TBY talks to Juan Gabriel Pérez, Executive Director of Invest in Bogotá, on the business environment in the capital, attractive sectors, and the challenges facing interested investors.
Bogota is the city that receives most greenfield investment in Creative Industries throughout Latin America and the Caribbean. This is shown in the study conducted by fDi Markets which emphasizes that since 2005, the capital has received USD 488 million - more than Sao Paulo, Buenos Aires, Mexico City or Rio de Janeiro.
The hard work being done by Bogota, Cali and Medellin to attract direct investment to their territories has shown significant results.
Colombia's capital, Bogota, was honored in the annual ranking of the Financial Times’ fDi Intelligence Research Center as the city with the best investment promotion strategy in Latin America and number 6 of the continent.
In the last decade, greenfield (new) foreign direct investment generated on average in Bogota, more than 4,800 direct jobs per year, positioning it as the third largest city in Latin America, after Sao Paulo (7,596) and Mexico City (5,869).
Companies with foreign capital supported by Invest in Bogota have generated more than 15,000 direct jobs in Bogota since the Capital’s investment promotion agency began operations in 2007.
Bogota is the most attractive destination for non-oil Foreign Direct Investment in Colombia, and is the city that focuses the highest flow of capital resources towards added value sectors. The inflow of foreign investment fosters economic development of cities; it promotes the generation of qualified labor, technological and knowledge transfers, and productive leveraging; it also increases productivity and competitiveness of local businesses. The improvement of Bogota's competitiveness in terms of its business environment, quality of life and incentives on investment, has increased investor
The evolution of Foreign Direct Investment (FDI) varies in accordance with the global economic uncertainties, and the deceleration of certain emerging economies, mainly Europe.