The Colombian government told British investors this week that they can take advantage of “a new economic and security climate” to make rich returns in the Andean nation.
Director of the National Planning Agency (DNP) Hernando José Gómez headed a charm offensive in London in which he presented the government’s recently announced National Development Plan. Gómez explained to Spanish press agency EFE that the drive for greater foreign investment is geared towards a goal of increasing overall levels by 20% in order to meet the government’s target of 6 per cent annual economic growth.
Juan Guillermo Perez, Director of government trade-promoting agency Proexport’s London branch told Colombia Reports that British investment was worth US$600 million in the first half of this year, a slight increase on the same period in 2009. Financial investment, tourism and renewable energy are sectors that are noticeably developing as attractive investment opportunities for British firms.
Mr. Perez added that “it is never easy” boosting interest from British companies as the negative image of Colombia in Britain and the impact of the recession remain serious challenges. The UK remains the second largest source of foreign investment in Colombia after the United States, with oil firm BP and banking group HSBC two well-known names with a Colombian presence.