Colombian FDI Grows One Quarter over 2011 Levels

President Juan Manuel Santos announced at a June 7 meeting of bankers in the Caribbean city of Cartagena that foreign direct investment (FDI) to Colombia grew 24 percent this year over last. The Colombian head of state said that FDI “was steadily growing, boosted by, among other things, the investment grade given to [Colombia] by the major ratings agencies.” He went on to say that outside investment in the country reached $13.2 billion dollars in 2011, which, according to Santos, “broke all records for investment, with a 92 percent increase on 2010.”

These high investment levels, coupled with increased capital access due to a reduction in tariffs and the appreciation of the Colombian peso, have “allowed for greater financing in mining, industry, commerce, and services.”

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Sigcolombia reports from Cartagena (ES):