Thursday, March 30, 2017

Foreign Direct Investment in Colombia up 64% in Sectors Other Than Petroleum, Mining

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The latest report from Banco de la Republica -- Colombia’s national currency and banking regulator -- shows that foreign direct investment (FDI) in Colombian business sectors other than petroleum and mining has jumped 64% this year, to US$2 billion.

 

However, the global crash in oil and industrial metals prices has resulted in a 47% drop in FDI in Colombian petroleum and mining, to US$2.26 billion, down from US$4.8 billion last year.

The report compares the periods covering January 1 through June 10, 2016, versus January 1 through June 12, 2015.

Meanwhile, foreign portfolio investment in Colombia so far this year is about even with last year, at US$1.76 billion, versus $1.78 billion in the same period in 2015, the report shows. That’s a marked improvement over a dip in portfolio FDI spotted earlier this year (see Medellin Herald on April 19, 2016).

Earlier this year, Banco de la Republica co-director Carlos Gustavo Cano pointed out in a speech that while FDI in petroleum and mining has fallen sharply year-on-year, Colombia's industrial output is on the rise and the “tendency is toward recuperation” of national industry -- in large part because of Colombian peso devaluation versus the U.S. dollar. 

Read 883 times Last modified on Last modified on July 05 2016

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Medellin Herald is a locally produced, English-language news and advisory service uniquely focused upon a more-mature audience of visitors, investors, conference and trade-show attendees, property buyers, expats, retirees, volunteers and nature lovers.

U.S. native Roberto Peckham, who founded Medellin Herald in 2015, has been residing in metro Medellin since 2005 and has traveled regularly and extensively throughout Colombia since 1981.

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