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For the third year running Invest in Bogota has been recognized as the best agency in promoting foreign investment in Latin America and the Caribbean

May 30, 2017

Invest in Bogota, Bogota Region’s promotion agency has been recognized for the third consecutive year as the best investment-promotion agency of Latin America and the Caribbean, according to the Site Selection journal.

Invest in Bogota, Bogota Region’s promotion agency has been recognized for the third consecutive year as the best investment-promotion agency of Latin America and the Caribbean, according to the Site Selection journal.

In 2017, the ranking of the best investment-promotion agencies, prepared annually by publishers Site Selection Magazine, again put the Bogota agency right up there with the most important in the world, such as InvestHK of Hong Kong, Kotra of Korea, EDB of Singapore, IDA of Ireland, Invest Northern Island of Northern Ireland and Invest in Turkey of Turkey. This time, Invest in Bogota shared the recognition with Panama Pacific, the Panama City agency.

This ranking, by a panel of recognized experts and international consultants, is made based on the assessment of the professionalism and response to inquiries from investors; know-how, team skills and language command; the agency's reputation among companies entering the country for its confidentiality and support through aftercare and reinvestment services; and the ease of access to information it provides through direct channels and website regarding general aspects, sector-specific issues, procedures and permits, among others.

"It’s a very important international recognition which demonstrates that we are complying fully with our mission to attract quality investment to the city and provide comprehensive support to all companies present in Bogota, supporting them in their investment process and business development, " says Juan Gabriel Pérez, CEO of Invest in Bogota.

Invest in Bogota is a joint initiative of the Bogota Secretariat of Economic Development and the Bogota Chamber of Commerce. Last year was its 10th birthday and it celebrated its support for 250 foreign capital projects with investments totaling over USD 1.9 billion and the creation of 23,000 direct jobs.

"Foreign direct investment brings important benefits such as transfer of knowledge and technology, generating quality jobs and boosting the local economy and competition. Invest in Bogota has been a catalyst for the city in the process of attracting foreign investment and has generated an important contribution to the economic development of Bogota," adds Monica de Greiff, President of the Bogota Chamber of Commerce.

"Invest in Bogota is a key pivot in the strategy of international positioning of the city as a competitive territory and as a hub of production and exports for major international companies seeking to provide products and

services to the Colombian market and throughout the continent, generating better quality jobs and sustained economic growth," says Juan Miguel Durán, Secretary of Economic Development.

In 2016, Invest in Bogota attracted 41 projects with investments estimated USD in 257 million and the creation of some 3,400 direct jobs. The United States led the number of investment projects attracted by Invest in Bogota, followed by the United Kingdom, Venezuela, Argentina, and Brazil. The largest investment amounts were made in business services, medical devices, consumer products, pharmaceuticals, software & IT and building materials,

"As part of our strategic plan, we have set ourselves ambitious goals to continue generating a positive impact on the development and positioning of the city, in accordance with the District Development Plan and the Bogota-Region Smart Specialization Strategy," concluded Juan Gabriel Pérez.