A recent analysis by the United Nations Conference on Trade and Development (UNCTAD) highlighted Bogotá and its foreign investment promotion agency as a case study in the development of projects backed with foreign capital to achieve the Sustainable Development Goals. The case study focused on the remodeling of the old El Campín Covered Coliseum, now known as the Movistar Arena. UNCTAD highlighted the fact that the remodeling project, executed through a Public-Private Partnership, is expected to create over 400 skilled jobs.
“The arena has special access and services for people with disabilities, such as dedicated entrances, ramps, and lifts for wheelchairs.” The remodeling resulted in four five-on-five soccer fields, a jogging track, a skateboarding park, and a cycling path, as well as a children’s playground and an area for art exhibitions. According to the document, “the new arena, which has 4.5G Long-Term Evolution (LTE) mobile network technology, is the most modern concert and event venue in Latin America.”
The UNCTAD document also drew attention to the fact that Invest in Bogota, the capital’s investment promotion agency, coordinated the institutional and commercial agendas of the public and private entities involved in creative industries, entertainment, and infrastructure, which facilitated the partnerships necessary to develop the project.