Colombia’s Duque says his administration has attracted US$32 billion in foreign investment

RIO DE JANEIRO, BRAZIL – Iván Duque, President of Colombia, announced that in the three years of his mandate, he has managed to attract US$32 billion in foreign investment in more than 610 projects.

“We are a nation that understands that it is not possible to build progress without companies and that democratic solidity cannot be generated if there is no respect for private initiative,” said the president during the inauguration of the Investment Summit 2021, the foreign investors’ summit organized by ProColombia.

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The geographical location and tax benefits available to companies entering Colombia are the main attraction.

Duque recalled that as a result of official visits to Spain, the United States, and Brazil, an additional US$6 billion would be invested in the country over the next two or three years.

“As we saw a week ago in New York, more than US$2 billion in investment, in 11 mega projects, or as we saw weeks ago in Madrid, where more than US$1.3 billion began to feed the desire to be in Colombia.”

He detailed that Colombia is a country that has institutional stability and respect for entrepreneurship and has been “founded by the principles of private property”. “This shows that we are a resilient economy, which has made the right decisions at the right time.”

INVESTMENT SUMMIT EXPECTS US$8 BILLION IN INVESTMENTS

The Investment Summit 2021 seeks the economic reactivation and sustainability of the country, as well as the attraction of US$8 billion in foreign investment through 150 projects.

The event, from October 20 to 26 in Bogota, Colombia, will feature more than 300 international companies from Europe, Asia, Latin America, and Central America.

The industries that will participate are energy, renewables, agribusiness, industries 4.0, chemicals and life sciences, tourism, manufacturing, and infrastructure.