In the first trimester of 2019, Foreign Direct Investment in Colombia registered its highest growth since 2011

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June 5, 2019

Official Presidential Page

Bogotá, June 4th 2019

The President of the Republic, Ivan Duque, highlighted on Tuesday the growth of Foreign Direct Investment (FDI) in the country, which in the first trimester of 2019 was above 68%, and described it as a sign of optimism and confidence in Colombia.

In this sense, the flow of Foreign Direct Investment between January and March of this year was of US$3.335 million, higher than the US$1.980 million registered in the same period of 2018 and the highest for this period since 2011.

"Today we have received very important news for the country in economic terms. We had a growth of Foreign Direct Investment (FDI) in the country, in the first trimester of the year close to 68%," the President highlighted.

He added that "it is the growth of Foreign Direct Investment in the first quarters, the highest in the last eight years. And this is a message of great confidence in the country.

He also highlighted the good performance of foreign investment in the country's manufacturing sector.

"I want to highlight the growth of Foreign Direct Investment in the manufacturing sector, which exceeded US$500 million. Another important jump compared to the first quarter of 2018," said the president.

According to the Bank of the Republic's Balance of Payments, foreign investment in Oil grew 74.8%, in Mining, 60% and in other sectors, 68.6%.

For Duque, the behavior of FDI in Colombia is a sign of the country's economic reactivation.

"There are clear signs in the Economic Reactivation Law. Why? Because we have lowered the tax burden to make Colombia more competitive against other countries," explained the President, while noting that "in fact the demonstration is also to see how there has been investment in machinery and equipment for this year.

"This shows that it is contributing to a productive transformation and a technological and industrial restructuring," he said.