Mexico’s aerospace manufacturing industry has been built in part on the success of Bombardier in Mexico. A strategic pillar of the Mexican aerospace supply chain and with a bold, long-term investment trajectory, Bombardier in Mexico has redefined the aerospace landscape in Mexico since its arrival and subsequent growth in the region. In 2006, Bombardier selected Querétaro as the site for the initial facility. This decision would not only have a significant impact on the company itself but also on the wider regional aerospace industry.

Bombardier in Mexico has continued to scale its operations, investing US $500 million in Querétaro to date and employing over 2,200 people directly, and emerging as a key economic actor in the region, bringing with it an advanced, technology-driven manufacturing platform.

Bombardier in Mexico and Aerospace Manufacturing in Querétaro

Querétaro has risen in recent decades to become one of Mexico’s leading aerospace hubs, and Bombardier has played a critical part in that story. Today, about 80 aerospace companies call Querétaro home, and the region is home to a mix of original equipment manufacturers (OEMs), tier-1 and tier-2 suppliers, research institutions, and special-service providers. In fact, when Bombardier first set up operations there in 2006, it effectively launched the so-called Querétaro Aerospace Cluster. The strength of the cluster has had much to do with the kind of public-private partnerships that create demand-pull for sector development and sustain competitiveness over time. There are training/research universities specialized in aerospace; there is government support at the state level; and there is a trend of global companies setting up shop with advanced aerospace-manufacturing capabilities.

Bombardier in Mexico has been at the center of this. The Querétaro aerospace cluster is integrated with the supplier base, academic centers and other research institutions, and government actors. For example, the Universidad Aeronáutica en Querétaro (UNAQ), a local higher-education institution that opened its doors in 2007, was created with the support of the government of Querétaro and private-sector partners, and one of its initial objectives was to provide the necessary talent to local industry players such as Bombardier.

Supplier Development, Resilience, and the Supply Chain

Bombardier’s strategy in Mexico goes beyond manufacturing and capacity building to supplier development, innovation, and building resilience in aerospace supply chains. That was reflected in a recent event, the Bombardier Supplier Symposium (October 21-23), which the company organized in Querétaro in late October 2025. The symposium brought together Bombardier in Mexico, strategic suppliers, local government, academia, and the larger supply-chain ecosystem to advance innovation, resilience, and the pursuit of excellence in Mexico’s aerospace sector.

Participants discussed: How the aerospace industry could be strengthened through strategic partnerships in the supply chain, supplier development, new entrants to the tier-1/2 supplier base, and new sources of funding and financing for aerospace companies in Mexico. On the second day, Bombardier in Mexico met with local suppliers, creating an opportunity for a large number of new suppliers interested in working with the aerospace company. On the third day, Bombardier employees and suppliers volunteered as a group in a local community, Casa María Goretti (supported by Fundación La Merced), to demonstrate the company’s social responsibility commitment.

Bombardier in Mexico’s strategy also involves a comprehensive view of advanced manufacturing, including composites, electrical harnesses, aerostructures, sheet-metal machining, and more. The Querétaro facility is a center of excellence for large structural components and composite manufacturing, according to Bombardier in Mexico.

Announcing the Expansion, Anchoring Further Investment

Bombardier in Mexico recently reaffirmed its commitment to its aerospace-manufacturing site and supply chain ecosystem in Mexico with a new investment of US$18 million and the addition of 246 highly specialized jobs in Querétaro. Announced in the presence of the government of Querétaro, the latest investment is a continuation of the close collaboration between the company and state authorities.

Bombardier’s Vice President of Transformation, Tony Curry, met with Querétaro’s Governor Mauricio Kuri González and other senior officials to present the expansion of Bombardier in Mexico in the state as part of a global-scale strategy to strengthen the company’s footprint in Mexico. In his remarks, Tony Curry highlighted that the Bombardier site in Querétaro is the largest outside of Canada and also noted the collaboration between government, academia, and industry in Querétaro.

Bombardier in Mexico is, through this latest investment, making clear that it is doubling down on its high-tech, advanced aerospace manufacturing strategy — that is, building greater scale and supporting next-generation aircraft programs for global customers.

Regional Impact and Ecosystem Considerations

Bombardier in Mexico’s economic, educational, and social impact in Querétaro and the wider aerospace manufacturing ecosystem is significant. The company has provided thousands of jobs and created highly valued human capital in the aerospace sector for a region with aspirations to become a global aerospace hub, integrating advanced manufacturing skills into the local workforce. In parallel, the company’s local presence has encouraged the development of training, education, and R&D institutions, such as UNAQ or other training centers, which both support the industry and also are able to provide talent.

Bombardier in Mexico has not been limited to its industrial and education roles in the region. It has a long-standing history of involvement in social and environmental projects. For instance, Bombardier in Mexico’s original 15-year anniversary of its site in Querétaro celebrated a strategic alliance with Sierra Gorda World Biosphere Reserve and an employee-led community effort, Causa Querétaro.

In addition, it has benefited the wider aerospace cluster, as Bombardier in Mexico is building increasingly advanced capacity at its facility, which in turn has invited, encouraged, and supported domestic suppliers to scale up and specialize, producing a more sophisticated and resilient Mexican aerospace supply chain. Industry analysts suggest that the Querétaro aerospace cluster today is comparable in scale to some of the world’s most renowned hubs, such as Toulouse or Wichita.

Mexico’s Advantage: Why Bombardier in Mexico Settled in Querétaro

Bombardier in Mexico chose Querétaro for several reasons, among which are:

• Human capital and education. Querétaro’s skilled workforce and training/research institutions are specialized in aerospace manufacturing.
• Logistics advantages and proximity to Querétaro Intercontinental Airport (QRO), to name just two benefits.
• Industry-academia-government collaboration. State policies and academic institutions created with the aerospace ecosystem in mind were critical to the project.

Cost-competitiveness and proximity to market. Mexico offers manufacturing advantages in terms of costs and yet is well-positioned to serve key markets in North America. In addition, by locating there, Bombardier in Mexico could further embed into its global supply-chain strategy and benefit from near-shoring advantages.

Looking Forward: Aerospace Supply-Chain, Resilience, and Positioning

The aerospace industry is in a process of change: growing demand for business and regional jets, new aircraft programs, the ongoing effects of the pandemic, and a steep increase in digitalization and data-driven manufacturing in the aerospace sector. Bombardier in Mexico is an industrial hub that is well-positioned to participate in and support the resilience of the industry’s global supply chain. In doing so, by continuing to develop its capabilities, working with its suppliers, integrating into the Querétaro ecosystem, and investing in industrial resilience, Bombardier in Mexico is also helping to transform Mexico’s aerospace industry into a more globally competitive industrial cluster.

The company’s Supplier Symposium in October 2025, and its theme of “shared growth,” are evidence of this broader impact. Strengthening local capabilities and jointly working with both academia and the government are ways to create a virtuous circle in which business performance and community/ecosystem development are part of the same equation.

Conclusion

Bombardier in Mexico is an example of a global company with a long-term vision that has not only transformed an industrial cluster in Querétaro into a regional hub and strategic pillar in the aerospace value chain, but has created an ecosystem in which to thrive in the long term, for its employees, its suppliers, and the aerospace sector more generally. The recent investment of US$18 million and 246 new jobs at Bombardier in Mexico are evidence of a company that is not scaling down in the region, but one that is scaling up, continuing to build capacity and make Querétaro a center of excellence for aerospace manufacturing.

The Dominican Republic is seeking to shore up its self-promotion as a logistics hub in Latin America, using the strength of its links to the United States. More than US$5 billion in foreign investment is further transforming the Dominican economy from an international tourist destination to a production and distribution center in the region.

Turning from Sun & Beach to a Gateway

“The Dominican Republic is not sun and beach, it is much, much more than that,” said the Minister of Industry, Commerce and SMEs, Víctor (Ito) Bisonó, in an interview with Europa Press. The Caribbean nation, which has been “recalibrating” its international image in recent years, now aspires to be positioned as a logistics hub in Latin America, “as a gateway between the United States and Latin America,” a rebranding that puts it in competition with its neighbor, Panama, among others.

“In this case, the near-shoring (supply-chain relocation closer to final markets) gives us a huge advantage because the United States is seeking the recomposition of supply-chain logistics,” adds Bisonó. “The closest country with the greatest facilitation is the Dominican Republic, given the proximity, the country’s stability, a very skilled young labor force, and the capacity that we already have to produce important brands of medical equipment and electronics and export to the United States.”

In fact, the information shared by the minister and official sources consulted for this report echoes the characterization of the Dominican Republic as a rising manufacturing and distribution pole. Location, availability of infrastructure and free zones, and free trade agreements in hand, “we have all the cards on the table to be that logistics hub in Latin America,” Bisonó says.

The minister specifically points out as advantages of this repositioning the physical closeness to the US market (ports and airports) and by air (Dominican distance to Miami by sea is around 2 hours and by air is similar), the age of the labor force and its level of preparation, and the already known production capacity for certain high-value added categories destined for the US market. For its part, analysis provided by other industry actors indicates that over time the Dominican Republic has been able to consolidate a broad and complementary industrial ecosystem of advanced manufacturing. According to official sources, Dominican free zones host more than 850 companies, and over 60% of national exports are already channeled from free zones, with excellent logistics connectivity to external markets.

The island also has, they claim, advantages in the trade policy arena. The Dominican Republic is one of the very few countries where US tariffs on goods that meet certain eligibility criteria do not exceed 10 %, and in some cases could be lower. This policy framework, together with political, economic, and social stability, “more solid than the rest of the region,” forms part of the country’s differential for granting legal certainty to foreign investors. A more formal government position, supported by numerous analysts, is that the Dominican Republic is consolidating as a logistics hub in Latin America in a way that changes the narrative, from a purely tourist country to a modern country with an economy integrated into international value chains. Thus, for example, the director general of customs has qualified the logistics sector “as our new economic axis.”

Receiving US $ 5 Billion in Foreign Investment

The Dominican Republic receives about 30 % of the foreign investment going to Central America and the Caribbean, and as of this October, it expects to close this year with more than US $5 billion in investments.

Spanish companies in particular have made significant investments in recent years, across multiple sectors. The most active areas where Spanish capital is present include renewable energies and agro-industry, but also take advantage of the free zones. To this end, an official and business delegation participates in the week of “Dominican Week” in Spain (27-31 October), with the goal of deepening the relations of commercial and investment cooperation with Spanish firms, Spain being the country’s leading European partner. Commercial flows between Spain and the Dominican Republic already total nearly US $993.35 million, with rum, raw cocoa, and premium cigars being exported, and premium gasoline, glazed tiles, and frozen orange juice concentrate being imported, among other products.

Notable Spanish investments in the Dominican Republic include Acciona (airport construction, in Pedernales), Grupo Eulen (services), Ron Barceló (distilling), Mapfre (insurance), and Banco Sabadell (finance). Among Dominican entrepreneurs of Spanish origin, the presence of large platforms and hardware store chains, owned by second and third-generation Spanish-Dominicans, stands out.

Main Infrastructure Developments: Ports, Routes, and Free Zones

One of the flagship projects of these next months that will help cement this transformation is the new maritime route between the Dominican Republic and Puerto Rico. To cover the route, Baleària, an experienced player in ferry connections, has announced services. “In the Dominican Republic, everything is ready and permitted; what remains is the Puerto Rico side,” the minister indicated.

The logistics infrastructure in place or being put into place is not negligible. For example, the Multimodal Caucedo Port, currently managed by DP World, as well as the associated free-trade zones, can be considered an integrated maritime-industrial-logistics ecosystem. Port experts point out that goods shipped from Dominican ports to various US East Coast destinations arrive in just 3 to 4 days, much faster than those from Asia.

Likewise, the network of free zones is not anecdotal: as mentioned, more than 850 companies are installed in these more than 60% of total exports, many of them in electronics, medical devices, and manufacturing. Thus, from production to commercialization, the Dominican Republic is presenting itself as a logistics hub in Latin America capable of offering complete chains of manufacturing, warehousing, and distribution, and integration into US, Latin American, and Caribbean markets. This model makes it particularly attractive for businesses looking to nearshore or diversify away from longer and more vulnerable supply chains.

Outlook and Challenges

In short, by betting on the relocation of supply chains and nearshoring as a key pillar for its economic diversification, the Dominican Republic is not only betting on the momentum of a logistics brand that helps it break the image of being a one-trick economic pony focused on tourism, but it is in fact re-positioning itself as the leading logistics hub in Latin America for those firms that decide to relocate or diversify outside Asia.

The country’s geographical advantages, coupled with a diversified infrastructure with deep investment experience, a free trade agreement with the United States, and financial incentives to attract investment, among other ingredients, seem to be more than enough for the Dominican Republic to start to rebrand itself as a logistics hub in Latin America. This points to it not only being on the rise, but in fact setting out to change its economic identity.

However, both the government and industry sources interviewed for this report recognize that there is still work to do in order to gain positions in the center of the logistics chessboard in Latin America. Infrastructure, improvement of regulations, skills and training of the labor force, and investment in the digitalization of the supply chain are some of the areas of improvement mentioned in this regard.

Restrictions on industrialization and domestic sales prevent the region from realizing its full potential. Across Latin America, free zones have become powerful drivers of industrial, technological, and logistical development. In the Dominican Republic, they generate more than 200,000 direct jobs and lead the country’s exports. In Colombia, they account for 6.4% of total exports and 2.6% of GDP, in an ecosystem where 90% of the companies operating within them are micro, small, or medium-sized enterprises (MSMEs). Meanwhile, in Argentina, the La Plata Free Zone, one of the largest and most strategically located in the country, continues to hold tremendous potential that is only partially utilized. Its development could mirror the positive outcomes achieved by similar regimes across the region if its regulatory framework were modernized to enable broader productive activity.

Strategic Location and Untapped Capacity

Located in Ensenada and connected by major highways to Argentina’s principal industrial corridor, the La Plata Free Zone spans 70 hectares prepared for industrial and logistical operations. It features modern infrastructure, warehouses, security services, and direct access to Greater Buenos Aires. Yet despite this strategic foundation, its current legal framework—defined by Law 24.331—significantly limits its scope. Productive manufacturing inside the zone is not allowed; only storage, fractioning, assembly, and repackaging are permitted. Furthermore, production destined for the domestic market is prohibited, even if all applicable taxes are paid. This stands in sharp contrast to leading regional models, in which free zones operate as full-scale industrial, service, and technology hubs.

Lessons from the Dominican Republic

The Dominican Republic demonstrates how free zones can serve as strategic pillars of national development. The country hosts nearly 90 zones that collectively generate 200,000 direct and 600,000 indirect jobs, according to Deputy Minister Johannes Kelner. Since the 1990s, Law 8-90 has attracted foreign investment, fostered local innovation, and diversified the export base. Today, the Dominican Republic exports goods and services ranging from medical devices and tobacco to software and finance. Significantly, the benefits extend to small enterprises as well: numerous small tobacco firms have developed their own brands and now sell in markets across Europe and the United States. Additionally, the country is moving into emerging sectors such as semiconductors and advanced manufacturing, supported by a long-term strategy and workforce development.

The Colombian Model of Regulatory Stability

Colombia’s experience also underscores the importance of regulatory clarity in unlocking the potential of free zones. According to the national Free Zone Users Association, 90% of the businesses operating across Colombia’s 119 free zones are micro, small, or medium-sized enterprises. This concentration fosters dynamic business ecosystems with shared infrastructure and access to technology. In 2023, Colombian free zones exported USD 3.39 billion—equivalent to 6.4% of total national exports—and contributed 2.6% of GDP. The success of this model is rooted in a stable, investment-oriented legal framework, particularly Law 1004 of 2005, which has encouraged both foreign and domestic participation in productive ventures.

Argentina’s Limitations and the Need for Modernization

In contrast to these regional examples, Argentina maintains a more restrictive and fragmented approach. Free zones currently operating in La Plata, Córdoba, Mendoza, San Luis, Chubut, and Santa Cruz function primarily as logistics hubs rather than integrated industrial platforms. Within this context, the La Plata Free Zone remains strategically important due to its proximity to key ports, Buenos Aires, and major industrial districts. Its advantages position it as a natural platform for international trade, input storage, and export logistics, yet its productive contribution remains underdeveloped.

A Global Opportunity for Transformation

The global shift toward nearshoring—relocating supply chains closer to end markets—has created a historic opportunity for Latin America. Free zones are among the primary recipients of this investment trend due to their operational flexibility and competitive tax frameworks. With a modern regulatory framework enabling manufacturing, technological integration, and global service operations, the La Plata Free Zone could evolve into a regional industrial and logistical hub capable of attracting investment, boosting exports, and strengthening employment throughout Buenos Aires Province. International evidence shows that free zones are not merely mechanisms for trade—they are engines of productive transformation that enable export diversification, technological upgrading, knowledge transfer, and the creation of high-quality jobs.

Conclusion: Unlocking Value Through Reform

To achieve this potential, Argentina needs a modernized, globally competitive regulatory framework focused on value creation and industrial development. Free zones must transition from storage-oriented facilities into engines of growth and innovation. Only then can the La Plata Free Zone realize its role as a transformative driver of economic development and international integration, rather than a strategic asset constrained by outdated legislation.

At the Summit Invest Forum, leading economists, corporate executives, and business strategists gathered to debate the key challenges of business and investment in Bolivia. The high-level event brought together national and international participants to exchange ideas, identify obstacles to growth, and explore opportunities for innovation and competitiveness in the Bolivian market. One of the central moments of the forum was the presentation by economist Hugo Siles, who unveiled the much-anticipated Ranking of the 500 Largest Companies in Bolivia 2025. This comprehensive study evaluates the structure, contribution, and resilience of the country’s most significant business players in a challenging macroeconomic environment.

Held in the dynamic city of Santa Cruz de la Sierra, often considered Bolivia’s economic capital, Summit Invest Bolivia 2025 served as a platform for dialogue between the public and private sectors. The forum attracted analysts, investors, academics, and business leaders from across the country, who examined the current state of the Bolivian economy, the factors affecting its competitiveness, and the outlook for medium-term recovery.

Organized with the support of the National Chamber of Industries (CNI), Cainco, and Economy magazine as a strategic partner, the event emphasized collaboration and evidence-based discussion. The forum’s highlight was, without doubt, the presentation of the Ranking of the 500 Largest Companies in Bolivia 2025, prepared by renowned economist Hugo Siles Espada. In his remarks, Siles underlined the importance of maintaining a formal, organized, and transparent business sector amid the country’s current economic slowdown and declining levels of private and foreign investment. He argued that despite the constraints on liquidity, trade, and production, Bolivia’s formal companies have continued to demonstrate resilience and adaptability.

According to Siles, the ranking paints a nuanced picture of Bolivia’s economy. While many sectors are under stress, the core of the business community remains solid. The data revealed that the 500 largest companies collectively generate more than 80% of the formal GDP, employ approximately 350,000 people directly, and contribute about 60% of national tax revenues. These firms serve as the backbone of Bolivia’s formal economy, driving innovation, job creation, and sustainable growth even amid structural challenges.

However, Siles warned that Bolivia’s business ecosystem is under mounting pressure due to persistent foreign currency shortages, import restrictions, and rising costs for raw materials and logistics. The country’s dual currency market, where an official exchange rate coexists with a higher parallel rate, has complicated business operations, limiting access to dollars needed for imports and investment. “The lack of dollars and fuel affects all sectors across the board,” Siles said. “Nevertheless, formal enterprises have maintained stability in production and employment. This ranking shows that the private sector continues to be the true engine of the economy and a key driver of sustainable investment in Bolivia.”

Siles also pointed to broader macroeconomic vulnerabilities. If the current conditions persist, he warned, GDP growth could close the year below 1.5%, while the fiscal deficit remains at about 8% of GDP. International reserves continue to fall below US$3.5 billion. Such figures, he argued, are unsustainable in the long run. “These indicators call for a new economic and fiscal pact between the State and the private sector—a shared vision for a competitive and diversified Bolivia,” he emphasized.

Macroeconomic Discipline and Confidence

Former President of the Central Bank of Bolivia (BCB), Juan Antonio Morales, provided a sobering analysis of the country’s fiscal and monetary imbalances. Morales argued that Bolivia’s economic model, which has relied heavily on public spending and state intervention over the past two decades, is clearly exhausted. “The accumulated public deficit, hovering around Bs 30 billion annually, combined with growing current expenditure, is simply unsustainable without a major structural adjustment,” he warned.

Morales emphasized the need for a more transparent and realistic exchange rate policy to close the widening gap between the official and parallel exchange markets. “The market cannot function under constant uncertainty,” he said. “Predictability is essential if the productive sector is to plan effectively and investors are to regain confidence in investment in Bolivia.” He added that a credible monetary policy—backed by fiscal discipline and institutional independence—is crucial to restoring macroeconomic stability and encouraging capital inflows.

The former central banker also drew attention to the inflationary pressures that accumulated throughout 2024, when the inflation rate reached 9.97%. Combined with the loss of industrial competitiveness, these factors have severely affected Bolivia’s ability to attract foreign direct investment, which has fallen to below US$400 million per year, one of the lowest levels in Latin America. Morales noted that this figure stands in stark contrast to neighboring countries such as Chile, Colombia, and Peru, which each attract several billion dollars in foreign capital annually. The decline, he argued, underscores the urgent need for Bolivia to rebuild its reputation as a stable and attractive destination for investors.

Productivity and Innovation as the Way Forward

The forum also heard from Pablo Mendieta, Director of the Bolivian Center for Economic Studies (Cebec) at Cainco, who stressed that Bolivia is at a critical juncture. Mendieta called for a new development model anchored in productivity, innovation, and digital transformation. “Seventy percent of Bolivia’s workforce is in the informal sector,” he said. “A country cannot achieve sustained growth with such a large portion of its labor force operating outside the formal economy.”

Mendieta argued that Bolivia must double its private investment—currently about 9% of GDP—to sustain growth rates above 4% per year. “Competitiveness, innovation, and the attraction of investment in Bolivia are the keys to a new economic cycle,” he declared. “We must shift from a subsidy-driven model to one based on value creation, technological advancement, and industrial diversification.”

He also emphasized that Santa Cruz remains the heart of the country’s productive and entrepreneurial activity, contributing more than 30% of Bolivia’s GDP. The department’s agricultural, industrial, and service sectors continue to drive national growth. Yet, Mendieta warned that persistent logistical bottlenecks, infrastructure gaps, and regulatory bureaucracy limit Santa Cruz’s export potential and constrain private investment in Bolivia. He urged the government to adopt a comprehensive infrastructure modernization agenda—expanding roads, ports, and energy networks—to better connect Bolivia to regional and global markets.

Evolution of the Bolivian Economy

Financial analyst Luis Enrique Herrera provided a historical perspective on Bolivia’s economic evolution, tracing key reforms that shaped the country’s modern economy. He highlighted the Investment and Privatization Laws of 1992 and the Capitalization Law of 1994, both of which played a crucial role in revitalizing the economy during the 1990s. These reforms encouraged foreign participation, raised transparency standards, and boosted efficiency in strategic sectors such as telecommunications, hydrocarbons, and energy. As a result, foreign direct investment surged from virtually zero to around US$900 million annually by the end of the decade.

Herrera noted that the repatriation of capital between 1989 and 1991—supported by Central Bank incentives—stimulated growth, especially in Santa Cruz. This policy environment attracted multinational corporations that contributed to industrial diversification, technological transfer, and job creation. Companies like Cervecería Boliviana Nacional (CBN) became symbols of how a favorable business climate could attract global investors and promote sustainable investment in Bolivia.

He explained that during this period, public investment was strategically used to complement and enhance private investment, forming a model of balanced and diversified growth that delivered tangible benefits for nearly a decade. However, Herrera contrasted this with the subsequent two decades under the Movement Toward Socialism (MAS) governments, which, he argued, adopted a more state-centric and interventionist approach. According to him, widespread expropriations and policy uncertainty undermined investor confidence, leading to a sharp fall in foreign direct investment that never recovered to pre-2006 levels.

Despite these setbacks, Herrera suggested that Bolivia retains considerable untapped potential. The country’s natural resources, youthful population, and geographic position at the heart of South America could position it as a regional logistics and energy hub—if supported by sound governance and clear market rules. He concluded that restoring investor trust and promoting a consistent regulatory environment are essential to reinvigorate long-term investment in Bolivia.

Looking Ahead: A Call for Structural Reform

Throughout the Summit Invest Forum, participants emphasized that Bolivia stands at a crossroads. With economic growth slowing, fiscal pressures rising, and international reserves shrinking, the country must define a new development strategy that balances macroeconomic discipline with private-sector dynamism. All panelists agreed that deeper structural reforms—focusing on productivity, innovation, and competitiveness—are necessary to unlock the next wave of growth.

Above all, the discussions reaffirmed that sustained investment in Bolivia requires a stable and predictable business environment, one that fosters trust between the public and private sectors. By encouraging collaboration, reducing red tape, and modernizing infrastructure, Bolivia can strengthen its resilience and position itself once again as a magnet for both domestic and international investors.

At the Summit Invest in Bolivia Forum, leading economists, corporate executives, and business strategists gathered to debate the key challenges of business and investment in Bolivia. The high-level event brought together national and international participants to exchange ideas, identify obstacles to growth, and explore opportunities for innovation and competitiveness in the Bolivian market. One of the central moments of the forum was the presentation by economist Hugo Siles, who unveiled the much-anticipated Ranking of the 500 Largest Companies in Bolivia 2025. This comprehensive study evaluates the structure, contribution, and resilience of the country’s most significant business players in a challenging macroeconomic environment.

Held in the dynamic city of Santa Cruz de la Sierra, often considered the economic capital of Bolivia, Summit Invest Bolivia 2025 became a platform for dialogue between the public and private sectors. The forum attracted analysts, investors, academics, and business leaders from across the country, who examined the current state of the Bolivian economy, the factors affecting its competitiveness, and the outlook for medium-term recovery.

Organized with the support of the National Chamber of Industries (CNI), Cainco, and Economy Magazine as a strategic partner, the event emphasized collaboration and evidence-based discussion. The forum’s highlight was, without doubt, the presentation of the Ranking of the 500 Largest Companies in Bolivia 2025, prepared by renowned economist Hugo Siles Espada. In his remarks, Siles underlined the importance of maintaining a formal, organized, and transparent business sector amid the country’s current economic slowdown and declining levels of private and foreign investment. He argued that despite the constraints on liquidity, trade, and production, Bolivia’s formal companies have continued to demonstrate resilience and adaptability.

According to Siles, the ranking paints a nuanced picture of Bolivia’s economy. While many sectors are under stress, the core of the business community remains solid. The data revealed that the 500 largest companies collectively generate more than 80% of the formal GDP, employ approximately 350,000 people directly, and contribute about 60% of national tax revenues. These firms serve as the backbone of Bolivia’s formal economy, driving innovation, job creation, and sustainable growth even in the face of structural challenges.

However, Siles warned that Bolivia’s business ecosystem is under mounting pressure due to the persistent shortage of foreign currency, import restrictions, and rising costs of raw materials and logistics. The country’s dual currency market—where an official exchange rate coexists with a higher parallel rate—has complicated business operations, limiting access to dollars needed for imports and investment. “The lack of dollars and fuel affects all sectors across the board,” Siles said. “Nevertheless, formal enterprises have maintained stability in production and employment. This ranking shows that the private sector continues to be the true engine of the economy and a key driver of sustainable investment in Bolivia.”

Siles also pointed to broader macroeconomic vulnerabilities. If the current conditions persist, he warned, GDP growth could close the year below 1.5%, while the fiscal deficit remains at about 8% of GDP. International reserves continue to fall below US$3.5 billion. Such figures, he argued, are unsustainable in the long run. “These indicators call for a new economic and fiscal pact between the State and the private sector—a shared vision for a competitive and diversified Bolivia,” he emphasized

Chilean companies are reinforcing their commitment to Colombia following a business tour organized by the Santiago Chamber of Commerce. In an increasingly interconnected regional economic environment, trade relations between Chile and Colombia are consolidating as a strategic axis for business development and Latin American integration. In early October 2025, the Santiago Chamber of Commerce (CCS) led a business mission to Bogotá to strengthen ties, promote investment, and expand cooperation in technological innovation and sustainability.

The trip, which brought together representatives of major Chilean companies, government officials, and Colombian business leaders, marked a new milestone in bilateral relations. According to the CCS, the visit was “highly positive,” consolidating Chilean companies’ presence in Colombia while identifying new opportunities in infrastructure, energy, technology services, and retail.

High-Level Engagement to Boost Economic Integration

During the tour, the Chilean delegation met with Colombian officials, including President Gustavo Petro at the Casa de Nariño. This meeting signaled Colombia’s interest in promoting foreign investment, particularly from strategic regional partners such as Chile.

“The fact that President Petro received the Chilean companies’ delegation demonstrates the value Colombia places on bilateral investment and cooperation,” said Juan Francisco Velasco, Manager of Membership, Partners, and International Affairs at the CCS.

Velasco emphasized that the visit renewed trust between both countries and projected collaboration beyond trade. “The trip strengthened institutional and business ties and reaffirmed Chilean companies’ commitment to growth in the Colombian market, which remains a priority in their expansion plans,” he added.

Colombia: A Key Destination for Chilean Investment

Colombia has emerged as a top destination for Chilean companies’ investment in Latin America. According to the Central Bank of Chile, over 200 Chilean firms operate in Colombia, generating thousands of jobs and contributing to sectors such as retail, banking, energy, and services.

Velasco highlighted that this trend is expected to continue. “Chilean companies take a long-term view of Colombia. It is a market with institutional stability, sustained growth, and a business-friendly environment. Despite political changes, confidence in the country’s economic fundamentals remains strong,” he said.

Cencosud, one of the region’s largest retail companies, recently opened a new supermarket in Cali with an investment exceeding $5 million. This expansion reflects the confidence of Chilean companies in Colombia’s capacity to absorb new investments. Other sectors with high potential include renewable energy, mining, financial services, digital infrastructure, and e-commerce. Colombia has positioned itself as a regional hub for technological innovation, offering attractive opportunities for sustainable and digitally competitive business models.

Opportunities in Public and Urban Sectors

A highlight of the tour was the meeting with the Mayor of Bogotá, who presented investment projects in mobility, urban infrastructure, technology, and environmental sustainability.

Velasco noted that this generated strong interest among Chilean companies, opening doors to public tenders and public-private partnerships (PPPs) in the Colombian capital. “This is a key opportunity to promote Chilean investment in public sector projects, particularly in urban modernization initiatives that advance sustainable mobility and energy efficiency,” he said.

Bogotá, one of Latin America’s most dynamic cities, has implemented policies to attract foreign direct investment in green infrastructure, clean energy, and digital transformation—all areas where Chilean expertise and companies excel.

Stability, Trust, and Clear Business Rules

The CCS emphasized Colombian entrepreneurs’ positive perception of Chile as a commercial partner. “Chile is seen as reliable, stable, and governed by clear rules. This creates ideal conditions for deepening economic relations,” Velasco explained.

Colombian business leaders highlighted Chile’s governance model, focus on innovation, and sustainability, making it an ideal partner for technological exchange and joint projects. Chile contributes experience in management, services, and technology, while Colombia offers a growing market with a young and entrepreneurial population.

Political Context and Future Outlook

Despite upcoming presidential elections in Chile and Colombia, business confidence remains strong. Velasco stated, “Both countries’ economic fundamentals are solid. Colombia maintains macroeconomic stability, a robust financial system, and policies favorable to foreign investment. There is ample room to deepen trade and cooperation.”

The CCS projects growing Chilean investment in Colombia, particularly in digitalization, logistics, and clean energy projects. Simultaneously, Colombian companies are expected to increase investment in Chile, leveraging free trade agreements and regional synergies.

Technological Cooperation and Innovation

The mission also promoted cooperation in technological innovation. Both economies face digital transformation and automation challenges, making knowledge exchange essential.

The CCS highlighted collaboration opportunities in artificial intelligence, fintech, digital logistics, and the circular economy. Representatives from Chile’s startup ecosystem presented initiatives to Colombian accelerators and innovation entities.

“We aim to foster two-way knowledge exchange. Chilean companies have advanced technological solutions for business management, and Colombia’s entrepreneurial ecosystem complements this approach,” Velasco explained.

A Relationship with History and Vision

Trade relations between Chile and Colombia span decades, supported by free trade agreements and the Pacific Alliance with Mexico and Peru. This framework has reduced tariffs, harmonized standards, and promoted investment.

Colombia is the third-largest destination for Chilean investment in Latin America, with capital exceeding 10 billion dollars across productive and service sectors. Cultural affinity and a shared commitment to sustainable development make the bilateral relationship one of the most dynamic and balanced in the region.

CCS Vision: Integration with Purpose

At the conclusion of the tour, the CCS reaffirmed its commitment to promoting business integration between Chile and Colombia. Strengthening these ties not only drives economic benefits but also contributes to regional stability and sustained growth.

“Trade and investment are powerful tools for inclusive development. We aim to continue building bridges connecting companies, institutions, and people from both countries. Colombia is a strategic partner, and the CCS’s vision is to support Chilean companies in their expansion with responsibility and a long-term perspective,” Velasco concluded.

The business mission marked a decisive step in consolidating bilateral economic relations, strengthening Chilean companies’ presence, and demonstrating mutual interest in sustainable investment, technological cooperation, and joint development projects.

Chile and Colombia share a vision of progress based on stability, innovation, and inclusive growth. The CCS mission was not merely a commercial trip but a reminder that ties between the two nations are built on trust, collaboration, and a forward-looking perspective.