Technology and agroindustry, most competitive sectors to attract investments from Brazil into Bogota
Spain has moved into second position from fourth in the ranking of countries having the largest investments in new projects in Bogota over the past 10 years. This rise reflects the large inflows of Spanish investment funds into the city during 2013.
This past year, Spain emerged as the country that invested the most in Colombia’s capital, at an estimated US$ 673 million, surpassing monies flowing in from the United States and France during the same period. This amount was 300% higher than that recorded for 2012, and resulted in the generation of an estimated 4,357 jobs.
Juan Gabriel Pérez, Executive Director of Invest in Bogota, explains that “Over the past ten years, Bogota has become a magnet for companies from Spain. Also, between 2003 and 2013, Spain became the second country in terms of its contribution to investment flows into Bogota, at 14.1% of all capital investments, following the United States (at 31.1%).”
Pérez further states that “Bogota is an ideal location to invest, due to its access to markets, strategic location, skilled labor, competitive costs, business environment, operational environment, generous incentives, and quality of life. These are some of the main factors that make Bogota an emerging business hub, providing 24% of the national GDP and 54% of all financial transactions in the country.”
These traits open up significant investment opportunities in different sectors. The agency’s Executive Director explains that “The Colombian Capital has prioritized certain strategic, high growth sectors such as: i) Agroindustry and Biotechnology (natural and synthetic ingredients and the fruits and vegetables industry); ii) Services for the oil and gas industry; iii) Technology based services (BPO, IT, and digital contents); iv) Light manufacturing (construction materials, auto-parts); and v) City infrastructure projects.”
Between 2003 and 2013, Spain has been second in terms of investment flows into Bogota: