Infrastructure & Construction
With an annual growth of 12%, the infrastructure and construction sector is defined as one of the key sectors within Colombia. Currently, 80,8% of the population live in the urban areas of Bogotá, Medellín, Cali, Barranquilla, and Cartagena. This amount will only increase with today’s rapid urbanisation and economic growth. As a result, urban areas will expand quickly and the government must keep up with the demands of housing and the desire of an integrated infrastructure network. In 2014, the sector already provided around 1.4 million jobs throughout the country.
The Colombian government is the frontrunner in the sector with ambitious plans such as the “Fourth Generation Network”. The goal is to stimulate infrastructure for transport by adding 7000 kilometres of roads within the period of 2016-2020, while reducing the travel time with 30% and decrease transportation costs with 20%. Hence, this will strengthen Colombia’s economic competitiveness by reducing logistics costs. Additionally, investments in the railway network aim at the development of a high-speed rail line and should increase the accessibility of Colombia’s principal waterway, the Magdalena river. Other targets of investments are Bogotá’s airport and various ports throughout the country.
Hence, infrastructure and construction is a fast-growing sector, with important sub-sectors as: highway, airports, ports, railway, and buildings. This provides opportunities for promising investments, as well as economic benefits while doing business in Colombia.