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Why Invest in Colombia?

ATTRACTIVE BUSINESS ENVIRONMENT

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  • The Colombian economy has grown on average by 3.8% in the past seven years (2010-2017). In 2017, the country's economy grew 1.8%, more than the average growth for Latin America and the Caribbean (1.3%).
  • During the last decades, Colombia has been characterized by its political stability and firm respect for private ownership and initiative.
  • The GDP per capita (PPP) in Colombia has doubled in the last 15 years, going from USD 6,603 in 2000 to USD 14,485 in 2017. (IMF)
  • Colombia is among the 30 most populated countries in the world (49.3 million inhabitants in 2017) and the second among Spanish-speaking countries.
  • Colombia (59th) is the fourth most business-friendly destination in Latin America according to Doing Business 2018.
  • The country's middle class increased, becoming approximately 30% of the Colombian population in 2016. It is expected that the Colombian middle class would represent 37% of the population in 2020 and 46% in 2025.

A RELIABLE PARTNER

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  • Colombia was awarded the investment grade rating by the top three risk-assessment firms in the world (S&P, Fitch, and Moody's). In March 2017, Fitch Ratings improve the outlook for the Colombian rating: it went from negative to stable.
  • Colombia is a member of the OECD.
  • Colombia positioned itself as the fourth friendliest destination in Latin America to do business according to Doing Business 2018.

AN ACTIVE ECONOMY IN THE GLOBAL MARKET

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  • Colombia has more than 16 trade agreements in force, enabling preferential access to more than 60 countries and nearly 1,500 million consumers across markets including the United States, the European Union, Brazil, Mexico, Chile, Peru, Costa Rica and South Korea; with new markets to be added soon, like Israel and Panama, with which Colombia has signed agreements. Additionally, Colombia is negotiating a Free Trade Agreement with Japan and an associate state figure through the Pacific Alliance with Canada, Australia, Singapore and New Zealand.
  • During the last decade, Colombia strengthened the preferential access to a 1,500 million consumer market.

INTERCONECTED WITH THE WORLD

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  • Technology infrastructure supported by five underwater cables and a national fiber-optic ring that connects 300 municipalities in the country.
  • Easy access to global markets thanks to its privileged geographical location and developed logistics infrastructure.

SKILLED LABOUR

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  • First in the Legal rights index (Worldwide) Global competitiveness Index, 2017-2018.
  • First in the strength of investor protection Index (LAC region Global competitiveness Index 2017-2018.

A COUNTRY STRIVING FOR INNOVATION

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  • Colombia is betting on innovation as a cross-cutting component for the transformation of products and services that generate added value and skilled employment.
  • Government entities are focusing their efforts on creating new sources of growth through the development of non-traditional sectors such as the creative industries, tourism, textiles, handicrafts, and design.

COMPETITIVE LEGAL FRAMEWORK

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  • In Latin America, Colombia is the country with the most reforms to improve its negotiating environment. Since 2006, the country has implemented 34 reforms. (Doing Business 2018, World Bank)
  • The government is committed to providing incentives for investment and stability for investors.
  • Colombia is the country with the most Free Trade Zones in the region which have various tax benefits (20% income tax instead of 33% and 0% VAT)
  • Colombian government stablished tax benefits for companies that set up their operations in the denominated areas ZOMAC (areas that were most affected by the armed conflict)

THE GOVERNMENT'S COMMITMENT TO DEVELOPMENT

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  • Colombia has a National Development Plan that addresses the country's primary needs and designs and implements an action plan to achieve continuous growth and competitiveness. Peace, education, and social equity are the government's key pillars.
  • The Productive Transformation Program (PTP) promotes the productivity and competitiveness of 22 economic sectors with high export potential through a more efficient coordination between the public and private sectors.



Invest in Colombia

 

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pdfColombia Presentation 20196.19 MB

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Proexport Colombia  is the bureau in charge of tourism, foreign investment and export promotion in Colombia.

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