Chile president Michelle Bachelet said on Friday her center-left government was planning the development of a "big scale" port in the center of the copper-exporting country. Bachelet also estimated about $1 billion would be allocated to foster innovation in the Andean country over the next four years as she presented a batch of pro-growth plans on Friday. Previously red-hot economic growth in world No.1 copper producer Chile is slowing on the back of softer investment and domestic demand, creating a headache for the new president. "We have a major challenge, the challenge of growing at a good rhythm while at the same time increasing our productivity, being more competitive, diversifying our economy and becoming less vulnerable to global volatility," she said.