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

U.S. Agricultural Business Mission to Bogotá Generates $6.2 Million in Deals and Enhances Trade Relations with Colombia

During a U.S. agricultural business mission to Bogotá, over 500 meetings were held between U.S. and Colombian entrepreneurs, generating $6.2 million in business expectations. The event, organized by the USDA and AmCham Colombia, featured 24 U.S. suppliers and 52 Colombian buyers, facilitating deals in products like meats and dairy. The mission included presentations on agribusiness opportunities, visits to major retailers like Éxito and Jumbo, and discussions to enhance the U.S.-Colombia Free Trade Agreement. AmCham Colombia will host another significant business event on September 10-11, bringing together 150 U.S. buyers and 300 Colombian exporters.s (AMCHAM COLOMBIA 2024).

Canadian Companies Strengthen Presence in Colombia with Major Investments in Mining and Financial Services; XIII Canada-Colombia Dialogue to Focus on Technology and Education

Colombia currently hosts over a hundred Canadian companies across various sectors, including airlines, retail, mining, banking, and energy. Canadian businesses are actively expanding their presence, with significant investments in mining and financial services. Notable Canadian firms include those in the Toronto Stock Exchange, with mining assets valued at $1.4 trillion, and Brookfield, managing $925 billion in assets. Canadian investments are recognized for their responsible and sustainable impact, fostering economic growth, job creation, and regional development. The XIII Canada-Colombia Dialogue on September 12 in Bogotá will focus on enhancing Canadian participation in technology and education sectors. Additionally, the launch of Impact Index+ Colombia introduces new investment opportunities in impact projects, targeting rural areas, women, and climate action, with $473 million already invested. This dynamic interaction highlights the strengthening economic and commercial ties between Canada and Colombia. (La Republica 2024).

TaskUs Celebrates First Year in Medellín with the Inauguration of 'The Gallery,' Its Third Operations Center in Colombia

TaskUs, a U.S. multinational specialized in digital services, customer experience (CX) solutions, artificial intelligence, and content security, marked its first year of operations in Medellín, Colombia, with the official inauguration of "The Gallery," its third operations center in the country and the first in this city. This new center, located in the Ruta-N business incubation complex, complements the two centers the company already has in Cali. Carmen Caballero, President of ProColombia, emphasized that TaskUs's expansion reflects foreign investors' confidence in the country (Finance Colombia 2024).

Colombian Non-Mineral Exports Surge by 26.6% in Four Key Departments: Risaralda Leads with a 60.5% Increase in the First Half of 2024

Between January and May 2024, the Colombian departments of Risaralda, Nariño, Huila, and Magdalena reported significant growth in non-mineral exports. According to the Ministry of Commerce, Industry, and Tourism, these regions collectively exported $1.047 billion USD in agricultural, agro-industrial, and industrial products, marking a 26.6% increase from the $827 million USD exported in the same period of 2023. Risaralda led with a 60.5% rise, reaching $344.1 million USD, driven by exports of liquid dielectric transformers, vehicles, and coffee. Nariño saw a 48.6% increase to $23.9 million USD, largely due to coffee and corn flour. Huila's exports grew by 15.2% to $317.4 million USD, boosted by coffee, tilapia, and cacao beans. Magdalena experienced a 12.5% increase, totaling $362.2 million USD, with notable growth in bananas, coffee, and fruits. Overall, non-mineral exports from January to May 2024 reached $8.810 billion USD, a 6% rise from the previous year (Finance Colombia 2024).

Politics

Colombia Emerges as a Digital Leader, Ranking Among Top Nations in the OECD Digital Government Index

Over the past decade, Colombia has made significant strides in leveraging technology to enhance public services and drive economic growth. The country has invested in Digital Public Infrastructure (DPI), which includes systems for digital social benefit distribution and appointment scheduling. According to the latest OECD Digital Government Index, Colombia ranks among the top countries, alongside Korea, Denmark, the UK, and Norway. This high ranking reflects Colombia’s successful initiative to develop a robust digital ecosystem, involving multiple government agencies to streamline operations, build trust, and bolster the digital economy. This collaborative effort positions Colombia as a leader in digital transformation in the public sector. (World Economic Forum 2024).

Colombia Tech Week 2024: A Landmark Event Positions Colombia as a Global Innovation Hub

Colombia hosted its first decentralized Tech Week from August 26 to September 6, 2024, with events in Bogotá, Cali, and Barranquilla. Led by key figures in the tech ecosystem, the initiative aimed to position Colombia as a global innovation hub. The event featured over 75 activities, attracting nearly 10,000 participants, including 1,000 international attendees and 150 investment funds. The agenda included international events like GoFest, Capital Summit, and Latam Fintech Market, along with various networking and industry-specific sessions, all designed to foster investment, innovation, and collaboration in Latin America’s tech scene (Forbes Colombia 2024).

Travel & Culture

17-Year-Old Ángel Barajas Wins Colombia's First Artistic Gymnastics Medal with Silver at Paris 2024 Olympics

At the Paris 2024 Olympic Games, 17-year-old Ángel Barajas made history for Colombian sports by winning the country’s first Olympic gymnastics medal. Barajas secured the silver in the horizontal bar finals, trailing only Japan’s Oda Shinnosuke, with China’s Zhang Boheng and Taiwan’s Tang Chia-Hung sharing the bronze. The young athlete from Cúcuta, who is also the second youngest competitor in his event, expressed his gratitude to his coach and family for their support. Barajas' achievement, the result of rigorous training and dedication, marks the start of what promises to be a successful career and serves as an inspiration to young athletes in Colombia and beyond (PANAM SPORTS 2024).

Colombia Showcases Musical Heritage in Beijing Event, Launches 'Colombia, the Country of Beauty' Campaign

On July 29, the Embassy of Colombia in China hosted a vibrant event in Beijing to showcase Colombia's rich musical culture, featuring the passionate melodies of Diana Burco. The event, organized in collaboration with ProColombia, launched the campaign "Colombia, the Country of Beauty," emphasizing the nation's diverse cultural and natural heritage. Colombian Ambassador Sergio Cabrera invited attendees to experience Colombia’s beauty firsthand and highlighted the significance of cumbia and vallenato in representing the country's soul. He also mentioned that Colombia will host the 16th Conference of the Parties to the Convention on Biological Diversity in Cali later in the year. Cumbia and vallenato, with their unique blend of African, indigenous, and Spanish influences, continue to play a crucial role in Colombia's cultural identity and its global artistic influence (Global Times 2024).

Colombia Expands Tourism Strategy to Attract Middle Eastern and Asian Visitors with New Flights and Visa Policies

Colombia is expanding its efforts to attract visitors from the Middle East and Asia by enhancing international flight connections, revising visa requirements, and promoting sustainable tourism. Traditionally drawing tourists from North America, Colombia aims to diversify its market, focusing on increasing international arrivals to Bogotá. The country is working with airlines to encourage layovers in Bogotá and is negotiating with carriers like Qantas and Air China to start new routes. With El Dorado International Airport being a major transit hub, Colombia seeks to convert transit passengers into stopover tourists. Additionally, Bogotá's tourism board is ramping up global promotional campaigns to boost visitor numbers to the capital (The National 2024).

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