Chile Argues It Can Bring Change Without Scaring Investors

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Chile’s government is confident it will be able to undertake massive structural reforms without scaring away foreign investors, according to one of the nation’s top economic officials, Bloomberg News reported. “Our main message is that change is not the same as uncertainty,” Economy Minister Nicolas Grau, 39, said in an interview Monday in Ottawa. He spoke in Canada as part of an official visit by Chile’s left-wing President Gabriel Boric, who met with Prime Minister Justin Trudeau and investors before he travels to the Summit of the Americas in Los Angeles. Boric’s administration will boost productivity through spending on in science, technology and innovation, as well as new public-private partnerships. Officials will also streamline regulations, Grau said, noting that some projects must still seek over 100 permits even after securing environmental approval. Those measures will help end a decade of stagnation while not infringing on pledges for fiscal discipline, according to Grau, who obtained his doctorate in economics from the University of Pennsylvania. “It’s possible to have change with certainty, when you have a clear path and when there are no surprises,” the minister said. Read more.