Embassy of Korea in Chile – Ms. Kleinsy Bonilla, Advisor, Energy, Mining and Infrastructure Alcántara 74, las Condes, Santiago – (+56-2) 2228-4214, economia.chile@mofa.go.krl
ENERGY, MINING &
INFRASTRUCTURE
N E W S R E P O R T
After sustaining a bilateral meeting, presidents of Chile and Argentina, Michelle Bachelet and Mauricio Macri, declared that “there is a strong will from both nations to promote the convergence of two of the most important regional forums of the region –The Pacific Alliance and MERCOSUR- in the short run”. The joint declaration of the bilateral summit called for the preparation of a summit of the Ministers of Foreign affairs of the country members of the mentioned organisms. Presidents Bachelet and Macri criticized the
“protectionist tendencies” present in the current global scenario
Source: http://www.pulso.cl/economia-dinero/puede-america-del-sur-avanzar-hacia-la- integracion-gran-bloque-comercial/
Chile and Argentina promote convergence of Pacific Alliance and MERCOSUR
Production of Lithium batteries would start in Chile in the second semester of 2018
Investors from Asia, particularly from Chine and from Korea such as MTI Shenzen Group, Vision Group and Kanghoo Group, are implementing investments to produce lithium batteries in Chile.
These companies are providing financial resources of up to US$2,000 millions to build industrial plants in the country.
CORFO, the Agency of Economic Development of Chile, will take this context to call for offers to incorporate advanced technology in this industry. The aim of authorities is to add value in lithium derived products, instead of exporting the mineral as raw material.
Source: http://www.revistaei.cl/2017/02/21/produccion-baterias-litio-chile-comenzaria-segundo- semestre-2018/
Experts in Chile have expressed concerns as for the last six years a severe drought has affected the country, particularly the northern and central regions. In this context, some dams register water deficit as high as 82%, as it is the case of la Laja, or Maule with a deficit of 72%.
With water shortages and a considerable decrease in hydro power generation, the use non conventional renewable energies and thermo generating sources would pose pressure to energy costs, resulting in increments of energy prices, although securing supply and energy provision.
Source: http://www.economiaynegocios.cl/noticias/noticias.asp?id=339304
Dams for hydro power generation in critical state due to a prolonged drought
2017, Feb ru ary 16t h - 28t h
Embassy of Korea in Chile, 2017 Sources: Various authors, newspapers: El Mercurio, La Tercera,
Diario Financiero, Pulso. February 16-28, 2017
The Ministry of Public Works will have a very dynamic year in order to implement an ambitious plan to award projects for over US$3.000 million. Infrastructure projects include roads, airports, ports, and dams, among others.
Experts have expressed concerns as only one year might result insufficient to carry out such plan. Time limitations could involve superficial study of the proposals, and unnecessary errors product of time shortages. Chile leads the Latin American and the Caribbean region in infrastructure, however modern requirements for the growth of the economy demands upgrading and expanding the current works.
Source: http://www.infraestructurapublica.cl/evaluacion-del-sistema-de-concesiones-2/
2017 a very active year for the System of Concessions in Chile
Former Ambassador of Chile in China, Jorge Heine, considers that 2017 will be an excellent year for trade and that “the TPP – Trans-Pacific Partnership- is viable without USA only if it includes members such as China and Korea”. It has been estimated that by 2050 Asia will account for 50% of the world´s GDP, therefore the relationship that Latin America could have with this part of the planet will define to an important extend the dynamism of the regional economy.
Source: https://www.df.cl/noticias/economia-y-politica/macro/embajador-heine-una- alternativa-es-un-tpp-sin-los-estados-unidos-pero/2017-02-16/212045.html
Former Ambassador sustains: “Alternative to TPP is viable only with the presence of China
and Korea For third consecutive year Chile shows the lowest
growth rate of the Pacific Alliance members
In 2016, the Gross Domestic Product of Chile reached 1,5%, while in Colombia it was2%, México 2,3% and Peru 3,9%. This situation has raised the alarms in Chile, as the country has shown the lowest growth rate for three consecutive years. Admittedly, the situation might change soon as Mexico could suffer an economic slowdown product of market reactions to Donald Trump´s policies.
Source: http://www.latercera.com/noticia/tercer-ano-seguido-chile-fue-pais- menor-crecimiento-la-alianza-del-pacifico/
