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Production Development Corporation (CORFO) is a Chilean governmental organization that was founded in 1939, by President Pedro Aguirre Cerda, to promote economic growth in Chile. Since its inception CORFO has played a significant role in expanding the countrys economic development by promoting investment, innovation, business and cluster development, coupled with a focus on quality and productivity.

Originally, CORFO was responsible for the creation of basic industries during the Presidential Republic Era, namely oil, power, steel, sugar, transportation among many others.

CORFO oversees a variety of programs aimed at generating the economic development of Chile, through the promotion of inward investment and the advocacy of competitiveness for domestic companies. CORFOs main areas are Quality and Productivity, Innovation and Investment Promotion.

See also

Economic history of Chile

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This article is licensed under the GNU Free Documentation License. It uses material from the Wikipedia article CORFO

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