The Diplomat
The Director General of CEOE International, Narciso Casado, spoke yesterday at the opening of the virtual forum: “Why invest in Medellin and the Metropolitan Area?”, organised by the Spanish employers’ association and the Agency for Cooperation and Investment of Medellin and the Metropolitan Area, in collaboration with the office of ProColombia Spain.
Narciso Casado was joined at the opening session by the director of ACI Medellín, Jonathan Ballesteros; the investment promotion manager for Europe at ProColombia, Gonzalo Vargas; the director of the Metropolitan Area of the Aburrá Valley, Juan David Palacio; and the economic and commercial advisor for Spain in Colombia, Manuel Valle.
During the event, the potential of this region of Colombia and the main projects that make Medellín a competitive scenario for business were presented. Attendees had the opportunity to learn first-hand about the tax incentives offered in local taxes, the special tax regulations and the benefits offered by the city as a Special District of Science, Technology and Innovation.
In addition, two success stories of Spanish companies established in Medellín were presented, who shared their experience, motivation and projections there. The event was multi-sectorial, prioritising the sectors of infrastructure and logistics, life sciences (health, biotechnology…), manufacturing, agribusiness and industry 4.0; and placing special emphasis on the technology, health and infrastructure sector.
Narciso Casado assured that the alliance with Colombia is a great example of public-private collaboration, of good relations and of the commitment of all agents to contribute to the best economic and social development of the countries.
After assessing the potential of Colombia and, specifically Medellín, he pointed out that, in 2021, Spain was the second largest foreign investor in the country, after the United States, with 16.5% of total investment, and the leading European investor in Colombia, with 29% of the total investment received from Europe. To this, he recalled, must be added the more than 700 Spanish companies established in Colombia, which generate more than 50,000 direct jobs, according to the Central Bank of Colombia.
Casado highlighted the evolution and progress of the city of Medellín, which has gone from being known as the industrial capital of Colombia in the 20th century to positioning itself as a regional and global benchmark for innovation in recent years. Its transformation into an international investment hub has attracted Spanish companies in the life sciences, technology, agriculture, infrastructure and Industry 4.0 sectors, among others. “A situation that has meant that, between 2009 and 2020, Spanish companies in the metropolitan area of Medellín have invested a total of 213 million dollars,” Casado stressed.
