Why Colombia?

Colombia has the fourth-largest economy in the region and stands out for being one of the most stable economies in Latin America. Also, Colombia offers an attractive domestic market of more than 52 million inhabitants, being the 3rd largest country in Latin America and has multiple regions and business centers with a wide variety of sectoral demands. Furthermore, the attractive incentive policy and the preferential access that Colombia offers to more than 60 countries and 1.5 billion consumers around the world boost the arrival of investments.

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Latest News

Economy & Business

GreenYellow Secures $43 Million USD Financing for 85MWp of Solar Power Generation in Colombia

French multinational GreenYellow secured $43 million USD financing from Banco de Bogotá for an 85MWp solar power portfolio in Colombia, demonstrating confidence in the regional energy market. The project finance deal allows the refinancing of solar parks and self-consumption projects, contributing to Colombia's renewable energy expansion. GreenYellow's $71 million USD investment supports over 130,000 solar panels installation (Finance Colombia, 2024).

Colombian Non-Mining and Energy Exports Increased by 10.3% in the First Two Months of 2024

Colombia's non-mining exports have surged by 10.3% in the first two months of 2024 compared to the same period in 2023, as reported by the National Administrative Department of Statistics (DANE). February alone saw a year-over-year growth of 9.8%, with both volume and value experiencing significant increases. Notably, Colombia shipped 758,133 tonnes of goods globally in February 2024, a 23.2% rise from February 2023 (Finance Colombia, 2024).

Colombian Agricultural Sector Generated 244,000 Jobs in January

In January 2024, Colombia's rural sector saw a significant rise in employment, particularly in agriculture and related activities, with 3.2 million people employed, an 8.3% increase from January 2023. Nationally, the unemployment rate dropped to 12.7%, and the employed population reached 22 million, up 2.5% from the previous year (Finance Colombia, 2024)

Ruta-N and SAP Announce Alliance To Support Entrepreneurship and Investment in Medellín

SAP's President for the Northern Region of Latin America and The Caribbean, Marcela Perilla, announced a new initiative at Ruta-N, Medellín’s business incubator, to support small businesses and local companies with solutions that complement SAP software. The program, named Startup Innovation Journey, offers mentoring in innovation to help startups grow and expand through access to technology and market opportunities provided by SAP (Finance Colombia, 2024).

Politics

How Colombia’s electric buses are countering climate change and creating jobs for women

In 2023, Colombia joined a novel project launched by UNEP and the German Federal Ministry for Economic Cooperation and Development. The initiative, which spans six countries, is designed to ensure a gender-inclusive shift to electric transport, creating jobs for women and ensuring public transit meets their needs (UNEP, 2024).

UAE and Colombia sign comprehensive economic partnership agreement

On April 18th, the United Arab Emirates (UAE) signed a comprehensive economic partnership agreement with Colombia, as announced by President Sheikh Mohammed bin Zayed. This agreement is seen as a catalyst for a new phase of cooperation and mutual economic growth between the two countries. The announcement follows a similar agreement signed with Costa Rica the day before. The agreement with Colombia aims to enhance bilateral trade flows by reducing tariffs, eliminating trade barriers, and increasing investments in sectors such as energy, tourism, and infrastructure (Reuters, 2024).

World Bank approves $750 mln climate change loan to Colombia

The World Bank has approved a $750 million loan to Colombia aimed at enhancing the country's resilience to climate change. The loan will support efforts to develop renewable energy sources such as solar and offshore wind energy, as well as promote the production of green hydrogen. Additionally, the funding will be used to strengthen electric urban transport and multimodal transportation systems. This loan marks the World Bank's second investment in Colombia focused on climate change, following a $1 billion loan granted in December 2022 (Reuters, 2024).

Travel & Culture

Colombia Tourism Promotes Sustainable Investments at London Roadshow

The Colombia Investment Roadshow (CIR) will be held on April 23rd and 24th at Raffles London, focusing on sustainable investment opportunities in Colombia's infrastructure, energy, and tourism sectors. The event aims to attract top-tier investors from the UK and Europe to drive sustainable development, reindustrialization, and regional growth. Emphasizing technology transfer and partnerships between enterprises, the roadshow seeks to create employment opportunities and foster Colombia's competitiveness in renewable energies and infrastructure (Travel and Tour World, 204).

Cartagena Opens New Center to Promote Responsible Tourism

Cartagena has launched Casa del Consumidor Turista, a new tourism center, to promote responsible tourism in the city. Opened in March, the center provides information to tourists, supports fair trade, and protects vulnerable populations. Supported by various organizations, including the Colombian Ministry of Commerce, Industry, and Tourism, the initiative aims to enhance the tourism experience while respecting local communities. Located within the historic Walled City, the center complements existing visitor service centers and addresses tourism-related disputes (Finance Colombia, 2024).

Brazil reaffirms cultural and diplomatic partnerships with Colombia

The 36th Bogotá International Book Fair (FILBo 2024) strengthens Brazil-Colombia relations. Minister Margareth Menezes and a Brazilian Ministry of Culture delegation discussed collaboration in various cultural sectors. Brazil, as guest of honor, focuses on "Reading Nature," with President Luiz Inácio Lula da Silva attending. Talks between Presidents Lula and Petro cover trade, investment, and social issues, with a memorandum of understanding signed to promote cultural collaboration. Brazilian cultural organizations like the Palmares Foundation demonstrate commitment to exchange with Colombia (Presidency of the Republic of Brazil, 2024).

Colombia´s Trade Partners

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