April 18, 2024
English TKP News

Saudi Arabia expresses interest in investing in Colombia

In the first two months of this year, non-mining exports from that country reached US$26.6 million

Sectors such as aeronautics, clean energy, hotels, construction and health, among others, are the ones that arouse Saudi Arabia’s interest in Colombia.

This was evidenced during the Colombia-Saudi Arabia Business Forum and Macro-Round that was held in Bogotá, led by ProColombia, and which was installed by the Colombian Vice-Ministers of Foreign Trade, Luis Felipe Quintero Suárez, and of Energy, Cristián Díaz; also by the Vice Minister of Investments of Saudi Arabia, Badr Albadr, as well as by the president of ProColombia, Carmen Caballero.

During the Forum, in which about 25 companies from that country from the petrochemical, energy, metallurgy, food and beverage, health and infrastructure sectors, among others, participated, Vice Minister Quintero Suárez explained to potential investors the purpose of the Government of President Gustavo Petro, to move towards a knowledge-based, productive and sustainable economy.

The Vice Minister of Foreign Trade stressed that “our productive bets point to agribusiness and food security; to the reindustrialization of the health and defense and life sectors. We want to strengthen the productive structure to have more non-mining goods and services to offer to the internal and external markets and for this reason it is essential to attract sustainable foreign investment, which ensures technology and knowledge transfer, stimulates new value chains, generates qualified employment and opportunities for small and medium-sized enterprises in the regions”.

The Saudi Vice Minister of Investments, for his part, expressed his satisfaction for his stay in Colombia, his interest in investing in the country and for the supply of Colombian agricultural and agribusiness products.

For her part, the president of ProColombia, Carmen Caballero, assured that “we are very pleased to have shared with the delegation of the Invest Saudi Central and South America Roadshow. More than 50 Saudi businessmen learned about the opportunities and investment environment that Colombia offers through sectors and regions, as well as policies in favor of reindustrialization with which the country that seeks to move from an extractive economy to one of knowledge, productive and sustainable”.

In 2022, trade with Saudi Arabia reached US$205.7 million and in the first two months of this year it totaled US$37.5 million, according to figures from Dane.
Source : Mincit

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