The Colombian capital’s investment promotion agency is promoting this week an agenda that includes meetings with companies from the creative and manufacturing industries, as well as investment funds and startups with potential to land in the city. U.S. investment in Bogota was close to USD 6 billion in the last decade.
Bogota continues its search for new investments to boost economic development and the generation of skilled jobs in the capital of Colombia. With that goal in mind, the investment promotion agency Invest in Bogota is advancing this week an agenda focused on the U.S. market, where the city’s strengths will be presented to representatives of companies in creative industries and value-added manufacturing, as well as with investment funds and entrepreneurship.
“It is clear that the United States is the best market for attracting business to Bogota. In this context, Miami is an epicenter for companies and investors that have a regional vocation and that can find in the Colombian capital the perfect destination for the development of their operations in the continent, including nearshore strategies”, highlights Isabella Muñoz, Executive Director of Invest in Bogota.
As part of its investment attraction strategy, Bogota is positioning itself as an ideal destination for the relocation of operations (nearshore), especially for IT and BPO, life sciences and value-added manufacturing companies from countries such as the United States.
The agenda, which takes place in Miami (Florida) from May 2 to 5 and is supported by ProColombia, includes participation in the First Annual Diversity Investing Symposium. This is a space to discuss the importance of investing in diversity, the role of women in investments in Latin America and investment trends related to ESG (Environmental, Social and Governance).
US, a key market for Bogota
Historically, the United States has been the market from which the largest number of new and expansion Foreign Direct Investment projects arrive to the Bogota Region. Figures from Invest in Bogota show that between 2011 and 2021, more than 330 projects from this market arrived in the country’s capital, with an estimated investment of close to USD 6 billion.
Last year alone, when Bogota Region received a total of USD 1,551 million in FDI through 115 investment projects, more than 34% of such investments had the United States as their country of origin.
In addition, through its foreign investment support, Invest in Bogota has attracted more than 80 projects for some USD 600 million from the United States in the last decade.
One of the most recent examples of investment from the United States that has come to Bogota is that of Nisum, a digital consulting company that in the next three years expects to invest USD 5 million for its operation in the city.
The software and IT services sector appears to be responsible for a large part of the investments coming to Bogota from the United States, followed by the corporate services sector.