Foreign direct investment (FDI) in Colombia grew by 15.8% between January and September, compared to the same period last year, reported Reuters on Tuesday.
In the first nine months of 2012, Colombia reportedly received nearly 13 billion in FDI. The recent growth was mostly due to investment in the oil and mining industry.
In early August, Trade Minister Sergio Diaz-Granados attributed the climbing FDI to an “improved investment climate” and successful investment promotion campaigns carried out by tourism and investment promotion agency Proexport.
The government allegedly predicts FDI in Colombia to reach a record high of $17 billion in 2012, up from $13 billion in 2011.
FDI in Colombia grew by more than 500% from 2001 to 2011.
Colombia’s economy, which is the fourth largest in Latin America, experienced a growth of 4.7% in the first half of the year 2012.
