September 22, 2020

Bogotá expects foreign investment of more than 2,950 million dollars in 2019

Foreign direct investment in the Bogotá region, of which the Colombian capital and its surrounding municipalities are part, will exceed 2,950 million dollars in 2019, an expansion of about 10% compared to 2018, according to a disclosed estimate this Friday.

"This projection confirms that Bogotá is one of the leading investment destinations in Latin America," said the executive director of the Invest in Bogota promotion agency, Juan Gabriel Pérez, quoted in a statement from his office.

The document was prepared by the Invest In Bogota Market Intelligence and Research team that took into account historical records of foreign direct investment in the city, as well as some macroeconomic variables of the Colombian capital.

Pérez said that this year's figure will allow investment in Bogotá to grow for the third consecutive year "starting from the more than 1,720 million dollars estimated for 2016".

According to the projections, the Bogotá region will receive $ 1.4 billion for new and expansion projects in the first half of the year, a growth of 22% compared to the same period of the previous year.

That investment came through 80 projects that generated some 11,000 direct jobs.

In that period, there were investments, mainly, in the software and information technology services sectors (13%), corporate services (12%), communications (7%), textiles (7%), commerce (6%) and pharmacists (5%).

"The sectors that are reaching the most investments in Bogotá are aligned with the promotion strategy of Invest in Bogota and with the Smart Specialization Strategy of the city-region, which is geared towards Bogotá and Cundinamarca becoming a region more prosperous and competitive from innovation and technology, "Pérez added.

Companies from sectors such as life sciences, technology-based services, light manufacturing, city infrastructure projects and creative industries are part of the promotion agency's strategy.

On the other hand, the analysis highlights that between 2016 and the first half of this year, Bogotá received more than 500 projects from 44 countries that have generated at least 57,000 new jobs.

In that period, the capital received approximately 8,000 million dollars of foreign direct investment in new and expansion projects.

The main investors in the Bogotá region during the last four years are the countries of the European Union (EU), with 41%, followed by the United States (24%) and Chile (4%).

. (tagsToTranslate) Bogota (t) foreign investment (t) millions (t) dollars

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