The Chilean president emphasized that this "demonstrates Mercado Libre's commitment to the Chilean economy and the creation of formal jobs."

Chilean President Gabriel Boric visited the Mercado Libre Storage and Distribution Center in the Colina commune in the Metropolitan Region on Wednesday.

The company, founded in Argentina in 1999 and operating in 18 countries, reported that it plans to invest US$550 million in Chile this year.

“Online commerce offers many possibilities (…). It provides opportunities for local entrepreneurs. That's what open markets allow, when there are fair tariffs and clear rules that benefit people and businesses,” commented President Boric.

Regarding the investment confirmed by the company, the head of state emphasized that this "demonstrates Mercado Libre's commitment to the Chilean economy and the creation of formal jobs."

President Boric emphasized that at least 30,000 SMEs use Mercado Libre to distribute their products, and that the platform encourages "the formalization of entrepreneurs" so they can use it as a means of selling.

He then went on to mention that the fact that Mercado Libre "will inject US$550 million into the Chilean economy and create 900 formal jobs is great news. And it shows that Chile can grow further."

For the President, the digitalization of commerce "is fundamental." He said that during his term, regulations have been implemented to support companies in this regard.

He acknowledged the need to shorten the permitting process so that entities of various sizes do not get bogged down in paperwork.

“Digitization and artificial intelligence open up possibilities,” he said.

At the event, Alan Meyer, vice president of Andean Countries at Mercado Libre, explained that the investment will be used in part to strengthen the Mercado Pago platform.

Last year, Marcos Galperin, founder of the Argentine multinational, visited our country.

He noted that Chile was a market in which they had to overcome difficulties, but that has changed.

“We weren't growing at the rate we wanted, but we continued investing. The market reacted, and the pandemic caught us at a great moment. Sales volume took off; we had the capacity to meet the high demand, and this pace never slowed,” he said.

And then he highlighted that Chile is “by far” where they have “grown the most in the last five years.”

“Mercado Libre is today one of the most valued brands in the country,” said Galperin.