and see it as a great platform for doing business in Latin America and Asia.
Companies are suffering from liquidity problems because of the crisis, Simón said, adding: "Regarding the question of where to invest I say, without a doubt, it must be Chile, which is an opportunity when facing this crisis."
"Chile is a great destination for investment and large Spanish firms have taken advantage of what our country has to offer while helping us develop our infrastructure," an official from Chile's finance ministry told BNamericas.
Highway concessions, public transport, potable water and sewerage services, seawater desalination and energy are some of the sectors where the presence of Spanish firms is quite evident in the country, the official said.
The country's strong and stable legal framework on private investment and its outstanding concession model have been strongly praised by Spanish companies, and also by firms all over the world, the official added.
"We want small and medium Spanish firms in Chile and our strengths can be summarized in economic stability, legal security, an active trade policy with a tariff below 2% and a network of 58 trade agreements that cover nearly 88% of our exports, which means preferential conditions in this area," Chile's deputy foreign relations minister Alberto Van Klaveren said during the seminar.
Large Spanish firms already operate in Chile. "That is why the country's doors are open to the medium and small firms," said Van Klaveren, adding that these firms will also enjoy "the possibility of creating alliances with local counterparts to access international markets."
Representatives from some 150 Spanish companies attended the event.
