More than USD 100 million in investment committed at the International Offshoring Forum

Over 40 companies from 13 countries visited in Chile to learn about investment opportunities in the Chilean offshoring industry, valued at more than USD $ 1 billion a year.

The global services or offshoring industry is one of the most dynamic industries in the world, moving USD $ 300 billion globally, and growing at an annual rate of 15 percent. In Chile, the industry exported around USD $1 billion in 2010, and employed 21,000 people in the country.

Starting today, international offshoring companies gather in Chile to investigate investment possibilites in the Offshoring Investment Opportunities Forum organized by Corfo's InvestChile. In its first year, investors have pledged more than USD $ 100 million and about 2,200 new jobs for the country.

The Minister of Economy, Pablo Longueira and the Executive Vice-President of Corfo, Hernán Cheyre opened the forum, which began with a seminar titled, "Chile: Service Center for the Americas".

Other distinguished national experts were present at the event, such as Raúl Ciudad, President of ACTI and Chile iT´s board member. International experts as the CEO of Evalueserve, Mark Vollenweider, the founder of Nearshore Americas, Kirk Laughlin and the President of Tholons in Latin America, Mario Tucci. Likewise, international companies such as McAfee Labs, Business News Americas and Tata Consultancy Services spoke about their experiences in Chile and what it is like to do business in the country.

"This forum is part of the work that we do as Corfo's InvestChile to attract world class companies to Chile, to make it an entrepreneurship and innovation center for the region. In global services we have a great opportunity. It is a rapidly growing industry in our country and one for which we have a prepared and qualified work force among other features", said the Executive Vice-President of Corfo.

In his speech, the Minister of Economy, Pablo Longueira, highlighted the opportunities that exist in Chile and the attractive position of the country to receive foreign companies that want to invest. "In Chile we have a solid and stable economy. Our country image positions us as one of the best places to do business in Latin America, therefore these types of activities are a very good opportunity to keep moving forward in the path towards development".

The Offshoring Investment Opportunities Forum will extend until November 16, where companies will visit Valparaíso, meet with businesses that have installed operations in the region and participate in bilateral meetings with their national counterparts.

Global Services Industry in Chile

In the 2010, the world market of global services was valued at an estimated $300 billion USD, with high current and forecasted growth rates.

Chile has the resources necessary to become an important international service-export center. Already, the Chilean global service export industry was valued at about $1 billion USD in 2010.

With respect to human capital, Chile has a qualified labor force of experts trained in global services, making the country a favorable location for its development in Latin America. Likewise, proficiency in the English language is one of the priorities of the country and of this industry, therefore Corfo has an English-language scholarship that has already provided 4,000 scholarships throughout Chile, with plans to reach and has the goal of providing 6,000 by 2012.