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Colombia Investment Summit 2023: Showcasing the Country’s Regions as Foreign Direct Investment Destinations

by | Oct 5, 2023

In its eighth edition, the Colombia Investment Summit 2023 will highlight the potential of various regions in the country as destinations for foreign investment.

The annual event that will take place from November 20 to November 28, 2023, is being organized by the Ministry of Commerce, Industry, and Tourism through ProColombia. ProColombia is the country’s national agency that promotes exports and foreign direct investment in the country.

Germán Umaña Mendoza, Minister of Commerce, Industry, and Tourism, emphasized, “In President Gustavo Petro’s government, we aim to attract and materialize productive and sustainable investment projects that reach all our regions and foster development. For this four-year term, we have set an ambitious goal of attracting non-mining foreign direct investment exceeding $13 billion, enabling us to create jobs and prosperity across the country.”

Informational Programs are Planned

The Summit includes an academic agenda and comprehensive information on regional and sectoral offerings for entrepreneurs from around the world who will be in attendance.

The priority sectors for attracting foreign direct investment to Colombia align with the National Government’s strategy, which seeks to promote sustainable investment and contribute to a just energy transition, competitiveness, and integrated territorial development. These sectors include technology-based services, agribusiness, auto parts, infrastructure, shipbuilding, tourism, renewable energy, hydrogen, and light manufacturing.

“In this edition of the Colombia Investment Summit, the first under the ‘Change’ government, the focus will be on Colombian regions. During the event, strategic regions of the country such as Antioquia, Valle del Cauca, Santander, Córdoba, Coffee Cultural Landscape, Magdalena, Atlántico, Bolívar, Meta, Cundinamarca, and Bogotá will host sectoral tours. These will enable investors to immerse themselves in the richness and diversity that ‘Colombia, the country of beauty,’ has to offer,” said Carmen Caballero, President of ProColombia.

Colombia Investment Summit Event Schedule

The event will kick off with a high-level academic agenda in Bogotá on November 20, featuring the participation of President Gustavo Petro Urrego, Minister of Commerce, Industry, and Tourism Germán Umaña Mendoza, and several members of the presidential cabinet.

The Colombia Investment Summit will also feature contributions from the Bogotá Chamber of Commerce, the Mayor’s Office of Bogotá, and Carmen Caballero, President of ProColombia, as the event host. Experts and analysts from the country’s investment environment will share their perspectives and knowledge with those in attendance.

Caballero added, “A key element of this edition of the Colombia Investment Summit is the strategic collaboration with Investment Promotion Agencies (IPAs) in the regions, which will play a fundamental role in presenting a strong and consolidated investment offering for Colombia as a leading foreign investment destination in Latin America.”

Foreign investors can forge strategic alliances, explore investment projects, and connect with critical entities for their entry into Colombia, including national government bodies, free trade zones, local authorities, associations, and regional promotion agencies.

Foreign Direct Investment: A Pillar of the Government Agenda

The Colombian government has reaffirmed its commitment to attracting investment that contributes to peacebuilding and benefits sectors most affected by inequality, in line with the values of social, economic, and environmental justice the country seeks to achieve.

ProColombia, as the leading entity promoting foreign direct investment in Colombia, works to drive sustainable growth in the country by facilitating the arrival of foreign investment that encourages innovation and technology transfer, generates value-added exports, and fosters human capacity development.

During the first year of President Gustavo Petro’s administration, ProColombia and regional investment promotion agencies (APRIs) facilitated the arrival of 178 new investment projects that are expected to create over 79,900 new jobs in various regions of the country over the next two to three years.

Colombia is an Attractive Destination for Foreign Direct Investment

Attendees at the Colombia Investment Summit will learn that the country has emerged as an attractive destination for foreign direct investment (FDI) due to a combination of factors that make it a compelling choice for international businesses. First and foremost, Colombia’s strategic geographic location in South America offers easy access to markets in North and South America, making it a gateway for companies looking to expand their presence in the region. Additionally, the country has made significant strides in improving its business environment by implementing economic reforms, reducing bureaucratic barriers, and enhancing legal and regulatory frameworks. These efforts have boosted investor confidence and facilitated smoother FDI processes.

Furthermore, Colombia possesses abundant natural resources, including oil, minerals, and agricultural products, which continue to attract FDI in sectors like energy, mining, and agriculture. The nation’s economic stability and steady GDP growth have also bolstered its appeal to investors seeking long-term prospects. Colombia’s youthful and increasingly skilled workforce also offers a competitive advantage, particularly in the technology and services sectors. The government’s commitment to innovation and technology-driven industries, coupled with a burgeoning startup ecosystem, has created opportunities for foreign investors looking to tap into the country’s entrepreneurial spirit. Collectively, these factors underscore Colombia’s status as a promising destination for foreign direct investment, with ample potential for sustainable growth and profitability.

Visit the Colombia Investment Summit 2023 website.

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