Invest in Bogota, the Colombian capital’s foreign investment promotion agency, has made a visit to Germany and the U.K. with the aim of attracting foreign investors to Bogota from the life sciences sector, which includes the health services, pharmaceutical, cosmetics and medical devices sub-sectors.

Bogota, December 9th 2019. As part of Bogota’s strategy to attract foreign investment in the sectors with the greatest potential for the city, Invest in Bogota was present in Germany and the U.K. to promote all of the investment opportunities that exist in the Colombian capital for business people involved in the health services, pharmaceutical, cosmetics and medical devices sectors.
The organization attended the MEDICA World Forum for Medicine in Dusseldorf, Germany, the world’s most important health sector gathering. The event brought together over 120,000 people from more than 170 countries around the theme of medical technology and the healthcare market.

Invest in Bogota subsequently made a visit to the U.K., where it held meetings with over ten companies including pharmaceutical and medical devices firms, capital funds, diagnostic service providers and multipliers.

This visit is of great importance to the city in view of the fact that, between 2014 and 2018 alone, Bogota-Region received over US$305m in new or expansion investment in the sectors concerned, and more than 1300 jobs were created from the development of these projects. 

As a matter of fact, Germany and the U.K. figure among the countries that invested and carried out projects in Bogota-Region over the period, the former with two projects and over US$55m of investment, and the latter with three projects totaling over US$12m.

“Bogota is one of the largest healthcare markets in Latin America, and in Colombia the sector is expected to see average annual growth of 7.5% between 2018 and 2022. On top of the existing tax incentives, the opportunities for improvement in our services and the abundant qualified human talent available in the city, these reasons make Bogota an outstanding destination for foreign investment in the life sciences sector,” indicated Juan Gabriel Pérez, the executive director of Invest in Bogota.