Chile, the richest country in South America and with a $ 214 billion pension fund sector, is once again trying to become a regional financial center.
The government plans to submit a bill to Congress within six months to become the most attractive local market for foreign companies to sell stocks and bonds in the country. The measures would allow local pension funds to trade over-the-counter securities – currently trading on an established stock exchange – and would simplify taxes levied on foreign investors, among other changes.
Equity trading on the Santiago Stock Exchange has averaged $ 154 million a day over the past 12 months, compared to an average of $ 4 billion in the Brazilian stock market and $ 9.6 billion in Hong Kong.
Source: Bloomberg
