FDI in Colombia fell 13% on-year in January

Foreign direct investment (FDI) in Colombia fell by 12.7% in January compared to the same month last year, to $631 million, according to provisional figures from the Central Bank, reports Portfolio.com.

The FDI figures failed to rise in line with the general upturn in the world economy.

The oil and mining sectors bucked the trend, however, rising 6.8% to $566 million, which represents almost 90% percent of total FDI.

Separately, the president of ANDI, Luis Carlos Villegas, predicted that foreign investment this year will reach $10 billion dollars, which would be an increase from 2009’s figure, though still below that of 2008.

2009’s gross FDI stood at $8.557 billion, far higher than expected, President Alvaro Uribe announced in January.