Colombia: J&J chooses Colombia as its Latin America hub
Johnson & Johnson (J&J), top 10 pharma and medical devices giant has chosen Colombia as its hub for Latin America. The company has plans to invest USD20-30 million in this country.
After evaluating multiple countries including Mexico, Brazil, Costa Rica and Peru, J&J decided on Bogota, Colombia. The company plans to open a service center in the second half of 2017 and is expected to create more than 200 direct jobs including finance and human resource.
J&J believes Colombia has the required human talent due to high educational and professional levels in the local market. Bogota is an important strategic center because of its geographical location and one of the cities with high growth. Colombia’s annual growth is higher than Latin America’s average growth making it very attractive for investors. The country also has stable economic and political environment and relations with other countries.
J&J currently employs more than 1,700 local people and has a manufacturing unit in Cali. The company plans to invest in innovation and growth and seeks return on investment in five years.