The government of Chile has approved national railway firm Empresa de los Ferrocarriles del Estado (EFE)'s $1.9 billion, 2020-22 investment plan, according to BNamericas. Work is currently under way on the $375 million reconstruction of Santiago's subway system, and will start on the $1.3 billion Melipilla-Alameda railway project in June.
A new transport, tourism, hospitality and travel industries boutique law firm recently opened its doors in Chile under the name Prat & Cía. Founded by Francisco Prat, the firm’s team includes associates Víctor Briceño and Isidora Casas del Valle. Prat has extensive experience in regulatory, finance and contentious matters related to the aviation industry.
Cloud and edge solutions provider G-Core Labs is expanding its presence in South America by opening a new PoP of its content delivery network in Santiago. According to G-Core Labs Vice President of Products Dmitry Samoshkin, the company is looking to start its expansion in Chile because it has more than 15 million people (82.3% of the country's population) using internet on a regular basis.
The Economic Commission for Latin America and the Caribbean (ECLAC) projects an average contraction of 5.3% in the region for 2020. It estimates that Chile will contract by 4% in 2020, similar to the estimate made by the IMF, which predicted a drop of 4.5%.
90% of companies that have taken up the government and protection law have less than 10 workers. 94.8% of these businesses are micro-companies and SMBs, while 92% are micro and small enterprises. Meanwhile, 79% of workers are from micro and SMBs.