16 de June 2021

International companies remain optimistic about their operations in Bogota

Foreign Direct Investment
Bogota's News
investment news

A perception survey carried out by Invest in Bogota among 65 international companies allowed us to identify the level of impact that businesses have suffered due to the national strike. Although the situation has generated logistical difficulties that have especially impacted mobility for the development of the operation of their businesses, 85% of the companies are optimistic or neutral regarding the performance of their company in Bogotá or its installation in the city.

International companies in Bogota

In order to measure the level of impact on foreign companies established in Bogota have suffered during the national strike, and to identify strategies to promote the economic reactivation of Bogotá Region, the foreign investment promotion agency Invest in Bogota recently conducted a survey with 65 international companies that operate or are in the process of setting up in the country's capital.


One of the main findings of the survey is that, despite the current situation, international companies continue to find Bogota as an attractive investment destination and are confident about the performance of their operations in the capital.


In total, 97% of the established entrepreneurs continue to consider Bogota Region as a destination for the development of their operations. In addition, 85% of companies are optimistic or neutral (in expectation) regarding the performance of their company.


The survey, which included companies in sectors such as infrastructure, technology, creative industries, pharmaceuticals, retail, processed foods and health services, among others, shows that the strike has had a negative impact on the operation of 52% of these. The greatest difficulty experienced was related to logistics in the mobility of workers, delivery of products, fulfillment of commitments and hiring processes related to the impossibility of conducting medical examinations, among others.


When consulted about the initiatives, mechanisms, or strategies that they consider useful to promote business activity in the Bogota Region, businessmen highlighted the need to promote information and cooperation services with businessmen and strategic actors for the identification of projects, opportunities, and benefits of invest in the city, in addition to the generation of economic incentives and for the creation of jobs.


"This exercise, in addition to showing us that companies maintain their confidence in the city, helps us to identify what actions we should promote as an investment promotion agency to mitigate the negative effects that this situation is having on international companies", stated, Mauricio Romero, acting Executive Director of Invest in Bogota.


Companies belonging to the commerce, manufacturing, and life sciences sectors: (pharmaceuticals and health services) appear to be the most affected because of the national strike, taking into account that their operations depend to a great extent on the transport and logistics of their goods.