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Globe and Mail
7 days ago
- Business
- Globe and Mail
Bogotá connects with the tech world: Invest in Bogota will participate in the Web Summit Vancouver 2025
BOGOTÁ, Colombia, May 28, 2025 (GLOBE NEWSWIRE) -- Invest in Bogota and the Bogota Chamber of Commerce will participate in the Web Summit, one of the most important technology meetings worldwide, which will take place from May 27 to 30 in Vancouver Canada. This assistance is part of the agency's commitment to position Bogota and Colombia as strategic destinations for investment in technology and knowledge-based services. With more than 15,000 attendees from more than 130 countries, the Web Summit is a global platform to discuss the main challenges and opportunities of the sector, including key topics such as artificial intelligence, sustainability and digital transformation. The event will also be attended by the Information Technology and Knowledge Economy Cluster of the Bogotá Chamber of Commerce, under the leadership of its director Andrés Carbo Abello. The representation of Invest in Bogota will be in charge of Carolina Tamayo Hackmayer, Senior Investment Officer. In addition, the Science, Technology and Innovation Campus project will also be socialized, a strategic initiative that seeks to consolidate a high-impact environment for companies, universities and research centers, promoting the generation of knowledge, digital transformation and the development of innovative solutions with global reach. 61% of Bogota's GDP in 2023 came from the service sector, the main engine of its economy. Bogota recorded an average economic growth of 3.5% in the last five years, above the national (2.9%) and Latin American (1.4%) averages. The United States accounts for 27% of Colombia's IT services export destination, followed by Brazil (7%) and Mexico (7%). Bogota has three of the top 20 universities in Latin America. The city has the highest bilingual population in the region, with more than 2.1 million people. Colombia has graduated more than one million professionals in STEM careers in the last five years; 31% of them are in Bogotá. Bogota concentrates more than 63% of employment, 60% of revenues and 47% of companies in the IT sector in Colombia. Colombian talent is up to 20% more cost-efficient than Mexican talent in IT services. Invest in Bogota is a public-private partnership between the Bogota Chamber of Commerce and the Capital District, and its purpose is to facilitate international investment, attract world-class meetings and events and articulate the high-impact entrepreneurship ecosystem to contribute to the socioeconomic development, competitiveness and quality of life of the Bogota-Region.
Zawya
09-05-2025
- Business
- Zawya
African Energy Week (AEW) 2025, Spanish Chamber of Commerce in South Africa Join Forces to Foster Energy Partnerships
The Spanish Chamber of Commerce in South Africa has partnered with the African Energy Week (AEW): Invest in African Energies conference to foster collaboration between Spanish and South African energy companies. The partnership builds on dual goals of driving investment and development in South Africa and will support greater participation by Spanish firms at this year's edition of the conference – scheduled for September 29 to October 3. As a non-profit entity whose main objective is the promotion of commercial, economic and industrial relations between Spain and South Africa, the Chamber of Commerce seeks to strengthen business prosperity and trade between the two nations. At the heart of this strategy is the energy industry, with the Chamber committing to exposing its members to emerging opportunities in both Spain and South Africa. At AEW: Invest in African Energies, the Chamber will play an instrumental part in strengthening energy relations and trade, supporting market entry by Spanish firms into South Africa. AEW: Invest in African Energies is the platform of choice for project operators, financiers, technology providers and government, and has emerged as the official place to sign deals in African energy. Visit for more information about this exciting event. The opportunities for heightened collaboration between Spain and South Africa are extensive. While Spain is a net-importer of oil and gas, Spanish oil and gas firms have seen great success abroad, highlighting the level of expertise the country has to offer. Spanish companies such as multinational energy and petrochemical firm Repsol already have a strong presence in Africa, offering significant expertise that could help unlock South Africa's energy industry. The company has been active in Algeria since 1973, recently receiving approval to invest up to €731 million in oil and gas blocks in the country. The Chamber has also been active in Libya since the 1970s and is implementing an ambitious exploration agenda in the country. It plans to drill nine wells consecutively via two drilling rigs by November 2025, and aims to increase production to 350,000 barrels per day (bpd) in the country. As of December 2024, production stood at 300,000 bpd. Meanwhile, for South Africa, which is only just starting to realize the full potential of its oil and gas market, Spanish partnerships could propel a hydrocarbon evolution. Despite being a frontier market, South Africa has proven oil and gas discoveries and significant upside potential. The Luiperd and Brulpadda discoveries, for example, are the largest discoveries of natural gas resources in South Africa to date. Situated in the Outeniqua Basin, operator Africa Oil Corp plans to conduct surveys within the Block 11B/12B area to determine a development plan. Additionally, South Africa's Orange Basin – shared with Namibia where several high-impact finds have been made – offers strategic opportunities for billion-barrel finds. International companies have recently expanded their footprint in the basin, led by firms such as Eco Atlantic, TotalEnergies and QatarEnergy. In the green energy sector, Spain is spearheading Europe's energy transition through rapid developments in green hydrogen. According to the World Economic Forum, the country already accounts for 20% of green hydrogen projects announced in the European Union, with plans to create industrial clusters expected to bolster the bloc's clean energy adoption. South Africa is also targeting ambitious green hydrogen projects. The government introduced a R300 billion investment pipeline in 2023, targeting between 6 and 13 million tons of green hydrogen and derivatives production per annum by 2050. Up to 19 projects were identified for accelerated development and global support will be key to bring these projects into fruition. In 2023, Spain committed $2.3 billion to help fund South Africa's energy transition, but further support could unlock greater value from the country's renewable energy industry. 'Global partnerships are fundamental for countries seeking to rapidly grow their oil, gas and renewable energy industries. Spain and South Africa have significant potential to expand their trade, energy and business ties, and the Spanish Chamber of Commerce in South Africa works hard to achieve mutual development goals,' states Tomás Gerbasio, VP Commercial and Strategic Engagement, African Energy Chamber. Distributed by APO Group on behalf of African Energy Chamber.
