BOGOTA – Colombian President Ivan Duque urged foreign investors on Monday to take advantage of the business opportunities that the Andean nation has to offer.
Duque made the pitch during the opening of the Colombia Investment Summit, a gathering in Bogota of more than 500 foreign investors interested in new projects or expanding existing ventures.
The president said that Colombia has 22 million hectares (54.4 million acres) suitable for agriculture, of which only 7 million hectares are currently in use.
He pointed to “huge possibilities” in the tourism sector, which is already one of Colombia’s biggest employers.
Duque said that his proposal aims for Colombia to welcome at least 6 million international visitors annually by the end of his 2018-2022 term and lay the basis for boosting that number to more than 10 million.
He also highlighted the potential of the “orange economy,” referring to a broad range of creative industries such as architecture, audiovisual arts, digital services, fashion, graphic and industrial design, handcrafts, music and software.
The orange economy could be “the great driver of youth employment” in Colombia, he said.
Besides opportunities, Colombia can offer investors juridical security and the prospect of steady improvements to infrastructure, Duque said, noting that the new Caribbean port of Turbo is expected to be up and running in 2020.
The two-day conference is organized by ProColombia.