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One of the mechanisms most often used by foreign investors is the Foreign Investment Statute, known as Decree Law 600 (D.L. 600). This legislation guarantees access to the formal exchange market for the repatriation of capital and profits and grants other benefits in taxes and customs duties. Government policy encourages the establishment on new industries in sparsely inhabited regions, especially in the south. Regulations governing foreign investment by Chilean individuals and non-financial corporations are limited. Chile has a free market economy, strongly oriented toward the promotion of investment and foreign trade. Chile is rich in mineral resources. Chile's significant industrial activities and production for export lie in the areas of mining, fishing and fisheries, agriculture (principally fruits, vegetables and wines), paper and wood, and textiles. Chile has a very high literacy rate and ranks among the most developed Latin America countries in terms of numbers of professionals and status of scientific research and technology. Chile is home to a modern banking and financial system. Chile is a very active partner on the international scene, in both political and economical terms. Chile is in the process of reorganizing and improving its environmental legislation and designing policies to resolve and prevent problems and preserve its natural heritage in harmony with the necessities of development.
One of the mechanisms most often used by foreign investors is the Foreign Investment Statute, known as Decree Law 600 (D.L. 600). This legislation guarantees access to the formal exchange market for the repatriation of capital and profits and grants other benefits in taxes and customs duties. In a measure designed to avert the entry of speculation capital, foreign investors may repatriate capital and profits only after a one-year waiting period. Since 1991, nearly all foreign direct investment in Chile has taken place through D.L. 600. Under this law, foreign investment must be approved by the government's foreign investment committee, but approval procedures are expeditious and not burdensome.
Government policy encourages the establishment on new industries in sparsely inhabited regions, especially in the south. Fifteen percent of the workforce is employed in industry. Regulations governing foreign investment by Chilean individuals and non-financial corporations are limited.
Chile has a free market economy, strongly oriented toward the promotion of investment and foreign trade. The Chilean economy relies heavily on exports and its policies have actively encouraged foreign investment. Lately there is a growing awareness that the aquaculture industry must diversify beyond salmon as world market prices have put considerable pressure on the salmon industry.
Chile is rich in mineral resources. Chile's significant industrial activities and production for export lie in the areas of mining, fishing and fisheries, agriculture (principally fruits, vegetables and wines), paper and wood, and textiles. Chile has exceptional natural resources for the cultivation of aquatic species and this has enabled the aquatic farming industry, particularly the salmon farming industry, to expand rapidly.
There are numerous institutions, which provide vocational and technical education The university system is vast and diverse. Chile has a very high literacy rate and ranks among the most developed Latin America countries in terms of numbers of professionals and status of scientific research and technology.