Sunday 7 March 2021

Bogota, A Magnet For Foreign Investment

During 2019, Invest in Bogota, Colombia’s capital investment promotion agency, supported 48 greenfield Foreign Direct Investment (FDI) projects, its highest number for a calendar year since its institution in 2006.

The U.S. was Bogota’s main ally in Foreign Direct Investment in 2019

Overall, Invest in Bogota supported the arrival of investments from 25 countries in 2019. For this year the United States was the main ally for the city with 10 projects, Canada, the second, with four projects, and Germany, Spain, Mexico, and France, with three projects each, were tied in the third place.

In addition to receiving investment from countries such as the United States, Spain or France, Invest in Bogota supported projects from Japan, South Korea, Saudi Arabia, and Australia, among others. This evidences that the city is developing interest from regions of the world that were not regularly inclined to Invest in Bogota in previous years.

- Advertisement -

This indicates, according to the agency that the city is developing interest from regions of the world that were not inclined to Invest in Bogota in previous years.

According to Invest in Bogota’s Executive Director, Juan Gabriel Pérez, the FDI projects  “surpassed US$600 million dollars and generated more than 7,700 direct Jobs in 2019″.

Pérez added, “these are quality jobs for local citizens and proof of the positive effects of FDI”.

Bogota continues to create an infrastructure that promotes the city as an attractive destination for Information Technology (IT) companies, Business Process Outsourcing (BPO) and Shared Service Centers (SCS). These sectors received the largest number of investment projects for the city in 2019, attracting 14 IT and BPO projects, which brought an estimated 4,000 direct jobs.

- Advertisement -

Some of the IT and BPO companies that invested with the assistance of Invest in Bogota in the city during 2019 were: Ixerv LAC (United Arab Emirates), Nub8 (US), Grupo ARS (Ecuador), the British software development firm Endava, and Switzerland’s Amaris Consulting, which opened a global robotic process automation center.

The second sector in which Invest in Bogota supported the largest number of investment projects was life sciences, which includes industries as medical devices, pharmaceuticals, cosmetics and health services, with 10 new and reinvestment projects. The city also received 10 investment projects for the value-added manufacturing sectors, 8 in creative industries and 4 in infrastructure.

Since 2006, Invest in Bogota has been involved in 384 projects which correspond to an estimate of US$3 billion daollrs and has created over more than 45,000 direct jobs.

Article originally appeared on Q Colombia and is republished here with permission.

- Advertisement -

FACT CHECK:
We strive for accuracy in its reports. But if you see something that doesn’t look right, send us an email. The Q reviews and updates its content regularly to ensure it’s accuracy.

Q24N
Q24N is an aggregator of news for Latin America. Reports from Mexico to the tip of Chile and Caribbean are sourced for our readers to find all their Latin America news in one place.

Related Articles

Nicaragua begins vaccination against covid-19 in people with chronic diseases

TODAY NICARAGUA – Nicaragua, on Tuesday, March 2,  began to apply...

The Three U.S. airlines that do not want to return to Nicaragua

TODAY NICARAGUA – While Copa Airlines decided to expand the number...

MOST READ

Don’t forget to move forward!

RICO's DIGET - As we begin the month of March, I can't help but think back on what we have been through over the...

Nayib Bukele devastated and opened a fear: what will the “millennial populist” do with absolute power in El Salvador

Q24N - Nayib Bukele entered the legislative palace surrounded by military personnel carrying long weapons. He walked in front of the benches before the...

Government rules out, for now, toughening sanitary measures for Semana Santa

QCOSTARICA - This Semana Santa, if the number of daily new cases continues on its current trend, we will not see the harsh sanitary...

Tamarindo and Sámara received recognition for Tsunami preparedness

QCOSTARICA - For their preparedness to face tsunamis, the communities of Tamarindo and Sámara were recognized by the Junta Nacional Tsunami Ready de Costa...

Guatemala receives 200,000 doses of COVID-19 vaccine donated by India

Q24N - Guatemala on Tuesday received 200,000 doses of the vaccine against covid-19 donated by India, which it will use to complete the immunization...

The year of the pandemic: the Juan Santamaría went from ‘bustling’ to desolation

QCOSTARICA - Within a few months, the Juan Santamaría International Airport or San Jose airport (SJO), went from being “bustling” to becoming a practically...

Immigration issues resolution extending “tourist” visas

UPDATED: The DGME confirmed that anyone entering the country on or after December 17, 2019, will be allowed to legally stay until June 1st,...

The Quijongo!

QCOSTARICA - The quijongo is now in very good health thanks to the care of the people of Guanacaste, who are dedicated to protecting...

Loans in dollars loses attractiveness for those who earn in colones

QCOSTARICA - Loans in dollars, which had a great boom in 2000, began to slow down since 2016 and today, despite the fact that...

WANT TO STAY UP TO DATE WITH THE LATEST!

Get our daily newsletter with the latest posts directly in your mailbox. Click on the subscribe and fill out the form. It's that simple!

Article originally appeared on Q Colombia and is republished here with permission.

Log In

Forgot password?

Forgot password?

Enter your account data and we will send you a link to reset your password.

Your password reset link appears to be invalid or expired.

Log in

Privacy Policy

Add to Collection

No Collections

Here you'll find all collections you've created before.