As one of the most committed countries to achieving the UN’s Sustainable Development Goals, the Colombian government, led by president Gustavo Petro, invites investors to place their trust and capital in the nation with the most robust democracy in Latin America.
According to Carmen Caballero, president of ProColombia, “Colombia seeks to take the potential for industrial and economic development in all regions of the country to a new level, as well as the incorporation of SMEs into global value chains.”
This aims to contribute to economic growth, reducing inequality, promoting gender equity, and ultimately, building comprehensive peace, as well as positioning Colombia as a global powerhouse.
“We aim to take the potential for industrial and economic development in all regions of the country to a new level, as well as the incorporation of SMEs into global value chains.”
One of the pillars supporting the notion that Colombia is a unique investment destination is its geostrategic location, which makes it an excellent export platform. Its air and maritime connections provide competitive delivery times, with access to the US in just five days and access to the Netherlands and other European ports in 12 days. Additionally, Colombia has a network of 17 trade agreements that provide preferential access to 97% of the markets in the region, making it an ideal destination for reaching third markets.
Thanks to its location in the equatorial zone and diverse climatic conditions, the Colombian agricultural frontier possesses a significant percentage of highly fertile soils, along with abundant and high-quality water resources. Noteworthy are the presence of volcanic soils, andisols, and molisols, ideal for agriculture, with more than 32 million hectares of land available in the country and used close to seven million. These favourable conditions make Colombia an attractive option for agro-industrial investment.
Furthermore, Colombia enjoys year-round sunlight, two oceans, and strong winds in deserts and high peaks. Consequently, the country has implemented a modern regulatory, institutional and market framework to diversify its energy matrix. This aims to reduce dependence on water sources for energy generation and aligns with its commitment to become a global sustainability powerhouse. According to the 2050 Energy Plan published by UPME, it is expected that 25% of the energy matrix will come from non-conventional renewable energy sources to meet climate goals and achieve carbon neutrality by 2050.
The energy transition is a priority for the government. Carmen Caballero, president of ProColombia, says: “We want to promote international projects that contribute to offsetting emissions and foster investment opportunities in energy transition, circular economy, sustainable tourism and bioeconomy”. To this end, comprehensive and robust new legislation is being developed, currently undergoing the legislative process in Congress, which will establish Colombia as one of the most important champions of the bioeconomy.
Colombia also stands out as a significant business centre in the region due to its diversified and consistently growing economy, with key sectors such as technology and financial services. This is just a glimpse of what the South American nation offers foreign investors to protect and enhance their investments.
In 2023, 310,000 companies were created in Colombia, supported by the Ministry of Commerce, Industry and Tourism’s intention to facilitate foreign investment that promotes innovation and technology transfer, generates value-added exports, fosters human capacity development, creates quality jobs, and contributes to integrating micro, small, and medium-sized business in the country into global value chains.
Experience has already been gained in developing specialised IT solutions in verticals such as fintech, healthcare, agribusiness, oil and gas, energy and telecommunications, logistics, government, digital marketing, virtual and augmented reality, business, and big data. More than 20 data processing centres have also been established by companies such as IBM. Additionally, it has a competitive shared services centre industry with expertise in human resources, finance, procurement, logistics, technology, general and administrative services, and digital transformation, ensuring high levels of efficiency and strategic support.
Colombia also stands out as an exporter of high-quality audiovisual content, including series, novels, reality shows, documentaries and cultural programs. The film industry has received recognition at prestigious international events such as the Oscars, Golden Globes and Cannes Film Festival. Moreover, the country offers high-quality production services with state-of-the-art equipment and demanding standards, along with significant incentives for production companies choosing Colombia and its diverse geography as a location.
The country relies on its workforce as its most valuable resource. Colombia ranks third in the region in terms of the availability of skilled labour, and has three universities in the top 500 worldwide and 13 in the top 100 in Latin America.
In Colombia, investors can find an ideal business environment, favourable government policies, strategic location and consistent economic growth. According to the World Bank, this year’s projected growth is 5.4%, while the IMF estimates a growth rate of 6.3% and the ODCE calculates a growth rate of 6.1%.
“We are more than ready to be the extended arm of entrepreneurs and their companies,” Ms Caballero adds. “We know that together we can achieve great things, and we have much more to offer.”
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