by Briana Campbell (@MsMatchGirl)
It’s a big day for Colombian business in the US.
The New York Stock Exchange celebrated the first Colombia Day – with executives of NYSE-listed BanColombia and Ecopetrol ringing the Opening Bell at 9:29 AM EST today. Eighteen Colombian companies, including those ringing the bell, were present at the NYSE for the celebration.
Earlier this month, Jim Cramer of CNBC’s Mad Money spoke about the investor-friendly opportunities in Latin America. And about one country in particular. Colombia.
“While everybody’s been focused on the super-hot Brazilian economy to the south, Colombia’s quietly gone and become amazingly investable,” Cramer said, adding that Colombia’s gross domestic product is expected to grow at a 5 percent clip for the next two years.
Colombia is also adding jobs. Its unemployment rate is expected to fall 11 percent this year, where it had been at 12.3 percent in 2009. The country also benefits from great resource wealth, as more than half of the foreign investment that comes into Colombia goes into its oil and mining sectors.
With vast mineral resources (hello, Emeralds!), oil, booming agriculture and an economy and educational system that is only growing, Colombia is poised as the place for investment in Latin America.
Of course, we knew that already.