Cali Expects 13 New FDI Projects In 2020 Despite Coronavirus

According to projections by Invest Pacific, the investment promotion agency of Cali and the Valle del Cauca department of Colombia, the region should still see the launch of 13 FDI (Foreign Direct Investment) projects by the close of the year, despite the economic disruption caused by the Coronavirus COVID-19 Pandemic. The agency predicts the projects to total $61 million USD and 1,300 new jobs.

“In order to achieve this, we have given priority to sectors such as agriculture – with Hass avocado and medicinal cannabis projects-, fulfillment centers, health, home and personal care; metallurgical, IT & Software, Spanish and English contact centers, and technological services for the health industry,” said Invest Pacific Executive Director Alejandro Ossa Cardenas (above photo).

So far in 2020, four investment projects have been confirmed or established in the region with the support from Invest Pacific: An Israeli investment in avocado exports, a Panamanian technology company established in Cali; the reinvestment of a BPO company from Nicaragua, and a French BPO firm.

“A contraction in foreign direct investment is projected on a global level. That is why, as a regional agency, we are already preparing for this new outlook, in order to be able to position with greater strength our region as an ideal platform for new businesses. Also, working hand in hand with our institutions, the municipalities, the governor’s office, business network and ProColombia in the strengthening of all these capabilities and competitive advantages that allow us to move forward in the midst of this new reality,” said Ossa.

The Cali based investment promotion agency has been active for 9 years, and claims credit forn 119 investment projects generating approximately $1 billion USD in economic activity and contributed to the creation of around 14.000 formal jobs.