ACTIVITY

What's your perspective on "nearshoring"? how will it affect Colombian manufacturing

and trade?
Nearshoring is a mechanism for companies to transfer their business processes or technology
to third parties located in distant destinations to reduce costs. Nearshoring is undoubtedly
becoming the new bet of companies in developed countries, in search of efficiency and low
cost, and this is precisely where Latin America could be strengthened.
Nearshoring will be an upward trend in the coming years and is expected to have a significant
impact on the Colombian economy. Nearshoring is expected to generate more than 100,000
jobs in Colombia in the next five years and the country will become a production center for
multinational companies.
Colombia is preparing for the nearshoring trend with the opening of numerous industrial
parks and free zones throughout the country. The objective is to attract multinational
companies and offer them a favorable environment for the development of their activities.
In addition, the Government has created numerous tax and investment incentives to attract
foreign companies. Trade and investment agreements have also been established with
numerous countries to facilitate the exchange of goods and services.