Chile’s Congress recently passed a bill aimed at accelerating the approval process for investment projects. This new law addresses a major concern for industries like mining and renewable energy, which have long argued that slow permit approvals were hindering investment in the country. Chile is a global leader in copper and lithium production, making this legislation particularly significant for these sectors.
The bill was approved with strong support—93 votes in favor, 27 against, and 17 abstentions—and now awaits the president’s signature to become law. According to Economy Minister Nicolas Grau, this legislation is expected to cut permitting times by 30% to 70% without compromising regulatory standards. While this is a significant step, a separate reform to the environmental assessment system, crucial for investment projects, is still facing delays.
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