Cartagena Received Over $200 Million in Investments This Year

The Colombian port city of Cartagena received USD$220 million worth of investment in new projects so far this year, creating at least 3,500 jobs.

Total investment could reach US$230 million by the end of the year, according to María Camila Salas, director of Invest In Cartagena, a local investment agency.

The executive highlighted that 21% of these investments were in sustainable tourism infrastructure, 17% in renewable energy, 13% in technology, 10% in construction and 10% in logistics and agribusiness.

“A whopping 26% of these investments come from the United States and 16% from Europe,” Salas told local news outlet El Heraldo. About 38% of investments are related to project relocation.

Salas explained that the city is committed to developing new industries with great potentials, such as e-commerce and green hydrogen.

With a large harbor and warm climate, Cartagena has long been popular with foreign tourists. Earlier this month, the National Council for Economic and Social Policy (Conpes) approved a private initiative to expand Cartagena’s Rafael Nunez Airport to meet growing passenger demand on the Caribbean coast.

Three months ago, Movistar announced that it would expand its high-speed fiber optic network to cover 54% of Cartagena’s territory and connect nearly 61,000 new homes and businesses.