Newsletter 46 – Valle del Cauca continues attracting foreign investment in 2023
• Learn about the companies that have recently announced their arrival to this Colombian region, and those confirming their plans for expansion.
Foreign direct investment in Valle del Cauca continues adding positive figures for the region. By the end of the first quarter of 2023, eight companies have already confirmed their projects for investment and expansion in this region of the Colombian pacific, through the work led by Invest Pacific, with the support of the Governor’s Office of Valle del Cauca, and other agencies from both public and private sectors.
These investments are focused on pharmaceutical operations for personal care and household cleaning chemicals, construction materials, processed foods, software development, and BPO operations. Altogether they will be generating more than $382 Million US dollars of investment flow, and 575 new formal jobs in the region.
Some of the new investments to highlight are Eurofarma (Brazil), Sika (Switzerland) and Sophos Solutions (India); as well as reinvestments from Kimberly Clark (USA), Ingredion (USA), Essity (Sweden), Pinturas Algreco (Puerto Rico) and the expansion of a confidential company from USA. These investments will cause a direct impact on Cali, Palmira, Yumbo, and Puerto Tejada.
“These figures are very positive, amidst the global challenges and conversations about the various issues of importance for the country, thus reinforcing a landscape of confidence in investing, with outstanding institutional leverage to favor business environment and partnership to companies. All of this is possible thanks to the synergy between Invest Pacific and the public, private and academic sectors of the region”, explains Mauricio Concha, Executive Director in Charge of Invest Pacific.
For the last four years (2020 and so far in 2023) there are 67 investment projects generated in Valle del Cauca and some areas North of Cauca, with the partnership of Invest Pacific, reaching nearly $1,179 Billion US dollars in amount of investment, and 7,434 direct jobs in 24 townships of the geographic valley of Cauca River.
All these companies invest in Valle del Cauca to take advantage of the opportunities offered by the region pertaining qualified human talent availability, strategic location and connectivity, a large an varied business ecosystem, as well as the double purpose they find here to serve both domestic and international markets, in a cost efficient way.
It is important to mention that presently, there are more than 200 foreign capital companies operating in Valle del Cauca, that have come from many countries of America, Europe, and Asia, so relevant for the economy, that they are responsible for more than 40% of the region’s exports, 20% the regional GDP, and 5% the formal employment of Valle del Cauca.