Sectors with the highest foreign investment in Colombia
Colombia is a country full of opportunities in several investment sectors. The national economy is robust and dynamic, which has given confidence to businesspeople from other countries to come to Colombia and discover the competitive advantages that many industries offer within the national economy.
Find out here which investment sectors have received the highest foreign direct investment from the beginning of 2023 to date, and which countries worldwide have invested the most in these Colombian sectors during that period, boosting the national economy and demonstrating the confidence they have in the industries of the country of beauty.
The five sectors that received the most foreign direct investment
These are the five investment sectors that received the highest foreign direct investment between January 2023 and June 2024:
- Renewable energies received USD 1920 million in foreign direct investment.
- Food and beverages received USD 706 million in foreign direct investment.
- Communications received USD 586 million in foreign direct investment.
- Transportation and storage received USD 146 million in foreign direct investment.
- Software & IT services received USD 123 million in foreign direct investment.
This shows that one of the economic sectors that has received the greatest boost from international is the renewable energies sector, an area in which Colombia stands out due to its territorial conditions and strategic geographic location.
On the other hand, the main investors in greenfield projects in Colombia during January 2023 and June 2024 come from the United States, Spain, Mexico, Canada and France. These are countries with which Colombia has a healthy commercial relationship, as they trust in the national economy partly due to the country's natural wealth and the talent of Colombian workers.
These investors have already discovered the advantages that Colombia offers. Now it is your turn to discover what makes these sectors so special in the country.
1. Renewable energies
Thanks to Colombia's geographical position and the diversity of its land and thermal floors, the country has a great potential for the development of the renewable energy industry. This sector received the most foreign direct investment between January 2023 and June 2024, with USD 1920 million.
With a level of solar irradiation 60% higher than the world average, winds speed of 9 m/s, twice the world average, and being the sixth country with the largest renewable water resource in the world, Colombia has the necessary conditions to stand out strongly in this field.
In addition, green hydrogen production projects are already being developed, which is great news for investors in the sector, as Colombia has the potential to produce one of the most competitive green hydrogen worldwide. Therefore, investing in this sector means investing in that potential.
2. Food and beverages
This sector was the second-largest recipient of foreign direct investment, receiving USD 706 million between January 2023 and June 2024. This reflects its potential within the agribusiness sector in Colombia. The more than 42 million hectares of agricultural frontier, rich in fertile soils, plus the country's experience in the production of processed foods and raw materials, make this sector stand out in terms of investment.
Several international companies have already established themselves in the country, such as Nestlé, which has found in the country the necessary talent and natural wealth for the progress of its business. In addition, Colombia's geographical position, coupled with the 18 trade agreements that the country has, allows companies like Nestlé to bring their goods to a market of more than 1.5 billion consumers, starting with the countries of the region.
Find out more in the Why Colombia Podcast’s episode about Nestlé here.
3. Communications
The infrastructure projects of the country of beauty has boosted this investment sector, making it the third-largest recipient of foreign direct investment in Colombia between January 2023 and June 2024, receiving USD 586 million.
Colombia stands out, for example, in terms of internet connection through submarine cables and has recently advanced in the construction of the necessary infrastructure to better connect its domestic market with more than 50 million consumers. According to the Colombian Communications Regulatory Commission, by December 2023, the penetration rate of mobile Internet service was in 86.09 per 100 inhabitants, 3.25 more than the figure recorded in 2022.
4. Transportation and storage
This is other of the investment sectors driven by the national infrastructure, since it is thanks to this that the country has managed to stand out in this field, instilling greater confidence in investors from other countries who have found potential in the transportation and storage of goods through the diverse offer within this sector.
Partly thanks to this, the sector became the fourth highest foreign direct investment between January 2023 and June 2024, receiving USD 146 million.
5. Software & IT services
The talent of Colombians has turned the Software & IT Services industry into the fifth sector with the highest foreign direct investment in the country between January 2023 and June 2024, receiving USD 123 million. In addition, with an ecosystem that bets on digital transformation as the driving force of the country's transformation, Colombia is today one of the leading providers of technology-based services in the region.
Invest in Colombia
These are some of the advantages and opportunities that international investors have found in Colombia for potential investment, a country that welcomes them and offers several benefits for certain investments. Invest in Colombia and discover the benefits and advantages the country has for you. Find out more here.
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