Bogota seeks alliances with embassies and bi-national chambers of commerce in Bogota, to attract foreign investment
Invest in Bogota Is One of the Top Global Investment Promotion Agencies, according to Site Selection Magazine
The Second Foreign Investment Encounter of Bogota, organized to commemorate the eleventh year of Invest in Bogota, focused on foreign investment’s role in Bogota’s infrastructure projects.
The infrastructure challenges currently facing Bogota and the solutions developed to meet these needs were the focus of the Second Foreign Investment Encounter of Bogota, attended by more than 400 foreign investors, representatives of successful cases in infrastructure and international mobility experts to analyze the current status of the sector in Bogota and the impact of the input of foreign companies in the design and development of the city.
During the meeting organized by Invest in Bogota, together with the General Secretariat of the Bogota’s Mayor’s Office, the Bogota Chamber of Commerce and the Bogota Metro Company, the scope and timing of major investments made in the Colombian capital were discussed, such as the construction of the Ciudad Bolivar Cable Car, six ultra-complex hospitals, the refurbishment of Coliseo El Campin and Bogota Metro construction project, considered to be one of the most important in Latin America for the next two years.
The event highlighted the transformation that Bogota is going through to become a smart city, with decisive impacts on urban renewal, mobility and health. Foreign investment plays a key role in this process, since it serves as a tool to find advanced solutions to solve current problems in mobility, urban renewal, safety and the environment, among others, thanks to its contribution in technology, best practices and transfer of know-how.
"The construction of the Bogota subway will be the most important infrastructure project in all of Latin America over the next two years. Our job at Invest in Bogota is to connect the needs and challenges of the city with the know-how of international businesses, and thus boost the economic development of the capital," says Juan Gabriel Pérez, CEO of Invest in Bogota.
Monica de Greiff, CEO of the Bogota Chamber of Commerce added that "we are confident that the Metro project will help position our city as a benchmark for quality of life and attracting human capital, domestic and foreign investment, and innovation."
A successful example is the Ciudad Bolivar Cablecar, being built by the Austrian company Doppelmayr, in collaboration with Constructora Colpatria and Icein Constructores. The project started in 2016 and is 55% complete and ready for delivery in 2018. It will be 3.4 kilometers long, with four stations and 160 cabins, which will benefit 669,000 people living in Ciudad Bolivar, at a rate of 3,600 people per hour each way.
The refurbishment of Coliseo El Campin is also significant, undertaken by the country’s first public-private infrastructure partnership, backed 100% by private capital, between Colombian company Tu Boleta and the Chilean company Inversiones Hiller, well known for the construction of Arena Chile in Santiago. It is projected to be one of the most modern entertainment infrastructures in Latin America, with capacity for 14,000 people and an average of 90 shows per year.
Experiences in the integration of mobility and the commercial revitalization of cities through the subway and its stations as shopping centers were also presented and finally the experience of economic and social transformation through the building of mass transit systems by experts in urban mobility from international pioneering cities such as London, Singapore and Detroit.
The 400 foreign investors, most of them representatives of the construction and infrastructure development industry, had come to the encounter to hear about the technical details of the subway construction project and thus be ready to tender at the public bidding process.
In its eleven years, Invest in Bogota has attracted the installation in Bogota of some 270 FDI projects representing over USD 1.9 billion that have generated over 25,000 direct jobs. Employing its international positioning strategy, it has focused on attracting the very best foreign investment opportunities. In the specific area of city infrastructure and development, Invest in Bogota has supported the arrival of big names such as the English firms Currie & Brown, Bunzl and Mott MacDonald, French company Artelia and Strukton of the Netherlands, all of them leaders in the development of public-private partnerships (PPPs) projects, industrial safety, engineering consulting, global management and project development.
About Invest in Bogota: Invest in Bogota is the private-public agency which, based on a strategy of international positioning, actively promotes foreign investment in the city for generating business, progress and social development opportunities for Bogota and Colombians. During its 11 years, it has been listed by different institutions such as the World Bank (2009) and Site Selection magazine (2015, 2016, 2017) as the best agency at promoting investment in Latin America and the Caribbean. Invest in Bogota is the result of an initiative between the Bogota Chamber of Commerce and the Mayor’s Office.
Juan Gabriel Pérez
Executive Director of Invest in Bogota
Jean Phillipe Penning
Office Advisor of the Alcaldía Mayor de Bogotá
Dawn Low, Managing Director