Chile's President Michelle Bachelet appointed Carlos Álvarez Voullieme as the new director of the country's investment promotion agency InvestChile, the agency said in a statement.

InvestChile was created as part of the government's overhaul of the investment promotion system, which saw the scrapping of the DL 600 tax provision rule much used by the mining industry, as part of a larger tax reform implemented by the government.

The industry heavily criticized the decision, as the provision was credited with attracting billions of dollars of investment by including a non-discrimination guarantee for foreign investors and a complaint resolution mechanism.

InvestChile said it plans to play an active role in seeking overseas capital under the new investment rules. Measures to be implemented include opening offices in markets such as Japan, Germany the US and the UK, Bachelet said during the launch of the agency last month.

The government identified the mining, energy, infrastructure, tourism and food industries as some of the priorities for new investment.

Prior to his appointment, Álvarez was president of the council of state-owned companies (SEP).


Source: BNamericas