Bogotá, Colombia. May 7, 2024. Invest in Bogota, a subsidiary of the Bogota Chamber of Commerce, has been awarded as the best investment promotion agency in Latin America and the Caribbean at the prestigious Annual Investment Meeting (AIM) in Abu Dhabi. This event has positioned itself as the world's leading investment platform, where more than 12,000 international participants from 175 countries gather to discuss effective investment promotion strategies and facilitate opportunities for economic development. During 2023, Invest in Bogota channeled relevant foreign investment to mitigate the slowdown scenario resulting from the pandemic. Its strategy was based on the development and implementation of methodologies, analysis and technical processes to track investment trends, understand the drivers of investment flows and identify key segments and niches such as knowledge-intensive services, value-added manufacturing and smart infrastructure. As a result, 2023 became the best year for the Corporation, a subsidiary of the Bogota Chamber of Commerce, in terms of generating new opportunities (355) and assisting new and established companies (332), materializing 41 investment projects valued at USD 231 million, creating more than 6,000 direct formal jobs, and supporting 12 strategic infrastructure projects for the city.

Regarding the attraction of world-class events, the Convention Bureau generated 307 opportunities and 63 events materialized, representing an economic spillover of USD 23 million, 38,650 attendees and 77,288 hotel nights. Likewise, Bogota resumed its positioning in international scenarios through specialized fairs and trade missions, in addition to strengthening its presence in local events of articulation with the city's ecosystem.

Dr. Ovidio Claros Polanco, executive president of the Bogota Chamber of Commerce, said: “On behalf of the Bogota and Cundinamarca Chamber of Commerce, we would like to express our most sincere congratulations to our subsidiary Invest in Bogota, for having been awarded as the best investment promotion agency in Latin America and the Caribbean 2024. This is a well-deserved recognition of Invest in Bogota's exceptional track record, as it channeled relevant foreign investment to mitigate the slowdown scenario. Its strategy was based on the development and implementation of methodologies, analysis and technical processes to track investment trends”. “This recognition ratifies Bogota-Region as a platform for business expansion and growth.This, thanks to the various attributes of the city such as efficient and qualified human talent, economic stability and strategic geographical position, highlighting the El Dorado airport as the best cargo airport and the second in passenger movement in Latin America", Isabella Muñoz, executive director of Invest in Bogota. The impact of this recognition will translate into the city's international visibility among potential investors and decision-makers.On the one hand, it will consolidate Bogota-Region's leadership in the main countries from which it receives investment, including the United States, Spain, Mexico, Chile and China, in addition to awakening interest in new markets for potential business opportunities, such as Asia and the Middle East, Muñoz adds.

In order to continue to position itself as a leader in the region, Invest in Bogota and the Bogota Chamber of Commerce envision great challenges, in line with the new public policy guidelines of the district administration. In particular, their efforts will be directed towards sustainability, the development of science, technology and innovation, as well as strategic infrastructure projects. Another of the commitments will be to contribute to the incorporation of the local productive fabric into global trade and investment chains and to generate actions to improve the business environment. A commitment to new sectors will be fundamental to contribute to the transformation of the city's economy. For this reason, it will be a priority to align with the energy transition promoted by the country, attracting investments in renewable energies, energy efficiency and clean technologies.These investments not only contribute to climate change mitigation, but also to the diversification of the energy matrix and energy security. Likewise, in strengthening the agricultural sector through the incorporation of cutting-edge technologies and consolidating a knowledge-based society, attracting investment in research, development and innovation (R&D&I). This will involve promoting the arrival of R&D&I centers, technology-based companies and projects that foster the transfer of knowledge and the adoption of cutting-edge technologies in different economic sectors.

Likewise, we will work on actions aimed at improving the business environment in order to be increasingly competitive as a territory, including the implementation of the VUI - One-Stop Investment Window, together with the national government, and the science, technology and innovation policy with the district government. Foreign Direct Investment will be a catalyst for economic reactivation, generating quality jobs for the citizens, by means of employment wheels and promoting the formation of highly qualified human capital.The entity's commitment will continue to promote socioeconomic development, competitiveness, internationalization and improve the quality of life in Bogota-Region, positioning the city as the preferred destination for doing business in Latin America.