Bogota is the main destination for Foreign Direct Investment coming to Colombia from the Middle East, which includes countries such as Saudi Arabia, Armenia, Azerbaijan, Bahrain, Qatar, United Arab Emirates and Turkey, among others.
A recent analysis by the investment promotion agency Invest in Bogota showed that in the last decade a dozen new investment and expansion projects from the Middle East have arrived in Colombia for more than 81 million dollars.
Bogota, with more than 70% of the projects and investment amounts, appears as the epicenter of Middle Eastern investment in Colombia, a position that the city hopes to revalidate with its participation in Expo Dubai 2020.
“Bogota has important projects that can undoubtedly generate interest in international investors present at Expo Dubai 2020,” said the Executive Director of Invest in Bogota, Isabella Muñoz, who recently represented the city in the global business fair.
During her trip to Dubai, Muñoz socialized some the opportunities offered by the city in sectors such as infrastructure and dynamic entrepreneurship. Her agenda included meetings with the investment holding Dale Ventures, the investment promotion agency Dubai FDI, Dubai Tourism, or the investment fund Asas Capital, amongst others.
The city’s participation in Expo Dubai 2020 is aimed at attracting investments from strategic markets such as the African Middle East and South Asia (MEASA), specifically for more than 25 multi-sector projects in the mobility and infrastructure sectors, such as the second line of the Bogota Metro, CANOAS, Bronx Creative District, among others.
The analysis of investments made by Middle Eastern countries in Bogota shows that the projects that have landed in the city correspond to economic sectors as diverse as corporate services, financial services, transportation, aerospace and software and IT services.
Invest in Bogota expects that new and expansion foreign direct investment flows grew by nearly 39% in 2021 compared to 2020, a number that could put the city on track to return to investment levels like those recorded prior to the onset of the pandemic.