EU Companies Plan More Than 2 Billion Euros in Investment in Colombia Over Four Years

Colombia could receive nearly 2 billion euros in investment from European Union technology companies over the next four years, Vice President José Manuel Restrepo said in Cartagena.

Restrepo made the announcement after meeting 43 executives attending the Andicom technology congress. He valued the planned investment at more than 8 trillion Colombian pesos and said one of the government’s goals was to restore investor confidence.

The vice president described digital economies, knowledge-based services, cybersecurity, connectivity, infrastructure and technology as strategic sectors for Colombia’s future. He linked that agenda to President Abelardo de la Espriella’s “Patria Milagro” project, which aims to position Colombia as a protagonist in the future of humanity by 2050.

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We met with entrepreneurs from this sector, from the European Union. With 43 of them, who made, among others, announcements about investments of nearly 2 billion euros to come. That means somewhat more than 8 trillion pesos over the next four years.

Restrepo said Colombia would first need to unlock the potential of its workforce. He cited the country’s reputation for entrepreneurial talent in Latin America, while calling for stronger skills in artificial intelligence, quantum computing, robotics, biotechnology and the sciences.

He also said Colombia should play a leading role in international discussions on technology, including artificial intelligence and quantum computing. The government emphasized its ambition to establish Colombia as a Latin American reference point for knowledge-based services, artificial intelligence and clean production, supported by employment.

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For Colombia to become a protagonist in this sector, it first needs to unlock the potential we have in human talent, talent that has been recognized as the most entrepreneurial in Latin America, according to the World Economic Forum; but it needs to develop skills and abilities in artificial intelligence, quantum computing, robotics, biotechnology and the sciences.