If the importance of free trade zones in Colombia , the region, and the world could be summarized in one word, it would be growth, as many sectors benefit from the existence of these special territories. There are significant gains for businesses, the environment, science, technology, the investment sector, and thousands of families from low and middle socioeconomic strata. Today, join us to learn about the impact that free trade zones have on our country.
Impact of Free Trade Zones in Colombia
Since their inception, free trade zones in Colombia have been characterized as important development hubs for different sectors of society. They not only focus on job creation but also bring visibility to previously overlooked territories. Therefore, in addition to companies, the territories themselves benefit from the existence of free trade zones in the country.
Other aspects that greatly benefit from the work carried out in special territories by the free trade zones and the companies that establish themselves there include:
Employment generation
Undoubtedly, this is a vital aspect that addresses the impact of free trade zones in Colombia . All the production carried out within companies located in free trade zones requires a large workforce to meet demand, and it is at this point that job creation begins in the surrounding municipalities where the free trade zones are established.
The most important thing here is that jobs are not only offered to professionals or those with postgraduate studies, but also to those with lower levels of education, such as technicians, technologists, and even high school graduates, since some operational roles do not require a higher education degree.
Likewise, for those workers with the lowest level of educational preparation, free trade zones often offer flexible hours, among other benefits, so that their employees can improve themselves and achieve a more complete education that gives them the possibility of improving their lives.
The stable and long-term employment provided by free trade zones in Colombia also offers workers the opportunity to acquire goods that improve their quality of life, such as homeownership, transportation, and other necessities. Indeed, free trade zones are a fundamental tool for maintaining the economic stability of employees.
Statistically speaking, thanks to the existence of free trade zones in Colombia, more than 147.000 jobs have been generated , and this is a figure that tends to increase over time, taking into account the growing importance of free trade zones in our country.
In the case of Zona Franca de Occidente , we are currently fortunate to employ a total of 13.052 people directly and indirectly , and we have the goal of reaching 73.000 jobs in 10 years.
Foreign Investment
Foreign investment is another important aspect of free trade zones in Colombia, as it stimulates the economy. Investments have exceeded 47.5 trillion pesos , and like job creation, this figure is expected to rise over time due to increased production from companies located in the free trade zones. Furthermore, investments in science, technology, and innovation have surpassed significant levels, exceeding 11.000 billion pesos.
A situation worth mentioning at this point is that thanks to the foreign currency that the large amount of foreign purchases leave in our country, it is mitigated precisely by all the money involved in foreign investment in projects of any kind.
Colombia is one of the top 30 business destinations according to UNCTAD and the third country in Latin America receiving the most foreign capital and projects. The existence of free trade zones in Colombia, along with other external initiatives the country has implemented, is precisely what has allowed us to currently enjoy these advantages over other territories in the region.
That's why foreign investment is so important, not only for free trade zones but also for strengthening our country's economy. At Zona Franca de Occidente, we also have foreign investors who contribute to all these figures mentioned, and from our park, we are also working tirelessly for Colombia's economic growth.
Sustainability
Environmental protection is one of the cornerstones of free trade zones in Colombia . All of them are committed to working on various environmental initiatives that mitigate the impact of all industrial production within the zones on the environment.
The commitment to green production, clean energy, sustainable construction, the circular economy, reforestation projects, and programs with communities of influence are just some of the initiatives being developed in our country's free trade zones to minimize environmental damage.
At Zona Franca de Occidente, we are also committed to caring for our environment, and that is why we have strategically designed projects so that we can take care of nature responsibly.
One of these is our rainwater harvesting system, which allows us to collect 28.000 m³ of rainwater for distribution around the park. We also have a domestic wastewater treatment plant, among other environmental initiatives that positively impact our surroundings.
Furthermore, we are one of only two free trade zones in Colombia participating in the Eco-Industrial Parks program , led by UNIDO. We were also recognized by this same organization for promoting resource efficiency and cleaner production. As an Eco-Industrial Park committed to environmental stewardship, we are constantly developing new projects to further enhance our environmental footprint, benefiting not only the companies that locate in our park but also the natural environment.
Support for MSMEs
MSMEs are micro, small, and medium-sized enterprises founded by entrepreneurs who seek economic stability and, consequently, the capacity to provide formal employment to more people who need it.
These types of companies are essential in the country, as they counteract social problems such as informal employment and unemployment. They also contribute significantly to the economy and internationalization, representing 10% of Colombia's current annual exports.
These companies have the capacity to generate more than 17 million jobs and are constantly evolving, as someone who owns a microenterprise generally wants to become a small business, and so on, until they expand their size and productivity as much as possible.
Free trade zones in Colombia have opened their doors not only to large foreign companies, but also to micro, small, and medium-sized enterprises (MSMEs) from various sectors, which are generating more and more formal jobs for Colombians from all social classes. This underscores the significant impact free trade zones have on the industrialization of our country.
At Zona Franca de Occidente, we are also contributing to Colombia's growth. We encourage foreign investment in various sectors, maintain competitive employment rates, and, of course, work daily to protect our environment while providing excellent service to all our clients. Contact us! Discover how you can become part of this great family and invest in a highly profitable business for you and your company.