28 de January 2019

Invest in Bogota brought in 43 investment projects to the city in 2018

FDI, Foreign Direct Investment
Investment sectors

These projects account for more than USD 258 million in investments and will create approximately 5,000 direct jobs. The United States, Spain and Mexico were the countries that invested the most money in the Colombian capital last year. Since 2007, Invest in Bogotá has brought in 336 projects for approximately USD 2.3 billion.

Invest in Bogota brings investments to the city

Invest in Bogota, the city's foreign investment promotion agency, brought in 43 new investment and expansion projects to the city in 2018. Juan Gabriel Pérez, Executive Director, added that these projects account for approximately USD 258 million in investments for the city.

Some of the companies that decided to set up their businesses in Bogotá in 2018 include Medtronic, the second largest medical device manufacturer in the world that intends to open a Global Shared Services Center in the city; Secuoya Grupo de Comunicaciones, a Spanish audiovisual content producer that decided to set up its hub for Latin America in the capital; and Hubspot, an American digital marketing firm. Amazon, the U.S. giant, also opened a regional customer service center in the city as announced in mid-2018.

Pérez also revealed that the new investment and expansion projects that reached the city in 2018 through Invest in Bogota created more than 5,000 direct jobs. “The type of companies we’re attracting create high-quality jobs, improve the population’s living conditions and bring in their knowledge and best practices to ultimate benefit their sectors”, he said.

As part of its proactive approach, during 2018 Invest in Bogotá conducted 14 sector promotion campaigns in 10 markets in the Americas and Europe, as well as six multi-sector promotion campaigns in countries of the Pacific Alliance, Europe and China.

Which countries have invested the most in the city?

The United States, with 18% of the projects, ranks first, followed by Spain (12%), Mexico (9%) and France (7%). In addition to countries such as Argentina, Brazil, Chile or the United Kingdom, which invest constantly in our capital, in 2018 Bogotá saw a surge of projects from unusual destinations such as New Zealand, China, South Korea and Japan.

Which sectors attract the most investment?

Invest in Bogota has been able to identify the sectors with the most potential to attract investment thanks to the Strategy for Intelligent Specialization, the Bogotá-Region productive development agenda jointly designed by the local government, the private sector and the academia.

Technology-based services rank first in the list of sectors that attracted the most investments in 2018. 23% of the international companies that landed in the city last year are Information Technology and Service Outsourcing (BPO) companies.

Life Sciences, which includes Health Services, Pharmaceuticals, Medical Devices and Cosmetics, ranked second, accounting for 20% of the investments brought in by Invest in Bogotá. Infrastructure (16%), Creative Industries (16%) and Manufacturing and Processed Foods (11.5%) were some of the other sectors that likewise attracted the attention of international investors and companies.

Invest in Bogota, a public-private initiative of the Chamber of Commerce of Bogotá and the Mayor's Office, has facilitated more than 336 projects between 2007 and 2018, accounting for approximately USD 2.3 billion in investments and more than 35,000 new jobs over the same period.