As of the first six months of 2021, the investment agency ‘Invest in Bogotá’ has announced that after consolidating information from the Colombian capital and the surrounding municipalities of Cundinamarca; it has been determined that a total of US$481 million dollars in foreign investment has been injected into the Bogotá Region.
The analysis also shows that these investments have resulted in the creation of 6,510 direct jobs via 39 projects. The nature of these new jobs is concentrated around the communications sectors (34%), glass and ceramics (16%) and coal, oil and natural gas (13%).
When asked about the nature of this sudden economic growth, executive director of Invest in Bogotá, Mauricio Romero had this to say. "The economy of Bogotá Region is in recovery and foreign investment should be one of the pillars on which economic growth is based in the new scenario we are facing." Over the course of the interview, Mr. Romero claimed that these international projects that the capital has attracted will directly impact the men and women who tend them. Not only will it raise their quality of life, but it will also provide an opportunity to generate knowledge and strengthen the fabric of local business.
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The country that the Colombian Region has the most to be thankful for is the United States with 65% of total investment. Italy and Mexico follow closely behind with 13% and 5%, respectively. In terms of the projects themselves, the US spearheads the group with a total of 16 projects. Both Mexico and Argentina hold four and three apiece.
Based on the figures that have been tallied in the first half of the year alone, it is projected that by the end of 2021, the city's investment promotion agency estimates that the Foreign Direct Investment (FDI) will grow to 39% compared to 2020. This amount will exceed $1,200 million dollars, a significant amount in contrast to the previous year. As part of its strategy to attract new FDI projects to the capital, Invest in Bogotá carries out actions such as investment promotion campaigns in strategic markets. This strategy has yielded good results in 2021 and will include the city's participation on the international stage.
A digital tool that allows consulting the behaviour of FDI in the Bogotá Region
Invest in Bogotá has recently unveiled a new digital tool that allows the public to consult the behaviour of FDI in the Bogotá Region over a period of 10 years.
This development includes information on each sector and the projects that correspond to them, the countries from which these resources come from and the areas of the Bogotá Region that have been impacted by these investments.
With this tool, ‘Invest in Bogotá’ hopes that investors, market analysts, decision-makers, journalists and any other player in the economic landscape will be well-informed on the investment dynamics and have true, relevant and public information at hand in a timely manner.
