Ranked 19th in the 2021 index of economic freedom, Chile is widely regarded as one of the most stable, competitive and open economies in Latin America. Its solid institutions, low level of corruption and healthy macroeconomic figures make Chile stand out as a safe haven for UK construction companies looking to do business.

Although covid-19 has taken a heavy toll on the Chilean economy, the government’s swift response to the pandemic has mitigated its impact. As a world leader in covid-19 vaccination, not only is the country set for a gradual recovery but also the government has recently released ambitious plans to boost the economy – creating opportunities for international construction businesses.

The country aims to become an exporter of renewable energy and is also committed to reducing its greenhouse gas emissions and moving towards sustainable development, objectives that will require investment in green energy projects.

However, the recent victory of young leftist candidate Gabriel Boric in the presidential election held last December has cast some doubt over Chile’s likely approach to foreign investment in the coming years.

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