BOGOTA, 1 September 2020 – Guide for Investors: Colombian Automotive Industry has been published by ProColombia, the Colombian government’s agency charged with promoting domestic and foreign investments and exports, and the United Nations Industrial Development Organization (UNIDO).
The Guide for Investors provides an analysis of Colombia’s industrial capacity for manufacturing vehicles and auto parts, the institutional support capabilities supporting the sector and the dynamics of local demand, as well as the sector’s export potential. The publication highlights the commercial potential of investment project opportunities and illustrates the various investment regimes that investors can take advantage of. Finally, it presents the state of Colombia’s infrastructure for the facilitation of the sector’s exports.
The Colombian automotive industry represents 6.2% of the country’s industrial GDP and generates more than 25,000 direct jobs, in addition to more than 100,000 indirect jobs. The industry is regarded as an essential sector for the achievement of the Government’s goals for economic growth.
“In the work carried out with the Ministry of Commerce, Industry and Tourism, we are accompanying all the actors in the automotive sector in improving their productivity and strengthening their exports. We are working to attract important multinational companies that have the potential to operate, assemble and distribute from our territory to the region. This sector is key in the economic reactivation and competitiveness of the country,” stated Flavia Santoro, President of ProColombia.
Cristiano Pasini, UNIDO’s Representative in Colombia, said, “In our efforts to support ProColombia in attracting foreign investments to the automotive sector in Colombia, it became clear that there was an information gap. Thanks to this guide, potential investors have the answers to the most common questions they may have about Colombia’s automotive industry, which saves their time and allows all parties to focus on business negotiations.” During the publication launch, UNIDO and ProColombia jointly conducted webinars to present the Guide for Investors to the Colombian private sector and management of industrial parks and free economic zones, as well as to regional investment promotion agencies.
The Guide for Investors will become part of the toolkit to be used in future missions and campaigns to be conducted by ProColombia and other investment promotion stakeholders. It will be promoted by the international offices of ProColombia as well as by UNIDO’s Investment and Technology Promotion Network. The Guide is also expected to facilitate the discussions of specific investment opportunities in the context of the forthcoming National Investment Summit to be hosted by ProColombia from 7-9 October 2020.
The publication was developed within the context of the “Program for Sustainable and Inclusive Industrial Development of the Automotive Supply Chain through Quality and Productivity Improvement ( PRO-Motion)” - a collaboration between the Korea International Cooperation Agency (KOICA), UNIDO, the Ministry of Commerce, Industry and Tourism (MINCIT) and the Colombia Productiva initiative.
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The Guide for Investors: Colombian Automotive Industry can be downloaded here.