Tuesday, 11 August 2020

Colombia, The New Magnet for Investments in Latin America

Colombia is the new “El Dorado” – or “Golden” – for investors in Latin America due to its economic stability, political leadership and openness to foreign markets, Commerce, Industry and Tourism Minister Jose Manuel Restrepo said.

Those conditions ensure that the country annually receives more than US$14 billion dollas in foreign investment and on October 29 and 30, the city of Bogota will attract some 300 international investors to participate in the Colombia Investment Summit 2018, Restrepo said in an interview with EFE.

Restrepo said that the attendees at the conference organized by ProColombia will demonstrate the country’s advantages such as “how we’re a country which already has complete clarity that it is the friend of private initiative, which is building its social capital and which has possibilities for superior potential growth.”

- paying the bills -

“This is a good moment to create a strategy to attract foreign investment because in the last 15 years poverty has been reduced and spaces have been opened to enter new international markets,” he added.

That is why, he said, that Colombia “can be a great opportunity,” since from there (Colombia) markets of up to 1.5 billion consumers including the US, Europe, Latin America, and some Asian nations – can be accessed.

“It’s not only about attracting investors but rather attracting them to export from here,” he said, taking advantage of one of the “most modern” free trade treaties in existence with the US and the possibility of increasing trade with the countries of the Andean Community and the Pacific Alliance.

Restrepo said that currently there exists substantial international confidence in Colombia based on the fact that it’s a “big market with significant numbers of consumers, where there has been an improvement in income and opportunities … in entrepreneurship and legality.”

He went on to emphasize the efforts made so far in improving infrastructure, incorporating technology and improving the agricultural sector.

- paying the bills -

To those conditions – all of which are favorable for investment – one must add the fact that Colombia offers a stability that one does not find in other large economies in the region.

There is caution among investors over the political changes in Mexico, where on December 1 Andres Manual Lopez Obrador will assume the presidency; the high inflation in Argentina; and the fear over the results of the Brazilian presidential election.

The Colombian government predicts that non-mining, non-energy investment will reach US$11.5 billion by 2022, which – in combination with the other traditional economic sectors – will take the country to new levels of development.

Source: Laht.com

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

Q24N
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

Doctors call for urgent voluntary quarantine in Nicaragua

(AFP) Nicaraguan medical unions on Monday called on the population to...

The Nicaraguan Approach: Defy Science with Ignorance at the Helm

The newly released publication of guidelines the government has titled: “White...

MOST READ

Experts to talk about monopolies and oligopolies in Costa Rica

(QCOSTARICA) The Organization for Economic Cooperation and Development (OECD) drew the country's attention in 2014, 2015, 2016 and 2018 due to the high prices...

U.S. plan to return Asian companies to the Americas could have benefits for Costa Rica

(QCOSTARICA) A plan by U.S. President Donald Trump's administration to encourage U.S. companies from that to return their operations from Asia to the Americas...

Legislators pressing for a reduction in the 2021 Marchamo

Legislators are pressing for a reduction in the 2021 Marchamo (circulation permit) due to the vehicular restrictions in place since the start of the...

Caturga asks to allow flights from the U.S. to Guanacaste

(QCOSTARICA) The Guanacaste Chamber of Tourism (Caturgua) is requesting that the Government allow the arrival of tourists from the United States this month of...

Yes, it was possible! INS now offers tourists low rate travel insurance

(QCOSTARICA) After a week of criticism from many sectors, State insurer, the Instituto Nacional de Seguros (INS), announced this Friday the new rates that...

25 years in prison for murder of the Spanish tourist in Tortuguero

(QCOSTARIC) Alvin Stanford Díaz Hawkings was sentenced to 25 years in prison on Monday for killing the Spanish tourist, Arancha Gutiérrez López, on August...

Let's Keep This Going!

To be updated with all the latest news and information about Costa Rica and Latin America.

Article originally appeared on Today 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.