Advantages of investing in biotechnology in Colombia
Colombia is a country full of opportunities for investors in different industries. Such is the case of biotechnology. Investing in this sector in the country will boost your business. Discover here three advantages of investing in biotechnology in Colombia.
What is biotechnology?
Let's start by defining what biotechnology is. In this sector, living cells and organisms are used to create or modify processes for the production of certain goods. This affects several industries, such as agriculture and medicine, among others related to biological sciences.
With this, the aim is to have a higher production capacity and create more sustainable processes for businesses and biotechnology companies, which will undoubtedly boost your investments in the country of beauty. Learn about the advantages that the country offers.
Advantage 1: Colombia is a megadiverse country
Colombia's biodiversity is one of the great advantages that the best biotech companies will discover in the country. The national territory is considered megadiverse, which is partly due to its strategic geographical location and to the five thermal floors that compose it. The country has access to large oceans and is marked by the presence of the Andes Mountains and the Amazon rainforest, among other remarkable ecological treasures. This biodiversity, coupled with fertile lands, allows the country to develop millions of hectares of agricultural frontier, driving the development of agribusiness in the country. This sector can be integrated with biotechnology, since the modification of cultivation processes can make the land more productive, reducing the climatic impact of agriculture.
In Colombia you can find both the raw materials for biotechnology and a developed industry that will undoubtedly boost your investments in the country.
Advantage 2: Colombian talent
The hallmark of the Colombian industry is its talent. Here, you and your business will be able to find a qualified workforce for the biotechnology sector and for many other sectors. This is why international companies leaders have highlighted the national talent as one of the main advantages that Colombia has in our podcast Why Colombia.
Listen here to the episode of Why Colombia with Ana Dolores Román, Colombia General Manager at Pfizer.
We owe part of this talent to the quality of education in Colombia. According to the QS World University Ranking, there are four Colombian universities among the best in Latin America and the world.
The first one is the Andes University, ranked seventh in the region and 179th in the world; the second is the Colombia’s National University, ranked 12th in Latin America and 219th in the world; the third is the Pontificia Universidad Javeriana, ranked 18th in the region and 377th in the world; and finally, Antioquia’s University, which is ranked 19th in Latin America and 791-800th in the world.
These universities prepare Colombian professionals and, in certain cases, encourage research in fields such as biotechnology. This will provide the knowledge and experience necessary to excel in this industry.
This has favored sectors such as health sciences, where the use of living cells is so important for its development. The country stands out in this industry within the region thanks to recognized health institutions, such as INVIMA, and the competitive costs it offers, which has already attracted the attention of multinationals such as Pfizer, Renal Care Services, and Novartis, among other large companies that are already investing in the country.
Advantage 3: From Colombia you can position your business in markets
Colombia is the ideal destination to position your business both in the domestic and regional markets. There are more than 50 million consumers in the country, which makes it a high-demand market for several industries.
In addition, the country is strategically located in the heart of the Americas, which gives it easy access to other countries in the region, transporting goods in competitive times. From Colombia, your business can reach destinations such as Brazil, Mexico, Peru, Ecuador, and Panama, among many others.
This is reinforced by the trade relations that the country has developed with other destinations in the world. With its 17 trade agreements, it can reach more than 1.5 billion consumers worldwide, which is an advantage that your business can take in the country of beauty.
Biotechnology investment in Colombia
These are just a few of the many advantages Colombia offers for the biotechnology sector and beyond. We invite you to explore investment opportunities in the Country of Beauty and discover how Colombia can help drive your business forward. Here you will find benefits such as preferential tariffs for sustainable investments and a robust network of institutions—including ProColombia—ready to support you at every step of the process.
Find out more about investing in the country here.
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