Read the Conversation
Conversation highlights:
- Investment Strengths: Carlos Alberto Suárez Reyes outlined Bogotá’s main advantages as a top investment destination: market size, strategic location, and market power.
- Infrastructure Transformation: Major infrastructure projects, including the Metro and airport expansion, are transforming the city, creating new value chains, specialized jobs, and technical capacities.
- Talent and Innovation Ecosystem: Bogotá’s talent pool of over six million people, supported by an integrated ecosystem linking academia, industry, and public-private collaboration, enables rapid adaptation and innovation.
- Global Positioning: Global platforms like Bloomberg Businessweek are leveraged to amplify Bogotá’s investment narrative, attract foreign investment, and build strong public-private partnerships focused on impact.
EF: What mission have you set for yourself now, and what are your current priorities?
CR: Our mission centers on leveraging Bogotá's three transformational advantages to position the city as Latin America's premier investment destination.
First, market power: Bogotá's economy surpasses the GDP of entire nations like Uruguay, Panama, and Costa Rica. With a metropolitan population exceeding 11 million people and purchasing power that represents nearly 30% of Colombia's total GDP, we offer investors immediate access to one of the region's most dynamic consumer markets.
Second, strategic geographical position and connectivity: Bogotá sits at the heart of the Americas, equidistant from major markets in North and South America, enabling companies to reach any major city in the hemisphere within a single business day. This strategic location is amplified by El Dorado International Airport, which has led Latin America in passenger and cargo traffic. It's not just where we are; it's how effectively we connect the entire region.
Third, exceptional human talent: Our workforce of over 6,6 million people represents the most diverse and educated talent pool in the region. This diversity isn't just a demographic feature; it's a competitive advantage that drives innovation, problem-solving, and the cultural intelligence that global companies need to succeed across Latin American markets.
Through targeted collaborations and strategic presentations with global investors, we're building a compelling narrative around this trifecta: economic scale, geographic centrality with world-class infrastructure, and human capital excellence. We're not just promoting Bogotá, we're redefining how the world sees Latin American investment opportunities.
EF: How do you see things when it comes to Bogota? Where do you come from, where do you want to go next, and what do you want to achieve under your leadership?
CR: We already know that Bogota is transforming, not only with the metro as the biggest infrastructure and passenger transport project, but also through the value chains created by these new capacities. Bogota is transforming and moving toward a new phase of development.
This major infrastructure creates and demands new talent, and over the next five years, we need to build different types of labor to sustain it, including maintenance and operations linked to micromobility. There will also be opportunities in security systems, financing, and microfinancing related to transport, along with new services and activities that will keep growing.
In this context, we are also thinking about the role of science, innovation, and technology. We are launching a new science and innovation district, which we hope will become an iconic space to drive these conversations. But in the end, it is not just about the building itself; it is about the conversation.
EF: What do you think makes Bogota a great place to invest?
CR: Right now, we are learning about the kind of quality we are pursuing and offering for tailor-made investors. For instance, our talent is mainly dedicated to technology services, which represent over 50 percent of the talent pool. But we also know that healthcare talent is very important and strong. We have universities, hospitals, and investors that are creating new capacities to prepare for the future of healthcare and health tech services.
In summary, our talent is resilient and able to learn and adapt faster than in many other places. This is because our ecosystem brings together academia, industry, and both the public and private sectors. These connections create the capacity to adapt quickly and implement new knowledge effectively.
EF: What role do you see life sciences playing in your investment strategy for Bogota, and how do you see this evolving in the future?
CR: Today, the focus is resilience, covering continuity of care and sustaining network flow across stakeholders despite timing and cycle challenges. The role will expand into healthtech and preventive services, emphasizing behavior, mental health, and sport-oriented wellness as part of a broader transformation.
It is important to multiply our reach, allowing connection with different types of investors around the world who are seeking new opportunities and markets. The intention is to create a stronger narrative for Bogota and connect with markets that know the city exists but have not yet been effectively reached. Our mission is to keep building momentum and strengthening the ecosystem around life sciences.
EF: Earlier, you mentioned your new strategy as the incoming CEO of Invest in Bogota. Could you elaborate on the new KPIs you have introduced, and what your expectations and goals are for what you want to achieve?
CR: Traditionally, Invest in Bogota has measured investment through project counts and the number of jobs each project creates. While these are important, I am excited about introducing new indicators.
The first one is related to the capacity to create new types of projects, especially with the internationalization of content, like the building of science, innovation, and technology here in Bogota. So we, as Invest in Bogota, will contribute to the internationalization of these projects in the next five years. This type of indicator is more related to impact and creating all the conditions around these three different topics. It goes deeper, not only focusing on transactions or project counts, but on creating conditions for new capacities in the city.
The second one is related to contributing to creating the capacity to internationalize and to create a narrative to attract foreign investment, particularly around the biggest projects like the airport. This involves the district creating changes in mindset around the airport, the complexity of public administration, district administration, and the government. Creating these new capacities and leading these projects will establish the biggest agenda for us.
EF: As you transition from financial management to executive leadership, how has your perspective on investment promotion evolved, and how does this perspective impact Bogota’s success as an FDI recipient in Latin America?
CR: With my background, I am very objective-oriented, but I also have to consider the broader economic perspective, not just for Colombia, but for the Americas as a whole. We face a challenging context, from commercial policies coming from the north to the role our region will play in the coming years.
I want to take on this position wearing both hats, my financial view as CFO and my CEO perspective, and contribute to creating a clear narrative about opportunities. My goal is to build the smartest approach to attracting investment in the sectors we prioritize.
We also have the two projects I mentioned earlier, which I believe can contribute to a bright future. They will not only bring new capacities but also create opportunities for labor specialization and generate new drivers for economic growth.
This context is more about how we can contribute through actions while thinking about the future over the next five to ten years. The agenda for Invest in Bogota is changing. We are no longer only focused on certifying projects that arrive year by year. It is now more about creating possibilities and contributing to the evolution of social and economic value in the city.
EF: Are you excited about technologies and AI in the healthcare industry, or in any other industry that you find promising?
CR: I like to take an overview of all the different sectors in Colombia, especially in Bogota and elsewhere, but yes, we are exploring new trends with investors, particularly in health tech, to create a new type of narrative. These trends are influenced by broader political and sectoral contexts, making it necessary to develop new services. Investors are resilient and creative, arriving with innovative solutions.
Specifically, we see three dimensions in health tech investment in Bogota. The first is related to using platforms, like the airport, to support medical devices, especially lightweight ones that can be transported quickly in flight. This type of new market access in a rapid way is interesting for investors.
The second dimension is related to creating the consolidation of the supply chain. All the pharmacies, pharmaceuticals, and logistics are creating a new type of consolidation here in Bogota, more related to the relation or correlation with the innovation and logistics hub as a regional center.
Last but not least, it is about the different types of projects that pharmaceuticals can invest in. This is a corporate venture, related to new capacities and innovation, with the possibility to create funds around startups that generate solutions for supply chains, as well as complementary services around them.
EF: At the end of the year, what would you like to celebrate? What accomplishments or achievements would make you feel proud of your work at Invest in Bogota?
CR: There are a lot of milestones, but I would like to summarize from two perspectives. The first is about the present. The year is almost done, and I want to use these last three months to build the capacities needed to maintain our objectives and accomplish each of them.
The second is about the future. As CEO, I want to create a new understanding of Bogota’s economic landscape and strengthen a long-term perspective. This includes building capacities to reform the different sectors that contribute to the city, creating social, economic, and political conditions that go beyond the short term. For me, it is important to keep the bridges between the public and private sectors strong, as Invest in Bogota is a public-private agency.
I also want to focus on impact, not just traditional KPIs. Over the next five years, we need to think about new types of projects, like the airport and the campus for science, innovation, and technology. These initiatives are about creating new capacities within the agency, not only to execute projects in the way we have been doing, but also to foster a growth mindset and develop indicators that look beyond one or two years.
EF: Do you have a final message?
CR: I think that we at Invest in Bogota work to ensure the city remains resilient and competitive, ready to meet the demands of global capital and entrepreneurship. The new capacities needed in the coming years are focused on the internationalization of the city, as well as creating new local capacities. The opportunities for global investors are right here in Bogota.
