It´s a good time to invest in Colombia
Rarely has there been a better time to shine a spotlight on Colombia’s flourishing investment landscape, a 68.4% a spike in foreign investment in the first quarter of 2019, compared to the same period in 2018, as noted by Colombia’s Central Bank, reflects a growing interest in our country and continues to bolster investor’s confidence in doing business with Colombia.
Colombia has one of the most dynamic and competitive economies in Latin America.
Currently, Colombia is the third largest recipient of foreign investment in Latin America and is among the 30 countries that attract the most investment worldwide, as stated by the United Nations Conference on Trade and Development (UNCTAD).
According to The World Bank's Doing Business 2019, the country offers the greatest protection to investors in Latin America and is the fourth with the greatest ease of doing business in the region.
Colombia is a member of the Organization for Economic Cooperation and Development (OECD) and one of the four founding nations of the Pacific Alliance, the most successful integration mechanism in the region.
In addition, Colombia has favorable ratings from the three largest credit rating agencies in the world (S&P, Fitch, and Moody's) and a dynamic domestic market that has fostered the growth of the middle class and increased their purchasing power.
The participation of companies, investors, and strategic partners is essential for the country to continue on the path of economic growth and social development. Colombia is seen as a strategic location for the expansion in Latin America of large multinational companies.
The Colombian government's strategy focuses on attracting mega-projects and anchor companies that have the ability to draw interest of other investors along the value chain, in order to improve Colombia’s position as a destination for investment, business, and exports.
Colombia’s government has recently introduced the Financing Bill, which establishes incentives for foreign companies to invest in the country. These include the progressive reduction of income tax, as well as other benefits that are already underway, such as the free trade zone regime, incentives to hire people with disabilities, or VAT and tax exemption on goods and capital imports, among others.
Colombia strives to increase the arrival and flow of foreign direct investment, as well as its diversification across regions and non-mining and non-energy industries, taking advantage of the variety of investment opportunities that Colombia offers in various sectors.
For example, in the infrastructure sector, there is room for the modernization of roads, railway systems, river transport, and airport systems.
In the field of agribusiness, Colombia has more than 32 million hectares available to grow fruits, vegetables, cocoa, special types of coffee, teas, and other products.
In the industrial sector, there are currently opportunities in vehicle assembly, auto parts, cement production, ceramic materials, and prefabricated homes, among others.
There is also potential in the ICT services industry, in which Colombia stands out as a BPO services operator, as well as in Shared Services Centers and application development.
Given Colombia’s natural richness and biodiversity, there are also opportunities for the cosmetics, chemicals, and life sciences sectors.
In the tourism sector, the country has a wide range of possibilities for hotel and tourism projects, given the great variety of regions, climates, landscapes, and business niches.
The government of President Iván Duque is focused on developing and consolidating current investment and in attracting key companies. Procolombia aims to boost Colombia’s positioning as a hotspot for investment and exports that generate greater entrepreneurship and opportunities in shaping the future of our country. It’s a good time to invest in Colombia.
For more information, please visit www.procolombia.co and www.investincolombia.co
