Foreign Direct Investment in Bogota grew 78% in 2021

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Apr 21, 2022, 12:00 ET

BOGOTA, Colombia, April 21, 2022 /PRNewswire/ -- The arrival of greenfield Foreign Direct Investment (FDI) had a significant rebound in the Bogota Region in 2021, exceeding USD 1,551 million through 115 investment projects. The investment amounts show a 78% growth compared to 2020, according to the analysis conducted by the investment promotion agency Invest in Bogota.

"FDI growth was in line with the significant economic recovery experienced by the city. We found that the main countries of origin of the projects were the United States (34%), Mexico (10%), Spain (9%), Argentina (6%) and China (5%)," explained the Executive Director of Invest in Bogota, Isabella Muñoz.

The sectors that led FDI attraction during 2021 in Bogota Region were software development, IT and outsourcing services (26%), communications (16%), corporate services (8%), consumer products (7%) and leisure-entertainment (7%).

FDI in new and expansion projects received by Bogota Region generated more than 20,000 direct jobs, double what was recorded during 2020.

Mergers and acquisitions, investment drivers

In addition to greenfield FDI, Bogota Region received investments through mergers and acquisitions through 140 transactions valued at more than USD 2,050 million during 2021. The main countries of origin of mergers and acquisitions were the United States (46%), Brazil (11%), Mexico (9%), Chile (8%) and Spain (7%).

"We celebrate that today Bogota is one of the most attractive cities for investors in the region. However, we have the challenge of continuing to generate confidence, strengthening the ecosystem to attract much more capital, but, above all, to ensure that all these projects translate into jobs and well-being for all Bogota residents," said Alfredo Bateman, Bogota's Secretary of Economic Development.

2022, the year to boost investment

In terms of FDI, the city aims to recover the dynamism it had before the pandemic. By 2022, the communications, software development, IT and service outsourcing sectors are expected to be the main industries receiving investment, in line with the capital's service vocation.

"From Invest in Bogota we have been working to strengthen the strategy of business attraction through FDI and, recently, the attraction of events and meetings in the capital. We are aware of the relevance of FDI as a driver of economic and social development, so we are focused on identifying opportunities that contribute to the generation of employment, the transfer of technology and knowledge, as well as investments that promote the Sustainable Development Goals in the city," Muñoz concluded.

CONTACT: Miguel Hernández, [email protected]

SOURCE Invest in Bogota