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Germany in the sights of Bogota Region to attract investment 

Date: 23 November, 2022
  • Invest in Bogota was in Hamburg, Germany, where 27 meetings were held with businessmen, interest groups and business development entities to evaluate actions that boost business in the country and the city. 
  • Between 2010 and 2021, 86 new investment and expansion projects arrived from Germany to Colombia; of which 65.1% were concentrated in the Bogota Region. In the aforementioned period, the city received 56 projects for USD 804 million, which generated more than 4,200 jobs. 

Bogotá, D.C., November 23, 2022The agency for the promotion of foreign investment in the Colombian capital, Invest in Bogota, visited Hamburg, a city that has the second most important port in Europe in order to strengthen ties, identify opportunities business, trends and interests of German companies in Latin America. During his visit, 27 meetings were held with key stakeholders from the public and private sectors to seek business opportunities in the sectors of value-added manufacturing, renewable energy with a focus on opportunities in green hydrogen, materials and electronic devices, sustainability, and circular economy as well as medical and pharmaceutical devices. 
 
“During this trip, a robust agenda was put forward, not only focused on evaluating actions that help promote business in the country and the city, but also to give visibility to the immense potential that the Colombian capital has to host operations of international companies that They are looking to expand or enter the Latin American market.” Indicates Isabella Muñoz, Executive Director of Invest in Bogota. “We do this by identifying opportunities for the dynamism of the region, for the improvement and transfer of technology, and to position Bogotá as an export platform, among other aspects,” adds Muñoz. 
 
During its stay in the European country, the agency also participated in the Lateinamerika Tag (Latin America Day), organized by the Association for Latin America LAV (Lateinamerika Verein), which is the network and information platform for people, institutions and companies interested in strengthening ties and generating business and investment opportunities between Germany and Latin America. 
 
The Lateinamerika Tag revolved around the premise of “New approaches for a traditional relationship”, which included conversations about current events in the supply chain and logistics worldwide to review business opportunities and investments in LATAM, the energy market and its chain. of value, as well as the potential of Latin America to become a region where they can be integrated into supply chains due to the advanced and open nature of economies such as Colombia, Mexico and Chile. 

Emphasis was also placed on the need for digitization and the need to find digital solutions in areas such as productivity, communication or process optimization; opportunities in sustainability, innovation and startup ecosystem in Latin America; and about investment and business opportunities in various sectors and interests of German companies. 
 
There, the Invest in Bogota investment promotion team participated in conferences and one-on-one meetings with German companies and institutions where in-depth information was offered on the German and Latin American markets, the platform was used to exchange information and experiences, as well as to identify and contact important actors, with potential to invest in the Bogota Region. 
 
Germany, among the top 5 European countries that invest in Colombia and Bogota Region 
 
Between 2010 and 2021, 86 new investment and expansion projects from Germany for USD 1,382 million landed in Colombia, which generated more than 7,000 jobs. This is equivalent to 3.5% of the projects and 2.0% of the investment amounts that arrived in the country in the indicated period. In the same way, the investments that came to Colombia from Germany represent 8.1% of the projects and 5.1% of the investment amounts coming from Europe. This positions Germany as the fourth country in the region with the highest number of new investment and expansion projects in Colombia. 

65.1% of the investment projects from Germany in the referenced period were concentrated in the Bogotá Region. The city received 56 projects for USD 804 million, which generated more than 4,200 jobs. Regarding the number of investment projects, Germany is positioned as the seventh main investor in the Bogotá Region and as the fourth in the European continent. Germany concentrates 9.2% of the projects and 8.7% of the investment amounts from Europe in the Bogotá Region. 
 
The main sectors receiving FDI projects from Germany in the Bogotá Region are: Transportation (16.1%), Automotive (12.5%), Chemicals (10.7%), Medical Devices (8.9%), Machinery and industrial tools (8.9%), Warehouses and warehouses (7.1%), Textiles (7.1%) and others (28.6%). 
 
From Invest in Bogota, we have identified around 100 companies installed in Bogota with German capital. By income and employees generated, some of the companies that stand out are Bayer; Siemens; Porsche; Daimler; SAPS; adidas; Brenntag; basf; Deutsche Post AG (DHL); Henkel; Merck; Fresenius SE and Ludwig G. Braun (Dialy SER). 

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