PR99234

BOGOTA, Colombia, Dec. 16, 2022 /PRNewswire=KYODO JBN/ --

-- Located in South America, Colombia offers great business opportunities, and

with more than 11 million inhabitants, Bogota, its capital city owes a

strategic location, highly skilled, talented, and competitive workforce.

-- Asian companies are very interested in Bogota-Region, especially for the

development of professional services outsourcing projects.

-- In the last decade, Bogota-region has received 115 new and expansion FDI

projects from Asia Pacific, valued at USD 1,313 million.

Representatives of Invest in Bogota, the Bogota investment attraction agency

are carrying out a promotion agenda in the Philippines, with the aim of

promoting the city among BPO companies with expansion interests in Latin

America for their nearshore operations in English and Spanish.

During its foray into the Asian country, the promotional team has held meetings

with key stakeholders, evaluated the roadmap of the BPO sector there, and

learned about the challenges and needs that companies in that country have for

their development. Isabella Munoz, executive director of Invest in Bogota,

indicates that "the experience of the Philippines provides us with relevant

insights as a country and as a promotion agency, to identify where we want (and

should) go in our exercise of intelligent specialization."

"Bogota-Region is clear about its opportunity to strengthen business with Asia.

In the last decade, it has received from Asia Pacific 115 new and expansion

foreign direct investment projects, valued at USD 1,313 million and which have

generated more than 8,300 jobs. These represent 8.7% of the total projects that

have been carried out in the Bogota-Region", adds Munoz.

The availability, quality and cost of labor, advances in terms of bilingualism

and the strategic location have contributed to investors perceiving the region

as an ideal destination for their service activities.

Investments from Asia Pacific  

The city region concentrates 66.1% of the investment projects that Colombia has

received from Asia Pacific. The corporate services sector was one with the

largest number of Asia Pacific projects carried out in the Bogota Region,

concentrating 13.9%. It is a sector with great capacity to generate employment,

it concentrated 24.1% of the jobs generated by FDI from this eastern region.  

Apart from corporate services, other relevant sectors in attracting FDI from

Asia Pacific are pharmaceuticals (12.2%), consumer products (11.3%),

communications (9.6%), software and IT services (9, 6%), automotive (7.8%),

financial services (6.1%) and others (29.6%).

China is the main Asian investor in the Bogota-Region, with 32.2% of the

projects. Japan (20.9%), India (16.5%), Australia (11.3%) and Korea (10.4%)

also stand out.

Investments in BPO

Colombia and, above all, Bogota are important players in the global BPO

industry. The country is the first destination in the region for the

development of BPO operations according to the Offshore BPO Confidence Index

2021, and the third BPO market in Latin America (13th worldwide) according to

the Global Services Location Index 2021 report.

During the last five years, the sector in Colombia achieved an average annual

growth of 16%, standing out as the fastest growing in the region. The

attributes that Bogota has for the provision of professional services make it

the main BPO and KPO cluster in Colombia, with 67% of the country's income, 70%

of operations and 69% of employment generated by this industry.

SOURCE  Invest In Bogota

CONTACT:  Lorena Rodriguez, Marketing and Communications Officer, E-mail:

lrodriguez@investinbogota.org