Some of Colombia’s largest companies will be representing and promoting the Colombian market in New York and London, two of the world’s financial market capitals, from June 3 to 7.
Organized by the Colombian stock exchange, the initiative known as Colombia Inside Out aims to attract foreign investment, promote the Colombian market internationally, and showcase the strengths of the country’s economy.
“This time there will be representatives from 20 of the companies most important to the [Colombian] market, among which will be Banco de Bogota, Bancolombia, BVC, Canacol, Celsia, Cementos Argos, Cemex Latam Holdings and Davivienda,” event organizers told Portafolio. Executives from corporate giants such as Ecopetrol, Pacific Ruibiales and Petrominerales will also be present for the event and will meet with approximately 400 representatives of investment funds from around the world.
Colombia’s President Juan Manuel Santos, together with Finance Minister Mauricio Cardenas, the vice mining minister and the minister for transport will also reportedly be present, in order to highlight the changes to the regulatory framework the government has made to facilitate the influx of foreign capital into the country.
“Latin America has become an investment recipient of global standards. Important things are happening in Latin America,” President Santos recently claimed.
The president of Colombia’s stock exchange, Juan Pablo Cordoba, said that between 2011 and 2013, foreign ownership of stocks in Colombia had increased from 7% to 20%. Despite these statistics, Cordoba said that the country’s stock exchange experienced a “bad first quarter [in 2013], mainly due to low oil prices, which affected the shares of companies in the sector.” Cordoba hopes that the Inside Out initiative, which is in its second year, will help to put the stock market back on track.