Colombia Jan-Sept foreign direct investment down 0.9 pct

Reuters

BOGOTA, Oct 15 (Reuters) - Colombia's foreign directinvestment (FDI) fell 0.92 percent in the first nine months of2013 compared with the same period a year earlier due to lowerinflows to oil and mining, central bank data showed on Tuesday.

The decline came despite larger investment in local stocksand debt.

FDI fell to $12.7 billion in the January-September period,down from $12.8 billion a year earlier, the data showed.

In full-year 2012, Colombia's $330 billion economy attracted$16.7 billion in direct investment from overseas, an amount thecentral bank does not see as achievable this year due to lowercommodities prices and a weaker global economy.

Foreign investments destined for the oil and mining sectorsfell 1.1 percent to $10.3 billion in the first three quarters of2013, the bank's data showed. In contrast, investments in sharesand debt doubled to $4.14 billion.

Improved security has made investors more confident about investing in the Andean nation, where a decade-long U.S.-backedoffensive has diminished the ranks of the country's two leftistguerrilla groups, the FARC and the smaller ELN, which have beenfighting the government for five decades.

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