Bogota, Bucaramanga and Barranquilla are the worst cities in Colombia to do business in, according to the Minister of Commerce, Industry and Tourism.
Sergio Diaz-Granados said a World Bank report showed that these three cities require the greatest amount of paperwork in order to register new investments. The minister said “In Bogota, for example, it was found that it is necessary to go through over 70 procedures to be able to register a new business.”
In contrast cities such as Manizales, Pereira, and Armenia, all in the Coffee Region, and Valledupar near the Caribbean coast have grown stronger due to the ease with which business can be done.
A survey in 2009 by The Economist ranked Bogota as the worst Latin American capital in which to live due to the threat of violent crime, however the capital has seen a 11% year-on-year drop in crime according to a security perception survey released Thursday.
Colombia’s financial center has also been named as the 4th most expensive city in Latin America.