11 de May 2016
Bogota Region is the preferred destination for South American investors
Over the last decade, the Bogota Region has established itself as the most frequent investment destination of its neighbors, surpassing large cities such as Santiago, Buenos Aires, Sao Paulo, Lima and Caracas.
Besides having a strategic position that allows easy access to international markets, the Bogota Region has offered new business opportunities for regional investors looking to tap the growing domestic market and the competitive advantages in terms of human talent, connectivity, legal stability and a competitive business environment.
"The international positioning strategy we manage at Invest in Bogota, where we have proactively approached our regional neighbors to promote the value of the city, has shown important results such as these. Bogota Region is not only one of the most frequent destinations of intraregional investment, it is already highlighted by rankings such as fDi Magazine, which awarded it second place among favorable business environments, second only to Sao Paulo, and beating Buenos Aires and Rio de Janeiro," says Juan Gabriel Pérez, CEO of Invest in Bogota.
Among its neighbors, Chile is the country that has invested most extensively in new or greenfield projects in the region, with more than 31 investment projects in the last 10 years, mainly in consumer products and communications services. In 2015 alone, five new investment projects worth USD 148 million were begun, generating almost 2,000 new jobs. Brazil is second, focusing on the plastics industry and financial services; followed by Argentina in financial services and IT software and services, Venezuela in communications and Peru in consumer products.
Bogota’s dynamism has allowed to attack the different investment interests of these five countries.
It is precisely to promote this intra-regional presence in Bogota that a multi-sector mission was launched this week by Invest in Bogota and the Bogota Chamber of Commerce, supported by the ProColombia offices in Peru and Argentina, to strengthen the positioning of Bogota among these countries’ investors.
"In recent years Bogota has undergone a process of urban, economic, social and cultural transformationand is now the scenario for major international events. The interinstitutional agenda in Buenos Aires and Lima will focus on issues of environment for improving competitiveness and promoting investment in the Bogota region. It is conducted within the framework of a city marketing strategy that seeks to highlight Bogota’s positive attributes and strengths and promote its international position and attract investment, business, events and tourism," says Mónica de Greiff, President of the Bogota Chamber of Commerce.
In the last 10 years Bogota has received at least USD 205 million in greenfield FDI from Argentina with 25 projects. Peruvian investment in the same period has been USD 110 million in eight projects.
"Peru and Argentina are important in processed foods, cosmetics and technological- and financial-based services. With this mission we hope to raise awareness among even more investors from these two countries regarding the competitive advantages that Bogota offers within the region and encourage them to locate their projects in the city or extend present investment projects and thus generate productive links that stimulate the economic and social development of Bogota Region," Pérez adds.