What is the best Free Trade Zone in the Americas?

Bogotá's Free Trade Zone is the Best Free Trade Zone in the Americas

The FDi Intelligence awards recognize the world's most promising free trade zones. The Bogotá Free Trade Zone, strategically located in the Americas, is considered the most important industrial and services park in Colombia. It currently has 200 qualified companies and 200 support companies, comprised of companies in the logistics sector (53%) service companies (27%) commercial companies (12%) and industrial sector companies (8%) which generate more than 84,000 jobs, directly and indirectly.

Twenty-six percent of these companies represent multi-national companies that have found in the Bogotá Free Trade Zone the right business eco-system for the development of their business. At the end of September 2017, the park had managed more than 179,374 foreign trade operations, which is equivalent to almost USD $7bn in terms of Free on Board (FOB) value.

"This is recognition of the work that the Bogotá Free Trade Zone has been undertaking for the past 20 years in order to offer the greatest number of services to our clients," said Juan Pablo Rivera Cabal, President of the ZFB Group.

"Being recognized as one of the Best Free Trade Zones in the Americas will enable us to have a significant impact on the foreign market, where investors can find integral strategic allies for the installation and development of their business in Colombia, ensuring greater competitiveness for their operations with all the benefits free trade zones bring."

(You can register a foreign investment in Colombia here)

Some additional factors that have contributed to make the Bogotá Free Trade Zone the Best Free Trade Zone in the Americas are:

• Its certification in the Quality Management System ISO 9001: 2008.
• Its ISO 28001:2007 certification, norm-orientated to the management of supply chain security, which will allow the free trade zone to become certified as an Authorized Economic Operator (AEO)
• Availability of services such as Customs on-site.
• 24-hour operation, in-house logistics operations and the monitoring of operations through the proprietary software PICIZ, which is used by 42% of all the free trade zones in Colombia.
• The Bogotá Free Trade Zone was recognized as a worldwide reference for free trade zones within the context of its 20 years of operation, in the recent World Free Zone Congress of the World Free Zone Organization.

As specialists in services for the outsourcing industry, BPO, KPO and ITO, the Bogotá Free Trade Zone emphasizes that the most important element is to have a strong knowledge of the business and understand the market's needs. That's why it has turnkey solutions through the development of the ZF Towers Services & Technology Park, the most important technology and services park in the country, which covers 64,000 square meters within the Bogotá Free Trade Zone, the employability of 13,300 people belonging to this sector, the operation of 32 service and technology companies, turnkey solutions for jobs and the free trade zone's initiatives.

"Our building, ZF Towers 135, is the only one within a free trade zone in Colombia to have the LEED GOLD certification, which provides flexible, scalable and turnkey real estate solutions for BPO, ITO and KPO businesses, the president of the ZFB Group said.

"And for their part, the Bogotá Free Trade Zone Data Centers have the TIER III Certification in design and construction granted by the Up Time Institute."

In the categories of Best in Education and Training and Best Language Program, Unifranca was highlighted, the educational program that is led by the Bogotá Free Trade Zone in partnership with selected universities and SENA, which consolidates a University-Company-State training and skills strategy to train workers at the industrial park. Additionally, the ZFB Bilingual Program seeks to support the development of second language skills and the competitiveness of companies in the Bogotá Free Trade Zone through short courses, English courses and technical, technological and professional training.

Learn more about Colombia's Free Trade Zones and everything you need to know to make an investment in the country, with the support of PROCOLOMBIA.

November 22nd, 2017