The investment promotion agency for Bogotá, Invest in Bogota presented opportunities to investors through a robust agenda of participation in strategic events and meetings with key actors in Europe, seeking to generate dynamism in the region, employment, technological transfer, and positioning Bogota as an export platform committed to complying with the SDGs, among other aspects.
During this visit to Europe, topics such as decarbonization, transition to a circular economy, and commitments to climate change were addressed with the aim of migrating towards responsible investment, allowing Invest in Bogota to explore investment opportunities for the Bogota Region together with some companies in Germany and Spain, which were prioritized.
Entrepreneurs stated that despite the difficulties, inefficiencies, and challenges of the region, there are four major markets that have been the preferred destination for investment and will continue to be the reference and preferred markets for this type of investor: Mexico, Colombia, Chile, and Brazil. Together, these countries are responsible for more than two-thirds of Latin America's GDP and present great opportunities in areas such as sustainable infrastructure, renewable energies, waste management, electric vehicles, water management, healthy foods and agribusiness, and energy transition, among others.
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In the last 10 years, Bogotá has received 576 new investment and expansion projects from Europe, valued at USD 9.071 billion, which generated around 50,000 jobs.
The executive director of Invest in Bogota, Isabela Muñoz pointed out that "Spain, with 38.7%, and Germany, with 9.7%, stand out as the main investing countries. Additionally, Bogotá Region concentrated 57.6% of the projects, 36.5% of the investment amounts, and 41.5% of the jobs generated by foreign direct investment that came to Colombia from Europe. This positions the Bogotá-Cundinamarca Metropolitan Region as the preferred destination for European investors in Colombia."
During the trip, the agenda was focused both on evaluating actions that help foster business in the country and the city, as well as giving visibility to the immense potential that the Colombian capital has to host operations of international companies seeking to expand or enter the Latin American market.
These great opportunities also bring challenges to different markets, mainly for emerging economies, as is the case with several countries in Latin America, because "to fully integrate into this ecosystem of sustainable investment, it is necessary to work hard on available information, incentives, regulations, removal of barriers, reliable metrics, among other necessary elements to continue positioning Bogotá Region as the star investment destination in Latin America," Muñoz concluded.
