Chile: Global Services Platform

Over 50 multinational companies have chosen Chile as a business destination in recent years. These businesses create over 9,000 jobs and generate US$ 400 million per year in exports.

The Chilean Government has proposed the strengthening of certain clusters in priority strategic sectors. One key aspect to achieving this goal is the development and specialization of human capital needed for these sectors to reach their maximum potential. As such, the Chilean Economic Development Agency (CORFO) seeks to close current gaps in the country by strengthening its Global Services Cluster (offshoring) through its InvestChile program. The Agency aims at consolidating Chile as an investment platform for foreign businesses, so that they will be able to provide services to the rest of the world from Chile using new information and communications technology (ICT).
 
Given the country's sound infrastructure and incentives, around 50 multinational companies have established themselves in Chile, representing research and development centers for software, biotechnology, knowledge, and shared services, etc. Some examples include: BHP Billiton, Oracle, Yahoo, Unilever, Evalueserve, Tata, Air France, Delta AirLines, Shell, Unisys, Teleperformance, Transcom, Citigroup, Synopsys, Intersystems, JP Morgan, Experian, and Lafarge.
Estimates show that this sector has grown 40 percent globally and has doubled in Chile. Given this scenario, the goal is to reach US$1 billion in service exports by the Bicentennial "the same amount exported by the traditional wine industry" as well as attract 25 new businesses meeting the same standards.
 
The primary challenge is to have a skilled workforce of 100,000 professionals (compared to the current 38,000). Therefore, it is critical that youth are motivated to receive higher education -particularly technical degrees- in areas such as information and communications and accounting, and also quality education in English.
 
Increased wages are one of the specific benefits offered by this industry. Accountants, programmers, and programming analysts with two years of experience earn 42 percent to 66 percent more than employees in other industries without the required English skills.
 
Considering the government's position, based on its innovation and cluster-based productive development policies as well as its decision to make Chile a key player in this emerging world trend, CORFO's Human Capital Program is one of the leading initiatives to achieve these goals. The program will strengthen existing instruments (undergraduate and graduate loans, national English register, English scholarships), in addition to broadening economic incentives for businesses that choose to work in Chile, taking advantage of its countless business opportunities.