Date

16 de Marzo 2018

Invest in Bogota handles 30% of Bogota investment projects

Bogota investments in 2017 were around USD 2 billion.

Bogota investments

The capital has been able to maintain investment levels and attract businesses, despite the economic adjustment experienced by the country in 2017, with the possibility of capturing even more resources in 2018, according to estimates by Juan Gabriel Perez, CEO of Invest in Bogota.

How much was invested in Bogota in 2017?

We estimate that USD 2 billion arrived in 2007, which can be verified, and since 2007 approximately USD 21 billion have flowed into Bogota; we’ve supported more than 300 investment projects with the creation of over 30,000 direct jobs.

And how has the agency been involved?

If you look at the overall investment, more than 110,000 jobs have been created during these years, and more than 900 projects, so Invest in Bogota participated in one of every three projects arriving in the city. We don’t wait for investors to come to us.

What’s the key?

We don’t alter our plans when there are changes in the administration, we prepare our strategy at the beginning of the first year of the incoming government, which allows for a long - term plan for the city; we move ahead hand-in-hand with the administration, with what it emphasizes and prioritizes. Bogota is thinking more and more in the long term and that's positive.

What sectors have you identified?

We looked closely at what we will be good at over a 30-year period and we have five areas of specialization in the productive sectors, two in services, taking into account that 62% of the city’s GDP comes from services. We have manpower and connectivity, which is very important. The other thing has to do with the orange economy, together with manufacturing, connectivity and city projects.

How is it going with this administration?

Very well, one example is the city subway. We have approached the suppliers that will be involved in this massive USD 4.5 billion project; we’re committed to urban renewal. We have mapped out 38 projects for over USD 12 billion. We are right in the middle – in between the District and businesses.

How easy is it getting companies and the Mayor’s office together?

That’s our job, we are key to presenting companies and solutions, so they can prepare for the bidding processes. It’s putting things on the table transparently.

Are people interested in Bogota?

I think there’s a very big appetite for the city; its strength is that the sectors are dispersed. Today's economy depends on its business mass. We have about 450,000 companies and we are the city with the most entrepreneurs.

How many companies are born every year?

About 70,000 companies are born annually. Maybe they’re not all around after five years, but the city is destined to become the capital of entrepreneurship in Latin America.

 

Source: La República

Inputs from Invest in Bogota