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June 29, 2021

Colombia

Bogota: at the top 10 of the Foreign Direct Investment ranking

Bogotá has been recognized as the second most important destination for foreign direct investment in Latin America.

According to the Financial Times, Bogotá surpassed the city of Santiago de Chile, Sao Paulo, and Buenos Aires as the second city with the most future in the region.

_{“The Private Competitiveness Council of the University of Rosario measured the competitiveness of the country’s 23 cities using 97 indicators grouped into ‘pillars’ such as sustainability, health, infrastructure, and business. Bogota, Medellin, and Manizales topped the table, achieving scores of 7.41, 7.00, and 6.14 out of 10 respectively.” (Colombia reports, 2019)}

The ranking of the Financial Times “fDi intelligence” about the 10 top cities in Latin America, was made considering several conditions such as the amount of direct foreign investment that went into the cities, besides measuring the city’s strategy of attraction of capital investment.

Every person has a talent, a unique way of comprehension, and a manner of managing things. Therefore, if all of that abilities combine in one place, we can easily end up with a highly skilled, working, and diverse city based on human talents, like Bogota.

Colombia: the next Latin American Silicon Valley

In addition to that, the city’s town hall reported that this release was constructed considering that worldwide cities are pulling out from the Covid-19 crisis. And that their implementation of new politics to reactivate the economy is how the sixth edition of the “Future cities of the Americas” was shaped on.

Bogota accomplished to climb up five positions in the last four editions.

Source: Forbes

Having said that, Bogotá received 44% of the country’s foreign investment projects. The ranking not only saw this but the economic potential of the city, the easiness of doing business, its cost efficiency, and the connectivity.

Colombia moving forward do 5G connectivity

What about the efforts to attract foreign direct investment?

The capital certainly gave its hundred percent. As Invest In Bogotá, an investment promotion agency ran in January of this year highlighting the capacity of moving forward to reset the economy.

_{“This recognition that the capital is receiving, in the midst of the worst economic and social crisis in its history, shows the positioning that Bogotá has achieved as a business destination in Latin America. And the importance of foreign investment for the city, which encourages the attraction of new projects that contribute to the economic recovery and the generation of new jobs ”, highlighted Mauricio Romero, executive director of Invest in Bogota.}

Also, the city was selected as one of the co-host cities of CityLab 2021. A world summit of cities organized by Bloomberg Philanthropies and the Aspen Institute that explores urban solutions that have a global impact; in fact, one of the innovative policies presented was the SALUDATA, a digital platform. Which was developed as a strategy of transparency and access to public information for the citizens. To view in real-time the main data on the evolution of COVID-19.

However, the capital doesn’t stop there. It was also acknowledged in the category of “Strategy to attract Foreign Direct Investment” where it ranked as eighth among the ‘American cities of the future 2021/22’, competing against New York, Montreal, Atlanta, and Chicago.

Nevertheless, with the income of new projects and companies, the city will develop better social and economic conditions for its citizens. By the creation of high-quality jobs, competitive salaries, and intercultural exchange. The city is so appealing that globalized companies like Optimizely, Concentrix, and Mercado Libre have just established their hub operations in the territory.

But, what do you say? Will Bogotá be at the top of the list in 2022? Make your bets in the comments. And please, don’t forget to follow us on LinkedIn, Facebook, Twitter, and Instagram.

Original piece: https://cutt.ly/mmo1AVq

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Colombia: the next Latin American Silicon Valley.