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Spain is Europe’s largest investor in Colombia, with over US$17 billion

RIO DE JANEIRO, BRAZIL – According to data from ProColombia, the number of Spanish companies in Colombia has increased significantly during the last decade, from 160 in 2011 to 600 today, in sectors such as infrastructure, software and IT, financial services, tourism, telecommunications and renewable energies, among others.

Ferrovial, Sacyr, Meliá, BBVA, Mapfre, Telefónica, Santander or Prisa are some of the Spanish companies that have made “significant” investments in Colombia.

Spain has invested US$1.7 billion (€1.5 billion) in Colombia in the last decade, according to the Balance of Payments of the Bank of the Republic. (photo internet reproduction)

As for the Spanish market, during the administration of President Iván Duque – between August 2018 and August 2021 -, ProColombia contributed to the attraction of 23 Spanish investment projects, worth over US$17.34 billion and with approximately 9,300 jobs generated.

GAES’ general manager in Latin America Alfonso Mostajo highlighted Colombia as a market with “a high potential that guarantees success for investors, with favorable conditions, a growing market and a strong economy, which has shown stability compared to other markets.”

In his recent state visit to Spain, President Duque stressed Spanish investors’ vote of confidence and announced seven new Spanish capital investment projects in Colombia for US$2.53 billion.

COLOMBIA INVESTMENT SUMMIT 2021 ATTRACTS US$6.87 BILLION IN INVESTMENTS

Colombia Investment Summit 2021, an event gathering over 1,000 participants and more than 300 companies, will seek to attract US$8 billion in investments.

During the summit, held until October 26, a portfolio of more than 150 projects will be presented with the potential to attract investments in sectors such as renewable energies, agribusiness, Industry 4.0, chemicals and life sciences, tourism, manufacturing and infrastructure.

The business summit’s 7th edition is focused on economic reactivation and sustainability, as well as on the role of foreign investment as a pillar of the country’s development and competitiveness.

“We have very high expectations for this new business summit and we are sure that, as in previous editions, it will positively contribute to the country’s economic reactivation and will drive the attraction of new foreign investment focused on sustainability, with business opportunities in the bioeconomy and biodiversity,” said ProColombia’s president Flavia Santoro.

During the summit there will be an academic agenda headed by Colombian President Iván Duque, several of the country’s government Ministers, including Minister of Commerce, Industry and Tourism María Ximena Lombana, and Minister of Finance José Manuel Restrepo or CAF (Development Bank of Latin America) President Sergio Díaz-Granados, among others, as well as executives of government entities, international personalities and senior executives of national and foreign companies interested in establishing business in Colombia or in using the country as an export platform.

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