Colombian Government Courts Saudi Arabian Investment

Last week the Deputy Minister of Investment for Saudi Arabia, Badr Albadr was in Bogotá, hosted by Colombia’s Vice Minister of Foreign Trade, Luis Felipe Quintero Suárez, and of Energy, Cristián Díaz, and ProColombia’s President Carmen Caballero to discuss bilateral investment opportunities during an investment forum.

In 2022, trade with Saudi Arabia reached US $ 205.7 million and in the first two months of this year it totaled US $ 37.5 million, according to DANE figures.

During the forum, in which about 25 Saudi companies from the petrochemical, energy, metallurgy, food and beverage, health and infrastructure sectors, among others, participated, Vice Minister Quintero Suárez outlined the Petro administration’s goal of moving towards a knowledge, productive and sustainable economy.

The Saudi Deputy Minister of Investment, for his part, expressed his satisfaction with his stay in Colombia, his interest in investing in the country and the offer of Colombian agricultural and agribusiness products.

The president of ProColombia, Carmen Caballero, said that “we are very pleased to have shared with the delegation of the Invest Saudi Central and South America Roadshow. More than 50 Saudi businessmen learned about the opportunities and investment environment that Colombia offers by sectors and regions, as well as the policies in favor of reindustrialization with which the country seeks to move from an extractive economy to one of knowledge, productive and sustainable.