25 de Octubre 2018
Foreign Direct Investment in Bogota could exceed $2.100 billion USD in 2018
According to estimates from Invest in Bogota, new and expansion investments that have arrived in the capital between 2007 and the first semester of 2018 amount to more than $21.2 billion USD or approximately 39% of the national total. There are five sectors with the greatest potential for attracting capital for the rest of the year and for 2019.
Bogota will continue being the country’s main destination for Foreign Direct Investment (FDI) for 2018 with an amount that, according to estimates from the Market Research and Intelligence department of Invest in Bogota, will reach $2.169 billion USD or a growth of 9.7% with respect to last year according to Juan Gabriel Pérez, Executive Director of the entity for promotion of investment in Colombian capital.
Pérez said that this behavior is associated with the reactivation of investment projects and less economic and political uncertainty. The figure was made known during an event with the participation of journalists from the Association of Economic Journalists (AEJ), which is currently celebrating its tenth anniversary.
The countries with the greatest foreign investment potential for the city continue to be the United States, Germany, Spain, Brazil, and Mexico. In addition, Asian economies such as China, Japan, India, and South Korea, which are expanding their operations and mobilizing capital to carry out merger and acquisitions operations in diverse markets, are expected to continue viewing Colombia and Bogota as investment destinations.
In what remains of the year and for 2019, five sectors have the greatest potential for the attraction of foreign investment for the Colombian capital: life sciences, technologically-based services, light manufacturing, infrastructure and creative industries. These sectors are aligned with the city’s Intelligent Specialization Strategy.
“During what remains of the year we hope to continue supporting the consolidation of Bogota as an ideal destination for high added-value production projects. During 2018 we have already received projects such as Amazon’s regional customer service center, the Latin American hub for the Spanish company Secuoya, or the first regional office of the US company Hubspot. These projects support the economic growth of the capital and the quality of life of its inhabitants,” Pérez added.
More than 1,000 Investment projects
In addition to the investment expectations for 2018, Invest in Bogota highlighted that the city had already had more than 1,000 investment projects between 2007 and the first semester of 2018. During this period, the capital received more than $21.2 billion USD in new and expansion FDI, which is equivalent to almost 40% of the total for the country.
For this period in which the arrival of new projects to Bogota entailed the creation of more than 118,000 new job positions, three countries focused half of the new and expansion FDI projects received by Bogota-Region. These nations were the United States (26%), Spain (16%), and France (7%). On the other hand, FDI projects focused mainly on company and business services (15%), software and IT services (14%), communications (7%), financial services (7%), and consumer products (6%).