Barranquilla named third Latin American city for foreign direct investment

fDi Intelligence has ranked Barranquilla third for Latin American and Caribbean cities with the fastest-growing foreign direct investment.

Barranquilla has achieved a milestone by being recognized as one of the 100 cities with the fastest growth in attracting Foreign Direct Investment (FDI) globally. This achievement places the city in the third position in Latin America and the Caribbean, according to the prestigious ranking of the international magazine FDI Intelligence, affiliated with the Financial Times.

The study’s methodology, based on data from FDI Markets, weighted criteria such as the annual growth of investment project numbers, the rate of growth of announced investment, and jobs created by investments. Barranquilla stood out significantly in these aspects, reflecting a notable increase in its attractiveness as an investment destination.

ProBarranquilla

Vicky Osorio, Executive Director of ProBarranquilla, emphasized the significance of this recognition, which reaffirms investors’ confidence in our department.

“Achievements like this are evidence of the synergy between the public-private sector and academia, combined with our competitive advantages such as strategic location, human talent, and business infrastructure, which enhance our value proposition,” said Osorio.

During 2023, ProBarranquilla recorded a historic amount in investment attraction, exceeding the results obtained in 2022 by 130%, with a total investment of USD $602 million, thanks to the establishment of 28 projects that generated 2,234 jobs.

Osorio also emphasized the export profile of most projects attracted in 2023, highlighting the department’s potential as a platform to expand business markets through its logistics and port infrastructure.

Furthermore, Osorio highlighted the importance of sustainability, pointing out significant investments made in the renewable energy and circular economy sectors, aligned with global sustainability trends.

This international recognition consolidates the positioning of Barranquilla and Atlántico as a key destination for Foreign Direct Investment, driving the economic and sustainable development of the region.

For additional information, please read page 32 of fDi’s April/May 2024 issue by clicking HERE.

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