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Turning Chile Into The Service Export Platform of Choice . Chilean Economic Development Agency -CORFO. How do we manage risk?. Being a predictable country, where institutions work, rules are clear and properly enforced. Being fiscally responsible (surplus as the rule)
Chilean Economic Development Agency -CORFO
Santiago is 18th among 50 cities –
“Top 50 Emerging Global Outsourcing Cities 2009”
Others: Rio de Janeiro (26), San Jose CR (27), Mexico City (30), Monterrey (41)
A.T. Kearney Ranks 7th among 50 countries – “Global Services Location Index 2007”
EIU Ranks 15th among 60 countries –
“Future leaders in global offshoring 2006”
Time zone alignment
Overnightflights to the U.S.
Sources: World Bank, EIU, IMF, A.T.Kearney, Chile’s Central Bank
“Chile will remain one of the world’s most attractive emerging-market investment locations”
COUNTRY VIEW 2006 EIU
Chile’s Business Environment Stands out in Latin America and Beyond
Chile’s Business Climate is Reflected in Moderate Tax Burden and Flexible Labor Laws
Source: World Bank (www.doingbusiness.org) 2008
Web of trade agreements provides
access to more than 90% of OECD economies
Web of double taxation agreements
covers most of OECD economies
Portugal Denmark Poland
UK Sweden Croatia
France Finland Hungary
Netherlands Czech Republic
Source: Direcon www.direcon.cl
UBSThe world\'s most expensive
cities in 2008 (among 70 cities)
Sources: UBS (www.ubs.com), EIU (www.eiu.com),
Strong Government Commitment to Turn Chile into a Global IT Service Platform
“Increasing productivity also means innovation… I want this to be a country that not only exports copper, but also mining software; not only fruit, but also techniques to pack and preserve foods; not only salmon, but also vaccines to prevent diseases in fish.
The public sector will increase its spending on research and development by 50%. Our goal is for our country to spend more than 1% of GDP on research and development by its Bicentennial in 2010.
We will increase our efforts to make Chile a platform for the export of services.”
Michelle Bachelet, President of Chile
State of the Nation Address 2006
into the near-shore platform of choice for BPO, KPO and ITO.
A Private & Public Partnership has been created for this purpose, that includes Government agencies, business associations, academia and foreign companies.
Chile´s Strategy to develop the Global Services Industry
Altec - Santander Bank
Regional platform for IT services
Year established: 2001
Investment: US$ 7.7 M
Services to Spain and Latin America to 10 banks in 8 countries include:
Software dev. and maintenance
US$ 60M in sales
High productivity (CMM5 in 2005)
Costs are 60% less than in Europe
TCS BPO center
-Year established: 2006
-Research lab: Web search and mining hosted in the Engineering School of University of Chile
-Scope: 10 PHDs
-Only other Yahoo research center outside the U.S. besides Barcelona
-Why Chile? One of the few places where “people are ‘understanding’ the internet”
“The main reason to be in Chile is the local talent”.
Director of Yahoo! Research
Source: A.T.Kearney Report 2007
Corfo created a National Register for English speakers certified with the TOEIC test.
Total: 37,000 people registered nationwide
Corfo launched a 100% funded program to train English capacities for 1,000 IT engineers in Santiago. In 2009, Corfo will fund an English program for 2,000 IT engineers in various cities.
Corfo´s register and training programs are available for foreign companies looking for local talent
Annual sales (US$Billions)
Source: ACTI – IDC , 2008