REASONS TO INVEST IN COLOMBIA
It is the third largest and most dynamic economy in the region and the third most populous country in Latin America, divided into five important business centers, namely Bogotá, Medellín, Barranquilla, Cali and Cartagena. These factors have contributed to developing a robust business fabric that supports the implementation of new markets, ensuring not only the supply and distribution chain, but the possibility of finding allies, clients and a network for business development.
Colombia responds positively to the UN’s global sustainable development goals, with clear purposes on environmental issues, as it was one of the first countries in the region to include the SDGs in a National Development Plan, and implement the environmental taxonomy to classify which investments and economic activities are sustainable in the context of the European Green Pact, being also a leader in energy transition, which places it among the most attractive countries to invest in sustainable tourism, circular economy and bio economy.
Another advantage for foreign investment in Colombia is its competitive export platform, given its excellent location. In addition, investors benefit from the reliability and quality of the products and services that have positioned Colombia as one of the best suppliers in Latin America, given the quality of its export of, including without limitation, oil, precious metals, coffee, flowers, bananas, avocados, fruits in general, sugar and its derivatives, plastic products.
Thus, in Colombia we have a solid business structure, which has more than 1,110 startups from different economic sectors. All this without ignoring the quality of the workforce, its competitiveness, responsibility, commitment and training in different disciplines.
For the entry of the foreign companies into the country, different possibilities are provided such as the Single Investment Window (Ventanilla Única de Inversión), as well as an incentive policy in multiple sectors, tax exemption programs, free trade agreements and free zones.
WITH WHOM TO MAKE BUSINESS IN COLOMBIA
Industrial and pharmaceutical sector.
One of the objectives of the National Government is to strengthen India’s investment in Colombia, mainly in sectors such as pharmaceuticals, agro-industrial, electric mobility, food security and the aerospace industry, in order to contribute to sustainable economic development.
The intention is to achieve integration with Asia, so that potential markets in that region, such as India, are Colombia’s trading partners in its re-industrialization process, agro-industrial development and contribute to the technification of the country’s productive apparatus, in favor of internationalization, which contributes to the UN SDGs.
Tourism Sector.
Traveller Made, based in Sion, Switzerland, the largest network of luxury travel designers in the world, accepted Colombia as a member country; thereby, Colombia has access to the main global business network, which already includes 3,200 travel agents and 445 international companies specialized in high-end tourism.
It is an organization that brings together agencies selected only through invitation, as long as they have the status of custom-made travel designers, who are able to provide vacation plans, tailored to customer requirements, in the best destinations in the world. This topic is worth looking at, as tourism between India and Colombia is still unexplored.
Article written by
Aura M. Rios
Director At Rios Lawyers Advisors & Consultants
Bogota D.C., Colombia
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