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Bogota ranks second in the world at attracting investment

December 11, 2017

·Invest in Bogota, Bogota’s investment promotion agency, has been ranked second in the world by fDi Intelligence in returns per personnel.

·The ranking prepared by fDi Intelligence, the Financial Times’ area specializing in foreign investment, took into account the strategies used by 117 different cities to attract investment.

The agency responsible for attracting foreign direct investment to Bogota, Invest in Bogota, ranked second in the fDi Strategy Awards 2017 in the category of the best return on investment per personnel. The world ranking, which is now in its second version, was developed by the area of the Financial Times that specializes in foreign investment.

To grant this distinction, jurors analyzed the budget and human talent dedicated by the institutions to attracting investment in 117 different cities in regard to new projects captured in the past year. In this sense, they assessed the effective use of resources and gave a rating of 0 to 10, with 10 being the most effective strategy.

For Juan Gabriel Pérez, CEO of Invest in Bogota, this award recognizes the work being done by the agency since 2006 and urges them to continue to make efforts to position Bogota as a business hub in Latin America. "We have a highly specialized team composed of ten officers focused on attracting foreign direct investment to five strategic sectors of the city. In eleven years, we have supported more than 280 greenfield and expansion projects worth over USD2 billion, bringing more than 33.000 new jobs to the city," says Pérez. 

Invest in Bogota uses a methodology borrowed from the World Bank with which it supports foreign companies seeking business opportunities in the city. Some of the companies that installed or expanded their operations in Bogota in 2016, with the support of Invest in Bogota, were Mercado Libre (Argentina), GAES (Spain), Air Liquide (France), Endava (UK), HBO (United States), Tigre (Brazil). In 2017, the entity facilitated, among others, the arrival of WeWork (United States), Sonda (Chile), Gensler (United States), Rockstart (Netherlands) and Blanclabs (Canada).

"We have a very competitive interdisciplinary team that distinguishes itself by generating specialized high-level analysis; it has communication skills in several languages and is aligned with the strategy of smart specialization that marks the roadmap for the productive development of the Bogota-Region,” explains Pérez.

In 2018, Invest in Bogota’s activities will be focused on the areas of life sciences (pharmaceuticals, medical devices, health services), technology platform services (BPO/KPO outsourcing services, software development and IT), light manufacturing (processed foods and construction materials), infrastructure (sustainable construction) and creative industries.