Chile has the potential to become a Latin American hub for world-class mining suppliers, the deputy manager at state development agency Corfo's investment promotion division InvestChile, Danilo Sturiza, told BNamericas.InvestChile is organizing the 5th international forum on investment opportunities for mining suppliers, which will be held from 17-20 October 2011.

"Our idea this time is not just to attract potential international investors to develop businesses locally in Chile, but for them to explore all the opportunities the country has to offer in order to become the main center of services and equipment suppliers for Latin America's mining industry," Sturiza said.

A total of 71 international companies of all sizes have been invited to take part in the forum and explore opportunities for direct or joint investments with local partners.
"We're convinced Chile has all that is needed to become the base from which suppliers can access the rest of the regional market," Sturiza said. "We're also focusing this year on attracting investment to regions, instead of just Santiago. Northern region III has great potential considering that a significant part of the US$67bn that is expected to be invested in the Chilean mining sector will be in that region."

Total mining investments in Latin America this decade have been estimated at around US$200bn. Among Chile's advantages are its stable and sound fiscal regime, and clear rules for foreign investors. In a recent ranking published by Forbes, Chile was found to be the best country in Latin America to do business and number 24 out of 134 nations. [BN Americas - 17 October 2011]