For Edward Moya, senior market analyst for Oanda, a leader in forex and CFD trading and data, Colombia will continue to be one of the most prominent emerging markets, once COVID-19 passes or at least controlled in the country and Latin America.
As stated by Moya, Colombia’s uptick in the fourth quarter of 2020 must be very strong and counteract the impact of confinement measures from past months. In addition, he added that the Bank of the Republic has done a good job during the pandemic and will likely announce further interest rate cuts.
“Logic may suggest that investment should target smaller Asian economies. However, many investors anticipate a greater advantage for their capital if they choose very well the emerging markets to which capital should be directed,” Moya concluded.
In addition, Colombia confirms its attractiveness as an investment and business destination. This is reflected in the 112 projects managed and captured by ProColombia between January and August 2020, with businesses of USD 6,716 million. This represents a 32% increase compared to the same period in 2019, along with the projection of generating more than 38,700 jobs.
“Foreign investment has proven to be a vehicle for growth and development, generating dynamics for the country’s economic revival and competitiveness. At a time when investors are looking for safe and profitable shelters, Colombia stands out as a great alternative in Latin America, the figures prove it and the interest of entrepreneurs confirms it. 76% of the amounts we announce correspond to new investments and 24% to reinvestments. It is a response of trust and commitment to Colombia,” said Flavia Santoro, president of ProColombia.
The new projects are aimed at sectors such as infrastructure, agribusiness, tourism, capital funds, orange economy and creative industries, renewable energies, metalworking, and retail, among others.
Investments came from 32 countries in the Americas, Europe and Asia, including Argentina, the United States, Germany, the Netherlands, China, Spain, Switzerland, Poland, the United Kingdom, Ireland, Uruguay, Costa Rica, Panama, France, Australia, Singapore, India, Israel, Azerbaijan, Guatemala, Honduras, South Korea, Canada, Venezuela, Chile, Indonesia, Thailand, Brazil, Peru, Mexico, Japan and Ecuador.