Economy

FDI in Colombia reaches $9.2B in 8 months

posted by Toni Peters

Colombia News - Sergio Diaz Granados

Foreign direct investment in Colombia reached $9.12 billion between January and August 2011, announced the Trade, Industry and Tourism Ministry.

In a press release the ministry said this figure is 59.6% higher than the same period last year and that 84.5% of foreign direct investment or $7.075 billion corresponds to the petroleum, hydrocarbons and mining sector, up 54.9% last year.

The Colombian government estimates that by the end of 2011 will reach $9.7 billion. The government aims to consolidate the good performance of FDI with pending investment protection accords. Colombia already has such accords with Peru, Spain and Switzerland.  Investment protection is also incorporated in the free trade agreements with Mexico, Chile, Canada, Honduras, El Salvador and Guatemala.

Furthermore Colombia has three pending free trade agreements with the United Kingdom, India and China which are subject to judicial scrutiny by the Constitutional Court.

 

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