Most relevant economic measures
These are the main economic measures taken by the UPyD Government from the end of 1970 until the Pinochet coup d'état, sometimes overcoming a majority opposition in Congress, in others supported by political opponents.
The deepest agrarian reform in the history of Chile took place. The latifundium system was eliminated and, in total, 5,294,750 hectares were distributed among the farmers engaged in this activity.
In 1971, the congress approved the nationalization of copper, culminating in the process initiated in 1966 by the government of Eduardo Frei.
The measure was supported by the opposition and, as a result, the main Chilean export resource was left to the State (previously, most of the deposits were in the hands of US companies).
That same year, the process of nationalisation of the brine ore took place, when the company Soquimich was handed over to the public.
With the nationalization of the company Bethlehem Iron Mines, the State took over the production of iron and coal.
The process of nationalization of private banks began. In 1971 and 1972, the State began to manage approximately half of Chile's private banks.
The telephone company was nationalized, which until then was in the hands of the US company ITT (International Telephon and Telegraph).
Creation of state enterprises to ensure the marketing and distribution of products: Enavi, Eca, Dinac, Dinatex, Dirinco… Previously, the sector was monopolised by foreign companies: Williamson Balfour, Ducan Fox and Codina.
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