In the three years of Duque's government, non-mining foreign investment has risen 196%

Despite the fact that the covid-19 pandemic interposed itself in the work agenda of President Iván Duque, affecting the economic activity of the country and generating company closures and the loss of thousands of jobs, the Foreign investment non-mining energy has grown 196% in the three years of his administration compared to the three previous years.

Agree With ProColombia, the arrival of new investment flows has generated more than 260,000 new jobs.

“Between August 2018 and until August 2021, ProColombia has supported the arrival of of 598 investment projects for US $ 25,400 million, a figure that represents an increase of 196% compared to what was registered during the previous three years, and in which, according to investors, it is estimated the creation of more than 265 .000 new jobs in 111 municipalities in 25 departments of the country “, assured President Flavia Santoro.

The regions where foreign investment has reached the most in this three-year period are Bogotá, Antioquia, Valle del Cauca, Cundinamarca, Atlántico, Bolívar, Santander and the Eje Cafetero.

“Sectors such as agribusiness, infrastructure, Industries 4.0, business and financial services, manufacturing and renewable energies, are those with the highest number of initiatives. It should be noted that our work to promote investment attraction has scope in all non-mining energy productive sectors of the country “, Santoro specified.

The loss of investment grade by from Fitch Ratings and Standard and Poor’s, has not stopped the arrival of investor anchors to the country and, in fact, with the decision of Moody’s , it is expected to improve investor confidence.

“We had projected the attraction of four investor anchors per year, in 2021 the goal was adjusted to 20 in the year and 63 have reached the date. These will develop 79 projects in the short and medium term, for an estimated value of US $ 11,228 million. The investment comes from 27 countries, including the United States, Canada, the United Kingdom, France, Spain, the United Arab Emirates, China, among others, ”said Santoro.

For the minister Minister of Finance, José Manuel Restrepo, “Colombia has a resilient economy, with the ability to reach consensus to implement prudent and effective macroeconomic policies even in times as difficult as a pandemic. The world also sees us this way, and reaffirms its confidence in us. ”

María Claudia Lacouture, executive director of AmCham Colombia, stated that“ the improvement in Colombia’s outlook from negative to Stable and maintaining the investment grade rating of Colombia by Moody’s is important news for the country’s investor confidence and highlights the effort of the consensus made by the Government and the commitment of the business sector to be the basis for the recovery of the country’s public finances, taking into account that it will be the companies that will make an important contribution in resources as approved in the recent tax reform. ”

With regard to the challenges for the remainder of 2021 and for next year, foreign investment is expected to grow 46.2% and 15.9%, respectively.

of FDI to the country will be US $ 11,175 million in 2021, which represents an annual growth of 46.2%. By 2022, direct investment flows are expected to continue to recover and reach US $ 12,953 million, growing 15.9% compared to what is projected for 2021, this according to the Medium-Term Fiscal Framework of the Ministry of Finance “, he concluded Santoro.

ProColombia will hold the Colombia Investment Summit 2021 to attract more investment

In the meeting with investors between October 20 and 26, in a hybrid way, ProColombia will present a portfolio with more than 150 projects valued at more than US $ 8,000 million in sectors such as renewable energy, agribusiness, Industries 4.0, chemicals and life sciences, tourism, manufacturing, infrastructure, among others. In 2020, the event, which was virtually due to the covid-19 pandemic, left 15 advertisements with investment projects for US $ 1,340 million.