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17 Apr 2019, Radoslav Yordanov, EMIS Editor

FDI in Colombia soars 23.3% y/y in Q1

Foreign Direct Investment (FDI) in Colombia jumped 23.3% year-on-year to USD 2.255bn during the first quarter of 2019, EFE news agency reported citing figures released by the Ministry of Commerce, Industry and Tourism (MinCIT).

This increase was underpinned by reduced income tax, VAT rebates on fixed assets as well as by improved frameworks for foreign holding firms, the minister of MinCIT, Jose Manuel Restrepo, said.

The official underlined that the oil and mining sectors attracted 82.5% (USD 1.861, 5bn) of the total investments, while construction, energy, commerce, manufacturing and tourism sectors received the rest 17.5% (USD 394.3mn).

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