18 de January 2021

30 investment projects arrived to Bogota last year supported by the city’s IPA

Foreign Direct Investment

Investments, which exceed 114 million dollars, will generate about 5,000 direct jobs in the city. The United States, Argentina, Australia, and India appear as the countries from which most projects arrived, supported by the investment promotion agency of Bogota.

2020 investment projects

During 2020, the investment promotion agency (IPA) Invest in Bogota supported the arrival of 30 new investments and expansion projects to Colombia’s capital, investments that will generate more than 5,000 direct jobs for the city.

Despite the economic difficulties experienced during 2020, Bogota continued to be a destination for foreign investment. Last year alone, the investment city’s IPA, an initiative of the Bogota Chamber of Commerce and the Mayor's Office, attracted over 114 million dollars in investments for the capital.

"In a year in which job creation and economic reactivation were a priority, the foreign investment projects that we supported are generating an estimated 5,000 jobs for the city," said Juan Gabriel Perez, Executive Director of Invest in Bogota.

The analysis of investment projects shows that the information technology and outsourcing services sectors were the ones that attracted most new business or reinvestment (8 in total), with notable cases such as the technology companies Mercadolibre and Trajectory Inc., as well as the BPO Outplex and Apex Americas.
In the case of Mercadolibre, the company announced the launch of its first Technology and Innovation Center in the country, which will become the engine that will drive the development and growth of the company's operation in the local and Latin American markets.

In addition, the life sciences sector (which includes industries such as medical devices, cosmetics, pharmaceuticals, and health services) attracted seven investment projects, while the creative industries, value-added manufacturing and infrastructure sectors contributed six, four and one project, respectively.

United States, Argentina and Australia, main markets

The United States appears as the country from with the largest number of investment projects in Bogota (8 in total). Argentina and Australia (with four each) appear in second position, followed by India (3), United Kingdom (2) and Canada (2).

“The workforce in Bogota is very well recognized, with very good people at what they do. The talent found in the city and in the country, is highly trained, hard-working and with a great “thirst” for job learning, highlighted recently Andrés Velásquez, manager of the American audio studio One Thousand Birds (OTB), that started operations in Bogota last year.

Another example of foreign investment projects that arrived in the city in 2020 is Shelton's Coffee, a Colombian-English coffee company with more than 40 years of tradition that in 2016 began a process of expansion in Hong Kong, Lebanon, Denmark, and Qatar, and that recently moved its production plant to Colombia to serve the markets of Latin America, the United States and Canada.

“In the midst of a year full of challenges and in which the world´s economy was affected by the pandemic, having 30 companies that trusted Bogota and decided to invest in the city, reassures that many of the strengths that have made this capital the Latin America's main investment destination are still in force,” concludes Juan Gabriel Perez.