-9on foreign investment applications; to administer the respective foreign investment
contracts; to prepare studies and background material on interpretation; to keep a
statistical record of foreign investment in the country under Legislative Decree No. 600;
to take part in international negotiations on foreign investment; to participate in activities
to promote Chile as a country for foreign investment; to centralize information and data
concerning the control that public bodies should exercise on the commitments made by
foreign investors or the companies in which they invest, and to denounce before the
competent public entities and authorities any offense or infraction that comes to its
attention; to take and expedite the necessary measures before the public agencies that
must provide information or give their authorization prior to the approval of the different
applications on which FIC must decide; to investigate in Chile or abroad the suitability
and soundness of the applicants or interested parties; as well as any other function
entrusted to it by the laws in force or the competent authorities.
He referred to the structure of FIC and indicated that the Committee had an Executive
Vice Presidency to carry out its functions and obligations.
He mentioned the type of authorization that FIC can grant a foreign investment
application and the background material it must have in order to grant it.
In the case of the foreign investment project represented by Forestal Trillium Ltda., the
FIC Executive Vice Presidency merely received, studied and decided on the foreign
investment application, verifying that it complied with the legal requirements. When the
FIC Executive Vice Presidency had taken a decision on the application it was presented to
the Foreign Investment Committee for approval.
The witness had no information on the Forestal Trillium Ltda. project, since he was not
supposed “to monitor or intervene in the implementation stages of economic projects
whose capital flows had been authorized.”
4.
Liliana Guiditta
Investment Committee
Macchiavello
Martini,
lawyer
of
the
Foreign
She has been one of the Foreign Investment Committee’s lawyers since 1997 and has
exercised diverse functions within its oversight unit (fiscalía).
She referred to the way in which FIC is structured. She indicated that the functions of the
Executive Vice Presidency, defined in Articles 15 and 15 bis of Legislative Decree No. 600,
“demonstrate that the role of [this Committee and its] Vice Presidency is merely to
authorize the flow of foreign capital into Chile under any of the investment models
described in Article 2 of this decree.”
“The limited role of FIC in authorizing the entry of foreign capital into Chile is not altered
by the obligation that Article 15(e) of this Decree imposes on the Vice Presidency [of this
Committee …], that it should interact with the public bodies that must give their
authorization before FIC approves the foreign investment application.” This obligation
only refers to cases in which the respective sectoral laws require a public entity’s
authorization of investments in some specific industrial and commercial sectors. Health,
environmental and other permits must be requested from the competent authorities
complying with the respective requirements.