Mexican startups are attracting substantial angel investments, positioning themselves as key players in Latin America’s burgeoning entrepreneurial ecosystem. The startup scene in Mexico is experiencing a moment of intense excitement, attracting significant volumes of angel investment, driving the transformation of key economic sectors, and solidifying Mexico’s status as a robust and promising market for emerging companies across the region.

Sectors Drawing the Most Investor Attention

An in-depth analysis conducted by Dinero.mx reveals that the sectors garnering the most interest from angel investors in Mexico are fintech, e-commerce, and logistics, where innovation, technological disruption, and rapid growth potential are particularly evident. This momentum highlights not only the creativity of Mexican entrepreneurs but also the strategic vision of investors who recognize the country’s unique advantages in launching and scaling high-potential businesses.

Mexico’s Rise as a Startup Investment Hub

Mexico has strategically positioned itself as one of the primary hubs for early-stage venture capital in Latin America. The country has demonstrated a notable increase in the flow of angel investments directed toward high-potential startups. This uptick in investment reflects a broader trend: Mexico’s increasingly sophisticated market conditions, improving access to capital, and a growing network of experienced entrepreneurs and investors willing to bet on local innovation.

Success Stories Boost Investor Confidence

The technology and fintech sectors, in particular, continue to attract significant angel investments. Emerging companies like Kueski and Creditea have secured substantial funding rounds, fueling their expansion and allowing them to develop new products and reach broader audiences. These success stories have inspired other entrepreneurs and built investor confidence in the scalability and profitability of Mexican startups.

The Role of Angel Investment in Startup Development

While startups and Small and Medium-sized Enterprises (SMEs) have access to various financing avenues, angel investment represents a distinctive modality. An analysis by Dinero.mx, based on data provided by Angels Nest Latam, positions Mexico at the forefront in Latin America, with a network of approximately 800 active angel investors. This strong base of investors is critical to the country’s sustained startup growth, offering financial support, mentorship, industry connections, and strategic guidance vital to early-stage success.

Target Sectors for Angel Investment

This regional leadership underscores the maturity and dynamism of Mexico’s entrepreneurial ecosystem. Furthermore, the analysis identifies fintech, e-commerce, and logistics as the sectors with the most significant appeal for this type of investment. Mexican startups operating within these sectors are particularly well-positioned to leverage technological innovation to address substantial market gaps, enhancing efficiency, access, and convenience for businesses and consumers.

More than Capital: Strategic Support for Startups

Angel investment transcends mere capital injection; it reflects a profound conviction in the business model’s intrinsic potential and the entrepreneurial team. In Mexico, this combination of financial resources and strategic expertise provided by investors has been a decisive factor in the trajectory of numerous startups that have achieved multimillion-dollar valuations in a relatively brief period. For Mexican startups, the infusion of capital and expertise often acts as a catalyst, helping them navigate the early challenges of scaling operations, refining products, and expanding into new markets.

Top Mexican Startups Leading the Way

In this context, the financial information platform Dinero.mx has compiled a list of the 15 Mexican startups that have achieved million-dollar valuations and secured the most significant angel investments in recent years, based on data gathered by Startupeable:

• Kavak, founded by Carlos García Ottati, Roger Laughlin, and Loreanne García, revolutionized the used car buying and selling market through its e-commerce platform. By surpassing $2 billion in total investment, it became Mexico’s first unicorn, highlighting the explosive potential of well-executed e-commerce platforms in emerging markets.
• In the fintech sector, Konfío, led by David Arana and Francisco Padilla, has fully digitized the credit cycle for SMEs, positioning itself as one of the few Latin American fintech unicorns with over $500 million in cumulative investment.
• Stori, a fintech focused on financial inclusion for the unbanked and founded by Marlene Garayzar, the first Mexican woman to found a unicorn, has attracted $50 million in angel investment. This significant achievement underscores the untapped potential in Mexico’s financial services market.
• Clara, a corporate expense management and credit card platform founded by Diego Iván Garcia Escobedo and Gerry Giacoman Colyer, also surpassed the $50 million mark in angel investment, joining the select group of Mexico’s first unicorns.
• Clip, which facilitates digital payment adoption for small and medium-sized businesses thanks to the vision of Adolfo Babatz and Vilash Poovala, has attracted more than $25 million in angel investment—a figure similar to that achieved by Klar, the fintech founded by Stefan Möller to democratize financial services.
• Merama, founded by Sujay Tyle, Felipe Delgado, and Renato Andrade, drives the growth of e-commerce companies and has emerged as one of Mexico’s first unicorns, reaching $445 million in total investment.
• Valoreo, a company that acquires and develops e-commerce brands in Latin America and was founded by Martín and Stefan Florea, Alexander Gruell, Cedrik Hoffmann, and Miguel Oehlin, has obtained $50 million in angel investment.
• Nowports, a Monterrey-based startup focused on real-time cargo tracking and logistics, was founded by Alfonso de los Ríos and Maximiliano Casal. With nearly $25 million invested, it is nearing unicorn status.

E-commerce and Foodtech Startups on the Rise

In the e-commerce and foodtech sector:

• Jüsto, the online supermarket founded by Ricardo Weder, Ricardo Martínez, and Alejandro Sisniega, has raised between $10 million and $25 million in angel investment.
• Gaia Design, founded by Rafaello Starace and Hassan Yasine, is dedicated to designing and manufacturing accessible furniture. This segment is growing as Mexican consumers increasingly seek high-quality, affordable design options.

Finally:

• Kubo Financiero, the multi-product financial services platform founded by Vicente Fenoll, has also secured angel investments between $10 million and $25 million, reinforcing the appeal of fintech ventures to angel investors in Mexico.

The agility demonstrated by these startups in identifying market inefficiencies and proposing disruptive solutions has served as a powerful magnet for angel investors. Drawn by the potential for substantial returns in high-growth markets, these investors actively seek promising projects and companies to propel them toward new stages of development within Mexico’s dynamic entrepreneurial ecosystem.

Mexican startups have earned a reputation for resilience, adaptability, and innovation, which makes them attractive to local investors and international venture capitalists seeking new opportunities in emerging markets. The increasing sophistication of the startup ecosystem and the continued expansion of support networks for entrepreneurs suggest that Mexico’s momentum in this space is far from reaching its peak.

Conclusion

The future looks bright for Mexican startups as they continue to drive economic transformation, attract significant investments, and expand their local and international footprint. With a robust angel investor network, a fertile environment for innovation, and an entrepreneurial spirit that thrives on overcoming challenges, Mexico is poised to remain a leading force in the Latin American startup scene for years to come. As more success stories emerge and investment opportunities grow, Mexican startups will continue to shape the future of technology, finance, logistics, and beyond across the region.

Costa Rica’s Foreign Affairs and Trade Ministers, Arnoldo André Tinoco and Manuel Tovar, recently underscored their ambitions to deepen exchanges with Japan and attract new investments in the semiconductor sector during a key diplomatic mission to Tokyo. The visit forms part of a broader Asian tour that will also take Minister André to South Korea, signaling a clear strategic focus on strengthening Costa Rica’s ties with the Asia-Pacific region.

Accompanying André is Minister of Foreign Trade Manuel Tovar. Notably, this marks the third time the ministers have traveled together to Japan since President Rodrigo Chaves took office in 2016. These nearly annual trips highlight Costa Rica’s consistent efforts to expand its visibility and influence in Japan and Asia. “Costa Rica’s efforts to foster and increase its presence in Japan and Asia overall, particularly in the political and investment fields, are more important now than ever,” emphasized Minister André during the visit.

As part of this deepening bilateral relationship, an agreement is expected to be signed to establish a framework for regular political consultations, coinciding with the 90th anniversary of diplomatic relations between Costa Rica and Japan. This initiative will serve as a foundation for even more structured and sustained engagement between the two countries in the years ahead.

The CPTPP as a Path for Trade Diversification

Another significant topic on the agenda during this mission is Costa Rica’s ongoing process to join the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), an extensive trade agreement of which Japan is a leading member. For Costa Rica, joining this economic bloc represents a significant milestone in its efforts to diversify its trade relationships and enhance global competitiveness.

Minister Tovar stressed that joining the CPTPP “represents the main trade policy” of the Chaves administration. He pointed out that the CPTPP currently accounts for 15% of global GDP and 20% of foreign direct investment, highlighting the immense opportunities that membership would bring. According to Tovar, negotiations with the CPTPP member countries are progressing “decisively,” driven by a “shared will on both sides to move forward as quickly as possible.”

The goal is to finalize negotiations by the end of the year, after which the accession treaty will be submitted for parliamentary ratification, a critical step to bring it into formal force. By joining the CPTPP, Costa Rica aims to expand its access to new markets and increase its appeal as a prime destination for industries such as high-tech manufacturing, which will further boost Costa Rica’s semiconductor investment opportunities.

In explaining the strategic rationale behind the push for diversification, Tovar noted that Costa Rica seeks to “inoculate itself against any risk,” particularly risks associated with overdependence on its leading trading partner, the United States. Despite Washington’s imposition of ‘reciprocal’ tariffs, Tovar dismissed suggestions that these tariffs drove Costa Rica’s pivot toward Asia and beyond.

“We began our diversification process long before the implementation of tariffs by the Donald Trump administration,” he affirmed. Tovar emphasized that the decision to seek expanded global markets through efforts such as CPTPP accession and stronger ties with South Korea, Singapore, China, Europe, and South America predated these external pressures.

“What we want is to continue expanding globally and continue inoculating ourselves against any risk, whether it be tariffs, a pandemic, or an economic recession,” he said. In this sense, Costa Rican semiconductor investment fits squarely within the country’s broader strategy of reducing vulnerabilities and strengthening economic resilience through innovation and global integration.

Seeking Asian Partners in Semiconductors

Strengthening trade and political ties with Japan and other Asian nations is particularly significant for Costa Rica’s burgeoning semiconductor industry. As Tovar explained, accession to the CPTPP will enable Costa Rica to tap into “synergies” with Asian countries like Vietnam and Malaysia, further integrating itself into global technology supply chains.

Costa Rica already boasts considerable experience in the semiconductor sector, with major international players such as Intel (NASDAQ: INTC) and Applied Materials (NASDAQ: AMAT) maintaining critical operations there. Building on this strong foundation, the government is actively working to position the country as an increasingly attractive hub for semiconductor investment in Costa Rica.

Minister Tovar highlighted several of the country’s competitive advantages, including decades of experience in the sector, a highly attractive system of fiscal incentives, an energy matrix that is almost entirely based on renewable sources, a skilled workforce, and exceptional political stability.

These strengths are expected to be key selling points during meetings with Japanese semiconductor companies, which are part of the Tokyo leg of the visit. An investment seminar was held at the Tokyo headquarters of the Inter-American Development Bank to showcase Costa Rica’s potential. One-on-one meetings with corporate leaders are also scheduled to promote Costa Rican semiconductor investment further.

Beyond Japan, Costa Rica’s leadership sees broader opportunities across the region. Japan is seen as a crucial entry point to the broader Asian market. Foreign Minister André stressed that, unlike other countries in Central and South America, Costa Rica has maintained a relatively low profile regarding Chinese investment and business presence. This makes it a particularly attractive partner for Japan, which is eager to bolster ties with like-minded nations that share free-market values and political stability.

“For Costa Rica, Japan is the gateway to Asia,” said André, who also mentioned Costa Rica’s strong relationships with Singapore and South Korea. After concluding the Tokyo visit, André will travel to South Korea from April 28 to 30, 2025, to participate in the “Our Ocean” Conference — a major event focused on promoting sustainable marine economies and protecting ocean ecosystems.

Costa Rica’s decision to emphasize semiconductor investment during this tour recognizes global technological trends and the need for smaller economies to carve out strategic niches within global supply chains. With semiconductors forming the backbone of industries ranging from consumer electronics to electric vehicles and defense technologies, Costa Rica is well-positioned to attract a new wave of investment, driving further economic growth and resilience.

Semiconductors are a part of Costa Rica’s economic development strategy

Efforts to encourage Costa Rican semiconductor investment are not isolated but are integrated into the government’s broader economic development strategy, which includes investments in education, infrastructure, and clean energy. By continuing to capitalize on its strengths and forging new partnerships, Costa Rica aims to build a future-ready economy that can withstand global uncertainties while creating high-quality jobs for its people.

The recent diplomatic mission to Japan highlights a proactive and forward-looking approach to economic diversification. With Costa Rican semiconductor investment at the forefront of its strategy, the country is setting the stage for long-term prosperity, innovation, and global competitiveness.

Despite international economic uncertainty, particularly influenced by the so-called “Trump phenomenon,” Mexico’s aerospace sector is poised for remarkable growth over the next five years. Industry leaders and analysts agree that the outlook remains highly favorable, driven by strategic advantages in manufacturing, engineering talent, and geographic proximity to the United States. According to sector projections, aerospace investment in Mexico is expected to double within three to five years, reinforcing the country’s position as a global hub for advanced manufacturing.

A Strong Aerospace Boom

The optimistic forecast was prominently highlighted during the 2025 Mexico Aerospace Fair (FAMEX), where Óscar Mora Velázquez, director of the information technology company EN-TI, shared his insights with industry participants. Mora projected that the aerospace sector would grow by an impressive 15% annually, reaching export levels of $22.7 billion.

“Mexico has a great opportunity to establish itself as one of the most dynamic manufacturing sectors globally,” Mora emphasized. This opportunity is fueled by Mexico’s strategic location and robust manufacturing ecosystem, which continues attracting domestic and foreign investors seeking to tap into the global aerospace supply chain.

The forecasted boom is a testament to the resilience of aerospace investment in Mexico, which has continued to gain momentum despite broader global trade tensions and political shifts.

Aerospace Nearshoring: A Strategic Opportunity

In his presentation, titled Aerospace Nearshoring: Mexico’s Opportunity in the New Industrial Geopolitics, Mora stressed that Mexico already possesses the specialized infrastructure needed to support large-scale aerospace operations. As of 2024, the country had accumulated total investments of approximately $11.4 billion in the aerospace sector.

These investments are concentrated in key strategic zones, including Querétaro, Nuevo León, Chihuahua, Sonora, and Baja California. These regions have evolved into dynamic clusters that offer world-class facilities, highly trained workforces, and well-developed supply chains, all of which are essential ingredients for sustainable growth in aerospace manufacturing.

Mora explained that nearshoring trends, accelerated by the global realignment of supply chains, provide Mexico with a historic opportunity to cement its role as a vital player in aerospace production. With companies seeking to reduce dependency on distant manufacturing bases, aerospace investment in Mexico has become an increasingly attractive option for multinational corporations.

Strengthening Local Capabilities

While celebrating the achievements so far, Mora also cautioned that Mexico must move beyond simply offering low-cost manufacturing solutions. He stressed the need for Mexican companies to play a more active role in developing and producing high-value aerospace products, rather than focusing only on parts like brake discs or basic software systems.

“Promoting the local development of high-value products is essential,” Mora said, underlining the importance of fostering innovation and advancing technological capabilities within Mexico’s aerospace industry. The goal is not merely to serve as an assembly base but to evolve into a source of innovation, design, and sophisticated engineering solutions.

Encouraging domestic companies to move up the value chain will make aerospace investment in Mexico even more attractive to global investors and ensure the country’s long-term competitiveness.

Specialized Human Capital: The Cornerstone of Growth

Another key component of Mexico’s aerospace growth strategy is cultivating specialized human capital. Mora highlighted that six out of every ten jobs in the aerospace sector require high technical specialization, a figure that underscores the industry’s demand for a highly skilled workforce.

“More engineers will be needed as we move forward,” he stressed, noting that the United States-Mexico-Canada Agreement (USMCA) and shifts in global supply chains present significant opportunities to expand Mexico’s market share. Aerospace investment in Mexico will inevitably lead to a greater demand for specialized training programs, partnerships with universities, and technical education initiatives to supply the necessary talent.

Several Mexican states have already begun investing in aerospace education, establishing partnerships between educational institutions and private companies. These initiatives aim to ensure a steady pipeline of engineers, technicians, and specialists who can meet the increasingly complex demands of aerospace production and innovation.

EN-TI’s Role in Technological Advancement

EN-TI, the company led by Mora, plays a crucial role in supporting the aerospace industry’s growth by offering information technology solutions tailored to the sector’s needs. By helping companies modernize their technological infrastructure, EN-TI enables aerospace manufacturers to enhance competitiveness, improve efficiency, and meet the rigorous standards required by global aerospace customers.

Technological advancement will be essential to sustaining and accelerating aerospace investment in Mexico. From digital twins and simulation technologies to cybersecurity and advanced analytics, IT solutions are becoming indispensable tools for aerospace firms looking to innovate and remain at the cutting edge.

The Road Ahead

Industry experts agree that Mexico is well-positioned to become a global leader in aerospace manufacturing. However, to fully capitalize on the surge in aerospace investment in Mexico, stakeholders must continue to address key challenges, including strengthening local supply chains, fostering innovation, improving workforce development, and ensuring that regulatory frameworks remain favorable to business growth.

The country’s proximity to major aerospace markets, strategic infrastructure, and human capital investment gives it a competitive edge. Moreover, the push toward nearshoring creates a unique moment in history for Mexico to significantly increase its influence in the aerospace sector.

In conclusion, aerospace investment in Mexico is not merely a short-term trend but a long-term strategic shift that promises to redefine the country’s role in global manufacturing. With proactive policy measures, continued private sector investment, and a relentless focus on innovation and talent development, Mexico could soon find itself among the world’s top aerospace powerhouses.

The Country Strengthens Its Role in the Region’s Digital Transformation

Panama is steadily consolidating its position as a major player in the Latin American technology scene. Thanks to its strategic location, modern infrastructure, and business-friendly environment, the country is rapidly becoming a Panama technology hub for innovation and digital development.

This week, the Panamanian company Coderland announced a strategic alliance with the international firm Izertis, further solidifying Panama’s standing as an emerging technology hub. As part of this agreement, Izertis has acquired a 50% equity stake in Coderland, opening a new chapter of growth for both companies and Panama’s digital ecosystem.

A Strategic Alliance with Regional Impact

Coderland, a company specializing in software development, is headquartered at the renowned City of Knowledge, an innovation campus that hosts businesses, universities, and research centers. It also operates work centers in Guatemala and El Salvador, positioning itself as a key regional player.

Coderland can expand its operations, open new production centers across Central America, and attract more tech talent through the new alliance. This will enhance its ability to provide higher-quality services to clients across Latin America, where demand for digital solutions continues to grow.

“This alliance allows us to grow, improve our services, and attract the best professionals in the region,” said Jorge Rubia Antúnez, Coderland’s representative. Through this strategy, the company aims to increase its workforce and enhance its portfolio of digital solutions for sectors such as banking, telecommunications, retail, and public services.

Who is Izertis?

Izertis is a Spanish technology consulting firm that offers services in digital transformation, artificial intelligence, blockchain, cybersecurity, and software development. With a presence in the United States, Mexico, Colombia, and several European countries, Izertis has experienced rapid growth in recent years and is now making a strong push into Latin America as part of its international expansion strategy.

The integration with Coderland will allow Izertis to broaden its operational base and tap into Panama’s local talent pool to develop new projects. According to Pablo Martín, CEO of Izertis, “This alliance gives us flexibility and access to highly skilled professionals. Moreover, Panama is a strategic point for our expansion.”

The Spanish company sees Panama as an ideal location to centralize operations that can support clients across Latin America and other emerging markets, thanks to its connectivity, economic stability, and commitment to digital transformation. It also recognizes the enormous potential of the Panama technology hub to fuel innovation and deliver cutting-edge solutions throughout the region.

Benefits for Panama: More Jobs, More Investment, More Opportunities

The alliance between Coderland and Izertis will benefit the companies involved and boost Panama’s tech ecosystem overall. The collaboration is expected to create more high-quality jobs, new opportunities for local software developers, and an increase in foreign direct investment in the country.

For young Panamanians seeking a career in technology, alliances like this represent an opportunity to receive training, gain international experience, and work on high-impact projects without leaving the country. Additionally, the arrival of new investments may stimulate the creation of startups, foster technological entrepreneurship, and further energize the national economy.

This alliance will also strengthen the City of Knowledge, where Coderland is based. The scientific and business campus continues to attract tech companies seeking a collaborative environment and a vibrant ecosystem of innovation, research, and development, further enhancing the reputation of the Panama technology hub. 

Coderland: A Panamanian Success Story

Coderland has positioned itself as one of the most important technology companies in the region. Last year, it reported revenues exceeding €9 million, reflecting its constant growth and ability to adapt to a rapidly evolving market.

Its business model, based on distributed talent, tailor-made projects, and high-quality service, has been key to its success. Thanks to its regional approach, it has built multicultural work teams and offered solutions tailored to the realities of different markets.

Through its alliance with Izertis, Coderland will gain access to more financial, technological, and commercial resources, which will accelerate its growth and strengthen its presence across Latin America. Furthermore, it can integrate global best practices in project management, process innovation, and developing new digital products.

Panama: A Growing Technology Hub

The growth of Coderland and its new strategic alliance reflects Panama’s momentum as a technology hub. Increasingly, international companies are choosing to establish operational centers, innovation labs, and digital services hubs in the country.

The Panamanian government has also promoted initiatives to foster economic digitalization, improve connectivity, and attract investment in high-tech sectors. Training programs in programming, artificial intelligence, and cybersecurity aim to prepare the workforce for the demands of the digital economy.

Moreover, Panama’s geographic location, macroeconomic stability, and world-class logistics infrastructure—including the Panama Canal, ports, and Tocumen International Airport—make it an ideal destination for tech companies looking to access Latin American and global markets.

A Promising Future

The alliance between Coderland and Izertis marks an essential milestone for Panama’s technology ecosystem. It strengthens a local company and signals that the country is ready to lead in Latin America’s digital transformation.

With more talent, investment, and innovation, Panama is cementing its position as a strategic destination for technological development. All signs suggest that this is only the beginning of a success story that promises to continue growing in the years to come.

Colombia has emerged as a strategic destination for industrial development, with its network of modern industrial parks playing a central role in attracting manufacturing, logistics, and service companies. These parks are located in key cities such as Bogotá, Medellín, Barranquilla, Cali, and Cartagena, offering global investors access to domestic and regional markets through robust transportation infrastructure, favorable tax policies, and an increasingly skilled labor force. This overview examines Colombia’s most prominent industrial parks, focusing on critical operational factors such as infrastructure quality, labor dynamics, regulatory environment, costs, and business clusters.

Strategic Location and Access to Markets

Colombia’s location on the northern tip of South America bridges North and South American markets, with access to the Pacific and Atlantic Oceans. The most active industrial parks in Colombia are located near major cities and seaports:

• Zona Franca Bogotá: Located near El Dorado International Airport, this park provides direct access to air freight and the Bogotá consumer market. It’s ideal for companies with high-value exports.
• Zona Franca del Pacífico (near Cali): It is near the Port of Buenaventura and has road networks connecting southwestern Colombia and Ecuador.
• Zona Franca de Barranquilla: Strategically positioned on the Caribbean coast, it benefits from access to U.S. and Central American markets through maritime routes.
• Zona Franca La Candelaria (Cartagena): It is near Colombia’s central petrochemical hub and port infrastructure, making it particularly suitable for the energy and chemical industries.

Each park is near major labor pools and suppliers, reinforcing Colombia’s regional integration and supply chain resilience.

Transportation, Utilities, and Connectivity

Colombia has invested significantly in road networks (e.g., the 4G highway program), intermodal terminals, and airport infrastructure. Key industrial parks benefit from:

• Paved highway access to ports and major cities.
• Colombia has fiber optic internet and mobile coverage, and is ranked as one of Latin America’s most digitally connected countries.
• Reliable energy and water services, with parks like Zona Franca del Pacífico boasting uninterrupted power backed by local hydropower sources.
• Telecommunications infrastructure, including 4G and expanding 5G networks in urban-industrial areas.

These infrastructure upgrades support industrial activities, particularly high-tech manufacturing, logistics, and service-based operations.

Labor Availability, Cost, and Training

Colombia has a relatively young and urbanized workforce, with over 70% of the population living in cities. Labor availability is strongest in metropolitan areas, such as Bogotá (population approximately 8 million), Medellín (approximately 2.5 million), and Cali (approximately 2.3 million). Industrial parks tap into these urban labor pools and attract workers from surrounding regions.

Average monthly wages for manufacturing workers range from US $300 to US $500, depending on their skill level and region.

Labor law requires a 48-hour workweek, mandatory social security contributions, and severance pay. Overtime, night work, and holiday shifts incur additional premiums.

Union activity exists, but it is generally more concentrated in the public sector. In manufacturing, collective bargaining is present but does not dominate employer-employee relations.

Access to technical training is robust. SENA (Servicio Nacional de Aprendizaje) offers free vocational training tailored to employer needs, which is present in most industrial regions.

Colombia’s labor structure enables firms to access low— to mid-cost labor and opportunities for skills upgrading through government-backed programs.

Tax Incentives and Regulatory Environment

Industrial parks in Colombia, particularly those with free trade zone (zona franca) status, offer significant regulatory and fiscal benefits:

• Income tax reduction from 35% to 20% for companies located in free trade zones.
• No VAT or customs duties on imported raw materials, capital goods, or intermediate goods used for export.
• VAT exemptions for software and IT services produced within these zones.
• Simplified import/export procedures and customs inspections within park boundaries.

Colombia has steadily improved its Ease of Doing Business score regarding business regulation thanks to streamlined company registration, improved access to credit, and investment protection mechanisms. Foreign companies may repatriate profits freely and are allowed 100% ownership in most sectors.

However, environmental regulations—such as licensing for emissions, water usage, and solid waste—are strictly enforced, especially for manufacturing sectors with high environmental impact. Parks typically support tenants with compliance through in-house environmental departments or external consultants.

Lease Costs, Operating Expenses, and Utilities

Industrial parks in Colombia typically offer Class A and B industrial facilities, including warehouses, build-to-suit plants, and logistics platforms. Average monthly lease costs vary by location and property type:

• Bogotá and Medellín: USD 4–6/m²
• Cali and Barranquilla: USD 3–4.50/m²
• Cartagena (premium port zone): USD 4.50–6/m²

Construction costs for new industrial buildings average USD 500–700/m², with higher-end facilities reaching USD 900/m² for custom build-outs.

Operating expenses include:

• Waste management: USD 0.20–0.50/m²/month
• Facility management: USD 0.40–0.80/m²/month
• Security services: Typically included, but may add USD 0.30–0.70/m²/month depending on surveillance level
• Utilities such as electricity and water are billed at competitive regional rates, with average industrial electricity prices ranging from USD 0.12 to 0.15/kWh.

Logistics and Freight Costs

Colombia’s logistics performance is improving, particularly with the expansion of its intermodal and port infrastructure. Average freight costs for domestic road transport range from USD 0.08 to $ 0.12 per ton/km, depending on the route and carrier.

• From Bogotá to Port of Buenaventura (via Cali): Approx. USD 1,000–1,200 per 20-ton truck.
• From Medellín to Cartagena: Approx. USD 900–1,100 per full truckload.
• Export container rates from Cartagena to Miami: ~USD 2,000–2,400 per 40-foot container (as of early 2025, varies by contract and volume).

Companies in industrial parks near seaports, such as Cartagena, Barranquilla, and Buenaventura, benefit from lower last-mile delivery costs to export terminals. They can leverage Colombia’s free trade agreements (FTAs) with the U.S., the EU, and the Pacific Alliance.

Tenant Mix, Cluster Benefits, and Global Track Record

Each of the leading industrial parks in Colombia features a diverse tenant base and offers cluster advantages:

• Zona Franca Bogotá houses over 400 companies, including international firms in electronics, pharma, and logistics. It’s part of a broader innovation ecosystem in the Bogotá-Sabana corridor.
• Zona Franca del Pacífico supports agro-industrial and light manufacturing firms and is part of the Valle del Cauca cluster, with synergies in food processing and packaging.
• Zona Franca La Candelaria in Cartagena focuses heavily on chemicals and petrochemicals, with key anchors including Ecopetrol and Reficar.
• Ruta N in Medellín and the adjacent industrial districts form a tech and manufacturing cluster that has attracted companies like Hewlett-Packard and Rockwell Automation.

Colombia’s industrial parks have supported expanding companies such as Johnson & Johnson, Bayer, Nestlé, and Unilever. Their presence helps develop value chains, improve supplier quality, and create employment clusters, particularly in the life sciences, electronics, and processed food industries.

Environmental Considerations

While Colombia supports industrial development, it upholds a strict environmental code. Parks must comply with:

• Environmental impact assessments (EIA) before new construction
• Wastewater discharge standards and emission controls
• Reforestation or environmental offsets in some regions

Many parks offer ISO 14001-certified infrastructure and waste treatment facilities, reducing tenant compliance costs and timelines.

Conclusion

Industrial parks in Colombia are key platforms for foreign and domestic manufacturers looking to expand within Latin America. They combine geographic advantages, strong infrastructure, skilled labor, and compelling fiscal incentives. Whether located inland near major cities or in port cities with international shipping access, these parks offer scalability, cost-efficiency, and logistical connectivity. With growing cluster ecosystems and government support for export-driven industries, industrial parks in Colombia are increasingly attractive to global firms seeking stable, competitive, and well-serviced production bases.

As Colombia continues to enhance its investment climate and infrastructure, industrial parks will play an even greater role in its industrial and economic future.

A Dimmer Outlook for Uruguay’s Economic Expansion

The World Bank has revised its economic forecast for Uruguay, projecting a more subdued trajectory over the next two years. In line with recent updates from the International Monetary Fund (IMF), the World Bank’s latest economic outlook highlights growing concern over the Uruguayan growth rate due to external and domestic challenges.

In its most recent update to the Global Economic Prospects report, released Tuesday, the World Bank adjusted Uruguay’s expected gross domestic product (GDP) growth downward for 2025 and 2026. The new forecasts suggest that the country will grow by 2.3% in 2025 and then slow to 2.2% in 2026. These numbers represent a drop from the previously projected rate of 2.6% for both years, which was issued earlier in the year.

This downgrade aligns closely with the IMF’s latest assessment. As of April 23, 2025, the IMF reduced Uruguay’s 2025 growth projection from 3% to 2.8%. While slightly more optimistic than the World Bank’s forecast, the IMF’s move underscores the mounting headwinds facing the small but economically stable South American nation.

Regional Trends and Comparative Growth

The revision of the Uruguayan growth rate comes amid a wider reassessment of growth prospects across Latin America and the Caribbean. While Uruguay has long been viewed as one of the region’s most stable economies, it is not immune to the broader dynamics shaping global trade, consumption, and investment trends.

According to the World Bank, regional growth in Latin America is expected to reach just 2.1% in 2025. This figure, although modest, is buoyed by expectations of a strong rebound in Argentina, which is forecasted to grow by an impressive 5.5% in 2025 and 4.5% in 2026. This Argentine resurgence is primarily attributed to aggressive economic restructuring policies and stabilization measures undertaken in recent years.

In contrast, other large regional economies, including Brazil, Mexico, and Colombia, are expected to experience more tepid growth. Structural bottlenecks, high inflation, and fiscal pressures remain significant obstacles to sustained growth.

Domestic Sentiment and Analyst Reactions

The World Bank’s lower growth projections for Uruguay have fallen short of expectations held by domestic analysts. According to the most recent survey by the Central Bank of Uruguay (BCU), the average growth forecast for 2025 stood at 2.5%. This is higher than the World Bank’s 2.3% projection, indicating that local economists may have a more favorable view of the country’s internal fundamentals.

Nonetheless, some analysts have acknowledged that mounting external pressures—from global monetary tightening to trade volatility—may begin to weigh more heavily on Uruguay’s growth rate in the coming quarters.

An Uncertain Global and Regional Environment

The outlook for Uruguay, and indeed much of Latin America, is being shaped by a confluence of external uncertainties. The uneven global recovery from the COVID-19 pandemic and subsequent geopolitical disruptions are chief among these. While consumption drove growth across much of the region in 2024, countries like Argentina and Chile saw their economic performance hinge more heavily on external trade.

At the same time, output growth among Uruguay’s primary trading partners remained lackluster. The G7 economies, for instance, are projected to grow by only 1.2% in 2025, reflecting economic deceleration in the United States and continued stagnation in parts of Europe. Meanwhile, economic growth in China—a major importer of Latin American commodities—is expected to remain subdued, adding another layer of complexity for countries dependent on export-driven revenue.

These global factors are critical to understanding the recalibrated Uruguayan growth rate, as Uruguay’s economy is closely integrated with international markets through agriculture, energy exports, and financial services.

Trade Policy and Nearshoring Shifts

The World Bank’s report further emphasized that rising global trade policy uncertainty significantly shapes the economic prospects for Uruguay and its neighbors. The report notes that the trade policy uncertainty index has increased and remains persistently above pre-2015 levels.

Much of this uncertainty stems from protectionist policies and the evolution of global supply chains. Major economies such as the United States, the European Union, and China have either implemented or are considering new tariffs and non-tariff barriers, which could impact Uruguay’s export competitiveness.

Additionally, the nearshoring trend—where companies relocate their supply chains closer to their home markets—could realign trade and investment flows across the Western Hemisphere. While this could create new opportunities for countries like Mexico and Costa Rica, Uruguay might face challenges if multinational firms shift attention away from South America’s Southern Cone.

Weather, Infrastructure, and Other Risks

Beyond international concerns, Uruguay also faces domestic risks that could affect the Uruguayan growth rate. Agriculture remains a vital component of the nation’s economy, and adverse weather patterns, including prolonged droughts or floods, can disrupt production and exports.

Infrastructure limitations, particularly transport and logistics, could hinder growth if not addressed through targeted investment. Additionally, while Uruguay has a reputation for political stability and institutional strength, it must continue to modernize its regulatory framework and attract foreign direct investment (FDI) to maintain its competitiveness.

Policy Responses and Future Prospects

In response to these evolving challenges, Uruguayan policymakers will likely consider a range of measures to stimulate economic activity. These include reforms to improve labor market flexibility, public-private partnerships for infrastructure, and enhanced incentives for technology and innovation sectors.

The country’s renewable energy sector, one of the most advanced in Latin America, also presents an opportunity for sustainable long-term growth. By leveraging green energy assets and expanding digital services, Uruguay could strengthen its resilience against external shocks and secure a more favorable Uruguayan growth rate over the next decade.

Conclusion

Although Uruguay continues to enjoy relative economic and political stability, the revised forecasts from the World Bank and the IMF underscore a period of caution and recalibration. The downward revision of the Uruguayan growth rate for 2025 and 2026 reflects broader uncertainties in global markets, trade policy, and regional vulnerabilities.

Uruguay must adapt to a rapidly changing international landscape while reinforcing its domestic strengths. How well it navigates this transitional period will determine whether it can regain momentum and achieve higher, more inclusive growth in the years ahead.