In the past two years, Swedish companies have shown a growing interest in Colombia as an investment destination. About 100 Swedish companies have established a presence in the country across various sectors ranging from fashion to vehicles. Notably, these companies have invested a total of $1.7 billion, approximately 10% of the foreign direct investment received by Colombia in that period, as reported by Forbes.
Among the Swedish companies present in Colombia are well-known brands such as Electrolux, TetraPak, H&M, Grupo Familia (owned by Essity), Astrazeneca, Volvo, and Ikea, among others. These companies have generated over 25,000 direct jobs in strategic sectors such as mining, infrastructure, mobility, defense, security, mass consumption, health, consulting, and telecommunications.
Colombia’s strategic location in the North and South American markets has been one of the determining factors for Swedish companies to see the country as an attractive destination for their global expansion. Helena Storm, the Swedish ambassador to Colombia, highlights the importance of the nearly 150-year relationship between both countries and how it has contributed to significant economic growth and valuable cultural exchange.
The trade exchange between Sweden and Colombia has also experienced a notable increase. In 2021, Swedish exports reached around €120 million, while imports from Colombia amounted to approximately €44 million. These figures increased by 53% for exports and 141% for imports by September 2022. This growth further reinforces the commercial relationship between both countries.
The investment and presence of Swedish companies in Colombia are a clear testament to the country’s potential and attractiveness as a business destination. They also demonstrate confidence in the Colombian economy and its growth potential. The collaboration between Sweden and Colombia will continue to strengthen in the coming years, driving economic development and generating opportunities for both Swedish companies and the South American country.
