Medellin is heading towards a path of economical reactivation and recovery through this pandemic. To do so, foreign investment has become a key factor in energizing the economy by receiving 542 million dollars between 2020 and 2021, favoring new job positions and strengthening the local industry’s value chain.
It’s expected that 2.872 jobs are generated, mainly in technology, infrastructure and logistics, life sciences and agri-foods.
This achievement in foreign investment has been met thanks to, among other things, the articulation led by the ACI Medellín with local and national actors, around strategies such as relocating operations, where international companies install their production centers in the city so they can export to other markets, such as the United States.
For the executive director of the ACI Medellin, Eleonora Betancur: “the nearshoring strategy, added to the management of free trade zones, tax incentives and the attraction of anchor companies, have become key factors for the city’s economic reactivation after the effects of the pandemic. From our place and expertise, this is the contribuition we make for Medellín to move forwards and for us all to build the future we desire”.
The companies installed in the territory come from Peru, the United States, Mexico, Spain, Canada, among other countries.
Intertec, an American software and technology development company, arrived in the capital of Antioquia as part of this strategy, in order to serve its clients in other countries, taking advantage of the needs for reorganizing supply chains and the proximity to its headquarters .
The Human Resources manager of Intertec Colombia, María Victoria Morales, pointed out that the company arrived in Medellín “attracted by the human capital, the cost of living and the human quality found in the city, in addition to the nearshoring strategy, as that allows us to serve and seek solutions for our clients abroad, basically in the United States ”.
Additionally, regarding foreign investment, Medellín is working on other strategies such as the declaration of two free trade zones in local territory, one in textiles and the other in software development; a package of tax incentives focused on direct investment and the attraction of anchor companies that help achieve the boosting of the economy and strengthening the Software Valley.
The ACI Medellín seeks to encourage social and environmental impact through the investment attracted to the city, promoting social responsibility programs in education, employment and economic benefits for young people and low-income families through training plans that allow the generation of quality employment in favorable environments for people and the environment.