The Colombia Investment Summit 2021 Concluded With Promising Opportunities For 150 New Foreign Investment Projects

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November 08, 2021
More than 1,500 attendees, virtual or in-person, participated in the academic day and sectorial meetings of the investment summit led by the country’s Ministry of Commerce, Industry, and Tourism and ProColombia.

With a portfolio of more than 150 projects valued at more than US $8 billion, Colombia Investment Summit 2021, recently concluded its seventh year with promising business leads and impressive supporting testimonials from international companies that recognize the forigen direct investment potential in the country

"The Colombia Investment Summit is a dynamic platform for networking and attracting foreign investment opportunities, which continues to captivate the interest of businesses from around the world and multilateral organizations that are inquiring about our country, said Flavia Santoro, president of ProColombia.” The outcome of our Colombia Investment Summit is very satisfactory, and these leads ultimately contribute to the growth and economic reactivation of Colombia."

More than 300 multinationals from Europe, Asia, Latin America, and North America participated in the summit and held business meetings with Colombian entrepreneurs, project representatives, and support entities. During this year’s event, the president of the Inter-American Development Bank- IDB, Mauricio Claver-Carone reaffirmed the support of the multilateral organization to the 5G road infrastructure program of the National Government. "We are interested in supporting the bicentennial program of the fifth generation of concessions in the country, said Claver-Carone.”“The IDB is convinced of the enormous potential of Colombia as a destination for foreign investment and we are committed to helping the government and investors to take advantage of the opportunities."

Part of these initiatives also include the legal, financial, and technical structuring of the project to restore the navigability of the Magdalena River, valued at more than US $375 million.

The Colombia Investment Summit 2021 also left a strong impression amongst international business executives who recognize Colombia as an attractive investment destination and acknowledged the advantages of its national market.

For Javier Villamizar, operating partner at Softbank - a multi-sector fund of Japanese origin, that has made significant investments in Colombian ventures such as Rappi, a delivery startup; Ayenda Hoteles, one of the fastest-growing hotel chains in Latin America; and Platzi, an e-learning platform, among others, Villamizar believes that Colombia has a friendly ecosystem to invest in. "We invest in talent and we bet on entrepreneurs. We need a country that has made investments over the last few years in talent training, and we’ve consistantly seen this in Colombia for the last two years. The combination of talent and government support makes it an attractive market.”

In addition to entrepreneurship, there are sectors with important development and investment opportunities, such as renewable energies.

For Federico Echavarría, general manager of AES a Fortune 500 company that generates and distributes electrical power, "Colombia is a pro-market economy, the electricity sector operates under market rules. That is very important for a multinational, to be able to install its operations in a country that believes in the market, and at the end of the day, contribute to the benefit of the final consumer. Colombia is a country that welcomes foreign capital, AES in Colombia feels comfortable, feels welcome, and feels that it contributes to the development of the country."

The infrastructure segment also reflects the dynamism and potential for attracting foreign investment, said Federico Gimeno, vice president of business development at I Squared Capital, a global infrastructure investment manage, "We have already invested in Colombia twice, in infrastructure, and we expect to continue investing in the near future. I Squared Capital looks for markets where there are possibilities of growth, where there is economic dynamism, but at the same time where there are clear rules of the game andan important investor protection. We look forsupport from governments both at a national and local level for all investors who are looking to support the development of a country".