Investment in Manufacturing
Investment in Colombia: Manufacturing
Manufacturers play a crucial role in this process, due to the manufacturing market potential that Colombia offers:
- Total exports doubled between 2002 and 2007, rising from $12 billion USD to $30 billion USD.
- Since 2010, Free Trade Agreements allow for greater access to preferential markets totaling more than 1.2 billion consumers.
- In comparison with other developed and developing countries, the Colombian labor workforce can be hired at competitive wages.
- Colombia holds tenth place for management credibility and eleventh place for management entrepreneurial spirit.
- Colombia is a leader in reforms to facilitate and support business, according to the World Bank, rising 13 positions during the previous year.
- Siemens S.A.: invested in a high-tech plant where motors, transformers and prosthetic devices will be made. Investment: 46 million USD generating 215 jobs.