Mexican Investment in Colombia Reaches USD 7.616 Billion

by | Jan 23, 2025 | FDI Latin America

More than 70 Mexican companies now operate in Colombian territory, showcasing a significant and growing economic partnership between the two nations. According to ProColombia, foreign direct investment (FDI) flows from Mexico to Colombia between 2000 and the first half of 2024 accumulated to USD 7.616 billion. This positions Mexico as the eighth-largest source of foreign investment for Colombia globally and the second-largest within Latin America, as Colombia’s Central Bank (Banco de la República) reported.

This robust investment flow is primarily driven by Mexican companies undertaking strategic projects that have significantly contributed to the growth of key sectors in Colombia. These sectors range from pharmaceuticals and construction materials to food and telecommunications, highlighting the diversification and impact of Mexican investment in Colombia.

Notable Mexican Investments in Colombia

One of the most prominent recent investments comes from the Mexican pharmaceutical multinational Sanfer. In 2007, Sanfer initiated its Latin American expansion strategy in Colombia by acquiring Laboratorios Bussié. In May 2024, the company inaugurated a new production plant in Bogotá with an investment of USD 35 million. This state-of-the-art facility, designed with advanced technology and sustainable practices, can triple the annual production of medicines. The plant not only strengthens the domestic supply of pharmaceuticals but also establishes Colombia as an export hub targeting markets such as Chile, Argentina, and Mexico.

In addition to its economic contributions, Sanfer’s Bogotá plant underscores its social impact, creating 950 direct jobs—70% of which women hold—and demonstrating its commitment to Colombia’s social and economic development. The company’s efforts align with global trends toward inclusive growth and gender equity in the workplace.

The ceramic coatings sector has also seen significant Mexican investment in Colombia, led by Grupo Lamosa, the second-largest ceramic tile manufacturer in the world. Since 2017, the company has invested over USD 50 million to modernize its two Colombian plants and expand production capacity. Strategic acquisitions, such as Eurocerámica in 2020 and Cerámica San Lorenzo in 2016, have complemented these initiatives. By enhancing the availability of high-value-added products in Colombia, Grupo Lamosa has solidified its position as a key player in the country’s construction materials industry.

Expanding Mexican Presence in Colombia

The arrival of Farmacias Similares, known in Colombia as Droguerías del Dr. Simi, marks another milestone in Mexican investment in Colombia. With its initial presence in Bogotá, the chain has made affordable, high-quality medications more accessible to Colombians. Moreover, the initiative supports local employment and extends aid to vulnerable communities through the Dr. Simi Colombia Foundation. This dual focus on economic and social contributions highlights the holistic approach Mexican companies bring to their operations in Colombia.

In addition to these recent successes, established Mexican corporations continue strengthening their foothold in Colombia. Grupo Bimbo, Cemex, Femsa, América Móvil (Claro Colombia), Cinépolis, Aeroméxico, and Sigma Alimentos are among the prominent names actively reinvesting their profits in the country. Their activities span diverse sectors such as food production, telecommunications, transportation, and entertainment, further diversifying the economic relationship between the two nations. 

ProColombia’s Role in Promoting Investment

ProColombia, the government agency responsible for promoting tourism, foreign investment, non-mining energy exports, and Colombia’s international image, plays a pivotal role in fostering these economic ties. The agency works to position Colombia as an attractive destination for investors and multinational companies, facilitating their entry and expansion in the national market. ProColombia also supports Colombian exporters in establishing global business connections.

Carmen Caballero, President of ProColombia, emphasized the transformative impact of Mexican investment in Colombia. “Mexican investment transforms territories, generates employment, fosters sustainability, and strengthens competitiveness in key sectors. This mutual commitment positions Colombia as a strategic destination for investment in Latin America,” she stated.

Mateo Gómez, director of ProColombia’s commercial office in Mexico, echoed this sentiment, highlighting the deepening partnership between the two nations. “Mexican investment in Colombia reflects the trust and commitment of our nations to building a shared future. ProColombia Mexico supports Mexican investors by providing strategic information, facilitating connections with local partners, and guiding them through every stage of their projects in Colombia. We are here to ensure that every investment translates into success and mutual benefits for both countries,” he said.

A Collaborative Future

Mexico and Colombia’s collaborative efforts extend beyond economics, fostering cultural and social ties that strengthen their bilateral relationship. Mexican companies’ emphasis on sustainability, innovation, and community engagement aligns with Colombia’s broader development goals. These shared values create a foundation for further collaboration, paving the way for new investments that can address emerging challenges and opportunities.

As Mexican companies continue to expand their operations in Colombia, the bilateral partnership is set to grow even stronger. The investments enhance Colombia’s industrial and economic landscape and contribute to regional integration within Latin America. ProColombia’s role in facilitating these investments ensures that both nations reap the benefits of a dynamic and mutually beneficial relationship.

Conclusion

In conclusion, the growing presence of Mexican investment in Colombia underscores the depth and potential of the bilateral relationship between the two nations. Mexican companies have become integral to Colombia’s industrial and economic growth through strategic investments, innovative projects, and a commitment to social and economic development. As sectors like pharmaceuticals, construction materials, and telecommunications continue to thrive, the partnership between Mexico and Colombia serves as a collaboration model in Latin America. With ongoing support from agencies like ProColombia and the shared vision of both nations, the future of Mexican investment in Colombia promises even greater opportunities for mutual prosperity and regional integration.