The city seeks to strengthen the relationship with the Asian country through potential areas for the articulation of important projects that favor both territories
The Colombian ambassador to the People’s Republic of China, Luis Diego Monsalve Hoyos, visited the city during the first week of January, where he attended a meeting with representatives of the ACI Medellín, with the aim of identifying areas and opportunities for cooperation and investment projects; these representatives of the ACI Medellin also accompanied him to present a joint work plan to the mayor of Medellín, Daniel Quintero.
Said plan focuses on the development of initiatives from the city’s the Bank of Projects, for which international investment and new technology projects applied to public and private transport, the efficient use of natural resources and the use of alternative energies are sought, as well as civil protection, socio-economic affairs, public space and commerce. The capital of Antioquia is focused on becoming the Software Valley, making the city an attractive region for digital innovation businesses that keep us on the radar of the so-called Smart Cities. For its part, China has cities that are highly developed in these practices such as Shanghai, Beijing, Guangzhou, Xi’an, Yinchuan, Hangzhou and Chongqing.
Another axis of bilateral cooperation work will be academic exchanges of teachers and students between China and Medellín, focused on teaching Mandarin and Spanish. Likewise, to raise the performance of local talent, scholarships will be managed to study higher education in China for teachers and students. And in terms of good practices, it is expected that the high experience in higher education centers and parks in the Asian country can be applied to the city’s North and West University Citadels.
Eleonora Betancur, director of the ACI Medellín, mentioned that the entity, in its internationalization task for the city, made agreements with the Embassy of Colombia in China to program a Virtual Coffee Meeting with the Ambassador and the ProColombia Office in China to disseminate and socialize investment opportunities among entrepreneurs in that country, a strategy that will serve to socialize city projects in the mature stage and projects that are prior to starting tenders such as the 80th Avenue Metro. Other activities are also planned to favor the opening of new businesses and opportunities for investment for the renewable energy sector through EPM, as well as the relationship with Paisas in China to strengthen Cerebros Fugado’s attraction strategy, which is being worked on through the Sos Paisa program, and also seeks to promote the exchange of knowledge with Paisas in China that contribute to city programs and projects.
In terms of investment, Colombia ranks ninth among developing countries that receive FDI, and is also ranked 23rd in receiving FDI worldwide. Medellín represents 7.4% of the National GDP and is one of the cities with the greatest national and international projection, which, with the support of ProColombia and the National Government, continues to focus on the potential it has to attract foreign direct investment.
In the last 10 years, Chinese investments in the city have reached a total amount of USD 182 million and estimated the generation of 465 jobs from 8 investment projects. They represent USD 26 million annually, with the infrastructure and logistics sector standing out with 99.7% of investments, specifically in infrastructure and air connectivity, followed by the commerce sector with 0.3% with the opening of commercial showcases for electric and conventional vehicles.
In addition to the potential in infrastructure, which for now is focused on the 80th Avenue Metro project, there is also a high interest in seeking investment in technology, which thanks to the Software Valley strategy that is implemented in partnership with Ruta N, the Center for the Fourth Industrial Revolution, ProColombia and ACI Medellín, it is expected to attract Chinese companies so that Medellín is the center of operations for Latin America and North America.