Colombia is to welcome eight new foreign companies, including fast food chain Chuck E. Cheese and Spanish beauty care company Biothecare Estetika, according to the investment company Invest in Bogota.
Although none of the companies have expressly confirmed their expansion in Colombia, a report created by City Hall and the Chamber of Commerce in Bogota to promote local investment, has assured that the companies wish to expand into Colombia through the capital.
Brazilian food giant Harald, which currently covers 60 percent of the Brazilian market, along with investment banking firm FalconView Capital Partners and Chilean fuel company Lipigas, are other notable additions to the Colombian economy.
According to experts, the sustained growth of the national economy and business opportunities in the capital are the main incentives for businesses intending to establish themselves in the local market.
Last year 37 international companies expanded into Colombia, primarily in the service industry. Adriana Suarez, Executive Director of Invest in Bogota, said that “in the short term we will see an important dynamic in the area of outsourcing and the tertiary sector.”