World-renowned names and brands invest in Colombia
Risk rating agencies have approved and recognized the government’s efforts to improve bank service accessibility. The central bank policies have given Colombia the macroeconomic stability to match investor’s needs and show a stable and growing tendency for the Colombian economy.
Colombia is emerging as a key spot to invest attracting international names and brands, such as:
- Goldman Sachs invested USD 407 million in coal mines in Colombia. Source: Portafolio
- General Motors established Zoficol, the Industrial Free Trade Zone of the Colombian Automotive Factory (Zona Franca Industrial de Colmotores) with an investment of more than USD $200 million in response to the FTA with Colombia and to renew its product portfolio, reduce the structure of costs and make competitive vehicles for national and international market. The Free Trade Zone is set to be a new way of making vehicles opening up new possibilities to export to the rest of the Andean Region – also expected to become the cluster for suppliers and auto part retailers for the region. Zoficol is to be inaugurated in the second semester of 2012.
Source: El Tiempo
- Tiffany, Hermes, Louis Vuitton, and Sephora will be opening stores in Colombia as a result of Colombia’s high class purchasing power and expenditure habits. In response to this demand, according to brand specialist, Ricardo Gaitan, high-end brands seek emerging and stable economies ideal for their businesses.
As the third biggest market in the region and as result of Colombia’s large desire for premium products, Tiffany, Hermes, Louis Vuitton, and Sephora analyze the possibility to open their own boutiques in the country’s most exclusive shopping malls and zones.
Source: La Republica