AND OPPORTUNITIES: WHEN INVESTING, GROWTH, CONFIDENCE,
Investment Booklet
Sep 14, 2014
Investment Booklet
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INV
EST I
N COL
OMBIA
AND OPPORTUNITIES: WHEN INVESTING,
GROWTH, CONFIDENCE,
Libertad y Orden
Liberta y Orden
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Bogota, Colombia
GREETINGS FROM THE PRESIDENT, JUAN MANUEL SANTOS We are in the decade of Latin America, and Colombia in particular is doing exceptionally well at the moment, positioning itself as one of the region’s most dynamic destinations.
2012 was an exceptional year. We have managed to achieve positive results in all our indicators, recording the highest level of direct foreign investment in history, one of the lowest inflation rates in Latin America, a positive fiscal situation that has come very close to equilibrium and a continually falling rate of unemployment.
Colombia is currently the third most business-friendly country in Latin America, the greatest reformer in the region and the number one country for investor protection, according to the World Bank’s Doing Business report. The country has also been recognised by the Heritage Foundation as one of the markets where economic freedom provides opportunities to generate positive and visible results in terms of prosperity.
We have taken important steps towards integration in the global community: free trade agreements with almost all the countries of the Americas, EFTA and, in the near future, the European Union; 22 international investment agreements with over 40 countries, and 16 double taxation agreements.
These are factors that make our nation a safe and strategic destination for foreign companies with plans for expansion. To such
companies I would like to highlight the capacity and creativity of Colombia’s human resources, its geographical location, which makes it an attractive platform for exports and connections with the rest of the world, as well as the introduction of fiscal measures to ensure long-term sustainability, and a stable and efficient legal system that protects investment.
In this brochure, you will find specific information about Colombia - based on figures and statistics sourced from both national and international organisations - which demonstrates the benefits and opportunities the country has to offer for profitable and lasting investments.
International leaders, major companies and specialist media all know that Colombia is one of the rising stars with greatest prospects for economic expansion. We are at an exciting moment in our development, so for those who want to plant their seeds in profitable, safe and stable ground, the answer is Colombia.
Juan Manuel Santos CalderónPresident of the Republic
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128
22
26
40
13
16
23
27
30
32
36
41
4446
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24
AN ACTIVE ECONOMY IN THE GLOBAL MARKET
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BIA51
56
63
67
7472
62
64
65
60
68
68
96
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2,070 ,408 Km2
TOTA
L
Panama
Ecuador
Peru
Colombia
Venezuela
Brazil
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ADMINISTRATIVE DIVISIONThe country has 32 department states and six main regions (Caribbean, Pacific, Andean, Orinoquia, the Amazon and Insular). Colombia possesses multiple facets of development and nine metropolitan areas each with a population of over 500.000 inhabitants: Bogotá, Medellín, Cali, Barranquilla, Cartagena, Cúcuta, Bucaramanga, Ibagué and the coffee-growing region or Cultural Coffee Landscape (Manizales, Pereira and Armenia).
The Insular Region
The Orinoquia Region (The Eastern Plains)
The Amazon Region
The Andean Region
The Caribbean Region
The Pacific Region
BRANCHES OF PUBLIC POWER
EXECUTIVE LEGISLATIVE JUDICIAL
US$ 60.7 billion (2012 - DANE)
US$ 59.1 billion (2012 - DANE)
47.1 million inhabitants
(2012 - DANE)
US$369.5 billion US$7,933 US$10,350 4.0% 10.4% 2.4%
41 inhabitants/Km2 (2012 -
DANE)
94.1% (2012 - DANE)
75.22 years (2012 - DANE)
GDP(2012-Banco
de La República)
GDPPer Capita (PPA, 2012-
EIU)
GDPGrowth
(2012-Banco de La República)
GDPPer Capita (Nominal, 2012-Banco de la
República)
RATE(2012-DANE)
UNEMPLOYMENT
RATE(2012-Banco
de la República)
INFLATION
EXPORTS IMPORTSX M
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Medellin, Colombia
COLOMBIA IS THE WORLD’S
28TH LARGEST ECONOMY AND ONE
OF THE LARGEST NON-OECD COUNTRIES
Colombia
Malaysia
Mexico
Brazil
Belgium
Philippines
Switzerland
Sweden
Hong Kong
Peru
Norway
Chile
Vietnam
Singapore
Israel
Denmark
New Zealand
498
2.0
60
2.35
9
497
434
420
412
402
370
326
324
321
320
254
248
232
136
GDP (PPP)- 2012 BILLIONS.
LATIN AMERICA.Note: GDP in accordance with Pur-chasing Power Parity - PPP - pricesSource: EIU - Economist Intelligence
Unit. 2013.
5,826
6,817
8,838
9,920
200
020
1120
1220
1020
04
200
820
09
200
720
06
200
520
01
200
220
03
GDP PER CAPITA (PPP) 2000- 2012 US$
FAVOURABLE MACROECONOMIC ENVIRONMENT
Note: GDP in accordance with Purchasing Power Parity - PPP - prices
Source: EIU - Economist Intelligence Unit. 2013.
US$10.350
COLOMBIA’S GDP PER CAPITA IS CLOSE TO
US$11,000
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In 2012, the Colombian economy grew by 4.0%, a percentage which is higher than the growth of the world economy (3.3%) and of Latin America and the Caribbean, which was 3.0%. It is expected to reach a figure close to 4.1% (FMI) by the end of the year. The results obtained are also in line with expectations for growth over the four-year period, which is forecast to be around 6.2% for 2014.
In 2012 the country presented its highest level of international reserves US$37.5 billion and a low level of inflation 2.44%. The unemployment rate has been declining steadily over the last few years, reaching a historic minimum of 10.4% at the end of 2012.
MACROECONOMIC STABILITY AND DYNAMIC LONG-TERM ECONOMIC PERFORMANCE
GDP, inflation, and rate of unemployment 2002 - 2016 Annual average. % Projectable
p: Projectable. e: Estimate.
UNEMPLOYMENT RATE
GDP
INFLATION
11.2 11.3 12.0 11.810.8 10.4 10.1 9.9 9.7 9.3
2.92.93.13.13.72.0
7.7
5.74.54.9
5.56.57.0
2.4
4.74.74.04.0
1.7
3.5
6.96.7
4.75.3
3.92.5
6.64.94.9
20102004 2008 20092007200620052002 2003 2011 2012 2013p 2014p 2015p 2016p
12.011.8
13.714.115.6
Source: DANE, Banco de la República. EIU - Economist Intelligence Unit, 2013.
Source: EIU - Economist Intelligence Unit.
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COLOMBIA HAS THE 23 LARGEST POPULATION
IN THE WORLD AND THE SECOND LARGEST SPANISH
SPEAKING POPULATION AFTER MEXICO
Population: 2013p.* Millions of inhabitantsSource: DANE; EIU - Economist Intelligence Unit, 2013.*P:Estimate.
Mex
ico
Sou
th
Kor
ea
Can
ada
Peru
Mal
aysi
a
Aus
tral
ia
Chi
le
Col
ombi
a
Cze
ch v
Sw
eden
Aus
tria
Switz
erla
nd
Hon
g K
ong
Isra
el
Nor
way
Sing
apor
e
New
Zeal
and
98.62
47.146.6
30.3 25.5 22.919.0 15.2
10.2 8.87.9 7.1 6.6 6.1 4.4 3.9 3.8
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Colombia is a young and dynamic country in which 55% of the population is under 30 years of age.
47.1 MILLIONS25.9 MILLIONSTotal population in metropolitan areas
Medellin 2.4
Bogota 7.5
Ibague 0.5
Cucuta 0.6
The cultural landscape of the
coffee-growing region (Cultural
Coffee Landscape): Pereira, Manizales,
Armenia.1.1
Total population 2013*
City Populations include surrounding metropolitan areasSource: DANE.*Forecast.
1.2
1.0
2.3
0.5
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Colombia is the third most business-friendly,
and the most reformative country in Latin
America. Similarly, it holds sixth place in
the world and first in the region in terms
of protecting its investors according to the
World Bank’s Doing Business report 2013.
Source: The Doing Business Report, 2013 - The World Bank.Positive statistics indicate an improvement in business environment.
Colombia 30
16
87
30
-2
-8-1
3
-21
Peru
Venezuela
Brazil
Argentina
Chile
33 43 44 53 62122116128134179
3743454861110124130139180
Panama
Costa Rica
Mexico
Ecuador
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Source: The Doing Business Report, 2013 - The World Bank.
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The Economic Freedom Index, analyzing the policy development of 184 countries, has recognised Colombia as being one of the markets in the region in which economic freedom is allowing it to generate both positive and visible results in terms of prosperity.
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A RELIABLEPARTNER
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Standard & Poor’s is the first of the main rating agencies to improve the outlook of Colombia’s sovereign debt to positive:
“The effective implementation of fiscal policy reforms could improve its financial profile, reduce debt and the government’s interest burden.”
- Standard & Poor’s, August, 2012.
In 2013 Standard & Poor’s raised its outlook on Colombia’s foreign debt to positive, based on the effective implementation of tax reforms, providing the country with a stronger financial outlook.
Stable
Positive
Positive
24/apr./2013
16/mar./2011
5/mar./2007
5/mar./2007
22/jun./2011
22/jun./2011
22/jun./2011
7/feb./2012
BBB
A – 2
BBB +
A - 2
August 2012.
CDS INDEX*Average 2012.
*Credit Default Swap Index.Measures the difference between the interest rate paid for a Colombian bond in dollars abroad against the rate paid for a US bond. CDS as at 31 December, 2012. Less difference implies lower country risk.
Source: La República newspaper. Bloomberg. CDS at 31 December, 2012.
France
97.23bp 119.43bp 120.07bp 130.05bp 130.06bp 1118.77bp 153.23bp
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Colombia’s economic indicators continue to be favorable. Sound fiscal policies and low sustained levels of inflation, can be noted alongside increased confidence from international markets with regards to the country’s economic stability. Colombia has the second lowest risk perception in the region—according to its position on the Credit Default Swaps Index. The country has a lower risk perception than other countries in the region such as Brazil, Mexico, and Peru.
ITS LOW RISK PERCEPTION IS ACKNOWLEDGED BY INTERNATIONAL MARKETS, BASED ON THE ECONOMY’S POSITIVE STATE OVER THE PAST FEW YEARS.
COLOMBIA’S RISK PERCEPTION CONTINUES TO IMPROVE AND IS ONE OF THE LOWEST IN THE REGION
*Credit Default Swap Index.Measures the difference between the interest rate paid for a Colombian bond in dollars abroad against the rate paid for a US bond. CDS as at 31 December, 2012. Less difference implies lower country risk. Source: La República newspaper. Bloomberg. CDS at 31 December, 2012.
CDS INDEX* Average 2012.
2011 2012
Colombia Brazil Chile Mexico FrancePeru
50
70
90
110
130
150
170
190
210
230
250
Jan.
Feb.
Mar
.
Apr
.
May
.
Jun.
Jul.
Aug
.
Sep
.
Oct
.
Nov
.
Dec
.
Jan.
Feb.
Mar
.
Apr
.
May
.
Jun.
Jul.
Aug
.
Sep
.
Oct
.
Nov
.
Dec
.
Colombia
Brazil
Chile
Mexico
Peru
France
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AN ACTIVEECONOMY IN THEGLOBAL MARKET
16,78824,391
37,62639,713
60,274
13,158
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012
Source: DANE.
56,915
MAIN DESTINATIONS FOB US$ 2012 MILLIONS
SHARE2012
United States 21,980 36.7%
China 3,343 5.6%
Spain 2,940 4.9%
Panama 2,857 4.8%
Venezuela 2,556 4.3%
Netherlands 2,503 4.2%
Chile 2,189 3.7%
Ecuador 1,910 3.2%
Peru 1,582 2.6%
India 1,363 2.3%
MAJOR EXPORT DESTINATIONS, 2012
EXPORTS X
EXPORTS, 2000 - 2012 US$ MILLIONS
EXTENSIVE TRADE RELATIONS - MAIN EXPORT DESTINATIONS27
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MAJOR IMPORT DESTINATIONS - 2011
In 2012 Colombian world exports reached US$60.2 billion, 5.8% more than in 2011 when the country recorded US$56.9 billion. Of the total exports in 2012, the nonmining sector represented 23.7% of Colombian exports with US$14.3 billion.
The main subsectors in nonmining world exports in 2012 were:- Cut flowers, with US$1.3 billion, a share of 8.8% and growth
of US$16.6 million (1.3%).- Plastics in primary forms, with US$975.3 million, a share
equal to 6.8% and growth of US$17.2 million (1.8%).- Bananas, with US$822 million, a share equal to 5.8% and
growth of US$6.9 million (0.8%).
With regard to imports in 2012, the main countries from which Colombia makes its foreign purchases are United States (23.9%), China (16.3%), and Mexico (11.1%), in that order. Other countries (110 in total) accounted for a share of 28.4% on average over the last two years and this has been maintained since 2010.
The main products purchased abroad in the nonmining segment and excluding coffee are: industrial machinery, vehicles, other means of transport, telecommunications/sound, and iron/steel manufacturing.
IMPORTS 2000-2012 US$ MILLIONS
11,75713,882
39,669
58,632
40,683
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012
54,675
Source: DANE (The National Department of Statistics) - CIF values.
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The country offers a diverse range of exports and has a presence in the five continents. Colombia currently exports to 175 countries.
The quality of the country’s products is recognized at a global scale and includes: cut flowers (fresh and exotic), tropical fruits, textiles and clothing, confectionary, and coffee products.
With over 9,000 export companies, Colombia offers its international buyers innovation, diversity, and quality based on creativity and technology.
NONMINING EXPORTS % SHARE 2012
Total Nonmining exports 2012: US$14.008 millionSource: DANE.
Clothing 10.2%
Services 0.6%
Other 0.7%
Agrobusiness 32.8%
Manufacturing55.7%
% SHARE 2012TOTAL EXPORTS - MINING AND NONMINING SECTORS
Total exports 2012: US$60.274 millionSource: DANE.
Nonminingsectors
(excludingcoffee) 24%
Miningand coffee
76%
Subsector
Fresh cut flowersPlastics in primary formsBananaClothing sectorHousehold products Cosmetics and cleaning products
MetallurgySugar and honey
MAIN NONMINING PRODUCTS EXPORTED BY COLOMBIA
Source: DANE. Calculations by PROEXPORT.
Subsector
Pharmaceutical productsIron and steel manufacturesA range of products fromthe chemical industriesCoffee products
Confectionary
Live animals (beef cattle)
Textiles
Share % 2011
9%7%6%5%4%4%
4%3%
Share % 2011
3%3%
3%
2%
2%
2%
2%
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MAJOR NATIONALITIES OF VISITORS TO COLOMBIA, I - SEMESTER, 2012.
FOREIGN TRAVELLERS IN COLOMBIA2006-2012 (THOUSANDS)
2006 2008 2009 2010 2011 20122007
1,053 1,222 1,353 1,474 1,582 1,5921,195
50
228
284
296313 254
126
Foreign travellers
Venezuela250,404 visitors
14.8% share
Argentina111,555 visitors
6.6% share
Ecuador114,564 visitors
6.8% share
United States of America
319,202 visitors 18.9% share
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Colombia has 53 million hectares of natural woods, 22 million hectares of savannah, arid areas, snow-capped mountains, and wetlands; It also ranks fourth in the world for its abundance of terrestrial water resources. The country’s natural parks make up 14% of national territory and it is the most biodiverse country per square kilometre in the world. The Caribbean and Pacific coasts are ideal for surfing, fishing, rafting, and regattas.
The UNESCO has recognized 13 Cultural Heritage of Humanity sites in Colombia and in June 2011; the coffee-growing region, or Cultural Coffee Landscape was added to the list. The country also offers an important array of beaches. The Islands of Baru, Rosario, San Andres and Providencia (with its “sea of seven colors” as it is traditionally called) as well as Tayrona National Park amongst others, make of Colombia an ideal tourist destination.
Within Latin America, Colombia is positioning itself as one of the major destinations for events and business meetings. The country climbed 21 places (from 50 to 29) at the International Congress and Convention Association’s (ICCA) ranking of international events between 2000 and 2012.
Paci�c Ocean
Caribbean Sea
¿WHAT CANYOU FIND?
NATURE
ADVENTURE
WHALE WATCHING
BIRDWATCHING
SCUBA DIVING
ARCHAEOLOGY
SHOPPINGGOLF
FAIRS AND FESTIVALS
SALSA
GASTRONOMY
CAPITAL CITY
RELIGIOUS TOURISM
HERITAGE DESTINATIONS
AGRITOURISM SUN AND BEACH
NAUTICAL
CRUISE
Santa Marta
Barranquilla
San Andres & Providencia
Choco
Nariño
Medellin
Cali - Valle del Cauca
Cartagena de Indias
Huila
Meta
Amazon
Santander
Boyaca
Bogota
Coffe CulturalLandscape
MICE
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PACIFIC ALLIANCE
Colombia currently has twelve free trade agreements in force, eight undersigned and six in the process of negotiation. These will allow preferential access to a market of over 1,500 million consumers.
The country’s trade integration agenda includes 24 international investment agreements (IIA)* with over 40 countries and 17 agreements preventing double taxation (DTAA).
*Includes investment chapters inside the FTA.
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CURRENTCANCanadaChileEFTA (Switzerland and Liechtenstein)G2-MexicoMercosurNorthern TriangleUnited StatesVenezuela
SIGNEDCosta RicaEuropean UnionIcelandNorwaySouth Korea
NEGOTIATIONIsraelJapanPacific Alliance PanamaTurkey
Source: Ministry of Commerce, Industry and Tourism. 2013.
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IN FORCEPeru (agreement).Spain (agreement).China (agreement).India (agreement).Switzerland (chapter V).Liechtenstein (chapter V).Chile (chapter IX).Northem Triangle (chapter XII).Canada (chapter VIII).Mexico (chapter XVII).United States (chapter X)..
SIGNEDSouth Corea (agreement).EFTA (Iceland y Norway) (chapter).Japan (agreement).United Kingdom (agreement).European Union (chapter).
UNDER NEGOTIATIONIsrael.Kuwait.Singapore (Negotiations concluded).Turkey.Uruguay.Qatar.
FUTUREAzerbaijan.Russia.
AGREEMENTS FOR THE PROMOTION AND RECIPROCAL PROTECTION OF INVESTMENTS - APPRI
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AGREEMENTS FOR THE AVOIDANCE OF DOUBLE TAXATION AND THE PREVENTION OF TAX EVASION - DTTS
IN FORCECAN (Perú, Ecuador y Bolivia).Canada.Chile.Spain.Switzerland.
SUSCRIBEDCzech Republic.India.Mexico.Portugal.South Corea.
UNDER NEGOTIATIONBelgium.France.Germany.Holland.Japan.United States.
FUTUREBrazil.China.Israel.Italy.
26 markets have been identified for which Colombia could become a platform for exporting products to the United States and the Andean Community of Nations (CAN) countries, as well as 12 markets in Europe, 6 in Asia , and 7 in Latin America and Canada.
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Colombia’s 12 current trade agreements with over 20 markets allow the country to have tariff advantages for exporting to these markets with highly competitive rates, as well as logistical advantages.
Some examples of export platforms based on logistical advantages of air freight
Tariff Advantages to United States, Canada and Mexico.
COLOMBIA AS AN EXPORT PLATFORM TO THE WORLD AND FOR THE WORLD
City of Origin
Destination City
São Paulo Lima La Paz
Journey time
Freight US$/Kg
Journey time
Freight US$/Kg
Journey time
Flete US$/Kg
New York 9 h 35 min 6.17 9 h 4.91 9 h 55 min 6.79
Mexico City 9 h 15 min 4.70 5 h 50 min 3.47 6 h 40 min 4.15
Bogota 5 h 55 min 1.30 2 h 55 min 1.39 3 h 30 min 2.85
Country of Origin Sector
Tariffs charged for
USA Canada Mexico
BrazilAutomotive and Auto Parts 10.9% 5.44% 28.16%
Chemicals 4.4% 3.0% 8.74%
Argentina
Textiles 15.6% 18% 30%
Chemicals 4.4% 2.16% 6.44%
Food and Tobacco 23.3% 0% 25.59%
EcuadorDrinks 7.6% 0%
Building Materials -- 0% 7.19%
Colombia 0% 0% 0%
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COLOMBIA AS AN EXPORT PLATFORM TO THE WORLD AND FOR THE WORLDColombia has direct cargo flights to the main cities in the United States, Canada and Latin America, enabling us to save up to 9 hours flight time and make a saving of US$9/Kg.
Colombia’s logistical advantages allow it to ship a container to the United States in up to 30 days less than other countries in the region, generating a saving of more than US$130.
Some examples of export platforms based on logistical advantages of sea transport.
Tariff Advantages to Latin America.
Country of Origin
Destination Country
United States Canada
Transit time (Days)
Freight US$/Kg
Transit time (Days)
Freight US$/Kg
Brazil 40 155 49 212
Argentina 41 133 48 158
Ecuador 12 66
Colombia 11 54 10 75
Country of Origin Sector
Tariffs charged for
Argentina Brazil CAN**
United States
Industrial Plant and Equipment 15.4% 16.12% 10.12%
Electronic Components and Semiconductors 17.9% 17.86% 16.22%
Canada
Electronic Components and Semiconductors 19.3% 17.6% --
Chemicals 14% 16% --
MéxicoAutomotive and Auto Parts 16.17% 13.7% 6.00%
Electronic Components 15.21% 15.1% 6.00%
Colombia 0% 0% 0%
** Andean Community (Colombia, Peru, Bolivia and Ecuador)
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Some examples of export platforms based on logistical advantages of sea transport.
Some examples of export platforms based on logistical advantages of air freight
Country of Origin
Destination Country
United States Canada Brazil
Transit time (Days)
Flete US$
Transit time (Days)
Flete US$
Transit time (Days)
Flete US$
Francia 22 304 39 98 23 82
Alemania 26 314 -- -- 16 62
España 24 242 45 221 18 91
Reino Unido 20 294 24 117 29 73
China 22 111 27 140 37 98
Corea 19 110 21 138 40 91
Colombia 11 54 10 75 12 53
City of Origin
Destination City
New York Toronto Sao Pablo
Journey time
Freight US$/Kg
Journey time
Freight US$/Kg
Journey time
Freight US$/Kg
Berlin 11 h 30 min 2.70 9 h 50 min 5.20 13 h 35 min 7.08
Paris 8 h 05 min 2.85 11 h 2.85 11 h 45 min 8.42
Madrid 8 h 30 min 2.22 11 h 5 min 2.3* 11 h 10 min 1.89
London 7 h 40 min 2.61 7 h 55 min 3.37 11 h 45 min 5.60
Beijing 15 h 34 min 6.13 12 h 50 min 6.12 22 h 40 min 10.29
Seoul 13 h 50 min 4.61 13 h 4.35 23 h 55 min 8.85
Colombia 6 h 1.85 6 h 05 min 1.52 5 h 55 min 1.30Tariff Advantages to Latin America, United States and Canada
Tariff Advantages to Latin America, Mexico and Brazil.
Country of Origin Sector
Tariffs charged for
United States Canada Brazil Argentina
France
Electronic Components and Semiconductors 3.08% 5.1% 20% 20%
Chemicals 6.5% 6.5% 16% 16%
GermanyAutomotive and Auto Parts 1.3% 6.1% 20% 34.98%
Industrial Plant and Equipment 4.7% 1.42% 16.12% 15.43%
SpainChemicals 5.98% 6.5% 14% 14%
Industrial Plant and Equipment 4.4% 1.69% 15.8% 15.43%
United Kingdom
Industrial Plant and Equipment 3.35% 3.24% 16.1% 15.4%
Metals 8.11% 7.51% 16.8% 22%
Colombia 0% 0% 0% 0%
Country of Origin Sector
Tariffs charged for
United States Canada Mexico Brazil
China
Metals 11.2% 5.4% 20% 22.7%
Electronic Components and Semiconductors
8.0% 3.5% 17.1% 22%
KoreaTextiles 20.4% 18% 30% 35%
Metals 5.7% 5% 20% 18%
Colombia 0% 0% 0% 0%
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Source: CRC – The Commission of Telecommunication Regulation (CRT). MinTIC, 2013.
RAPID GROWTH IN THE CONSUMER MARKET: OVER 49 MILLION ACTIVE MOBILE USERS
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012
2.263.27
4.60
6.19
10.4021.85
29.7633.94
41.3642.03
44.48
46.20 49.07
5.3%7.6%
10.5%
13.9%
23.0%47.5%
68.6%77.3%
85.2%91.0%
97.7%
100.3% 105.3%
Internet access connections have tripled over the last five years, rising from 2.17 million in 2008 to 7.25 in 2012. In the period 2011-2012 alone, subscriptions to fixed and mobile internet increased by 18.2%. The number of mobile telephone subscribers has also grown exponentially by five times since 2004 until reaching the figure of 49.07 million subscribers by the end of 2012, with a penetration rate of 105.3 subscribers per 100 inhabitants.
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INTERNET HAS TRIPLED OVER THE LAST FIVE YEARS
2004 2005 2006 2007 2008 2009 2010 2011 2012
218,405501,238
1,072,881
2,150,718 2,179,951
3,181,431
4,384,181
6,140,2717,256,091
Source: e-government survey – The United Nations, 2012. Drafted by Proexport.
THE MOST RECENT UNITED NATIONS E- GOVERNMENT SURVEY SHOWS THAT COLOMBIA MAINTAINS ITS LEADERSHIP
IN THE REGION WITH REGARDS TO E-GOVERNMENT; HOLDING SECOND
PLACE IN LATIN AMERICA AND RANKING FORTY-THIRD IN THE WORLD
0.93
0.87
0.85
0.84
0.68
0.62
0.62
0.57
0.56
0.54
0.52
0.49
0.47
0.41
0.66
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Colombia is strategically located within five different time zones; sharing one of these with important and central business hubs including New York, Toronto, and Miami.
It finds itself at the heart of the hemisphere’s major commercial and financial centres, both in North and South America, sharing cultural affinity with both regions— an asset in terms of the successful consolidation of operations.
More than 22 airlines, both cargo and passenger based, fly to Colombia. The country counts on over 700 direct, international frequencies and above 4,900 domestic frequencies every week.
KEY STRATEGIC LOCATION
OVER 800 DIRECT INTERNATIONAL FLIGHTS PER WEEK.
OVER 4,500 DOMESTIC FLIGHTS PER WEEK
OVER 20 AIRLINES OPERATE IN COLOMBIA
MORE AND MORE AIRLINES ARE ADDING ROUTES AND FLIGHT FREqUENCIES, WHICH IMPROVES COLOMBIA’S AIR CONNECTIVITY
DIRECT INTERNATIONAL FLIGHTS HAVE INCREASED BY 130% BETWEEN
2000 AND 2010
EASY ACCESS TO GLOBAL MARKETS
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The data includes routes flying out of Barranquilla, Bogota, Cali, and Medellin International Airports.
Source: Routes and Tariffs – Tools for the Colombian exporter. Processed by Proexport Colombia.
COLOMBIA: COMPETITIVE LOCATION WITH EASY ACCESS TO GLOBAL MARKETS
DIRECT AIR CONNECTIVITY
6 h 05 m
11 h 15 m
10 h 40 m
9 h 40 m5 h 35 m
8 h 20 m
3 h 00 m
4 h 45 m
1 h 20 m
3 h 00 m
1 h 30 m
5 h 00 m
5 h 45 m
6 h 15 mBuenos Aires
Caracas
Lima
Quito
Toronto
Frankfurt
Paris
MadridNew York
Los Angeles
Miami
Mexico City
Santiago de Chile
Sao Paulo
Colombia is situated on a focal point of maritime activity. It is close in proximity to the Panama Canal, a crossroad for the main lines of global trade communication, a strategic connection point between North and South America—as well as the East Coast of the United States of America and Asia. These features present an opportunity by means of acting as a commercial exchange platform.
Air connections for cargo transport from Colombia are covered by 32 airlines with cargo quotas operating on more than 1,700 export routes with access to some 400 cities around the world. El Dorado International Airport has the highest movement of cargo in Latin America, with 520,000 tons moved.
400623thousand tons cargo were transported (air cargo) in 2012.
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Source: Routes and Tariffs – Tools for the Colombian exporter.Processed by Proexport Colombia.
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*Over
More than 3,000 ocean freight routes (regular, direct, and connecting services) depart from Colombian ports, made up of 28 shipping companies, destined for 500 ports around the world.
Colombian ports mobilize 127 million tons of cargo and receive close to 25,000 vessels via the Atlantic and Pacific coasts. Likewise, port companies providing a public service mobilize around 2.1 million containers a year.
* The data includes routes departing from the ports of Barranquilla, Buenaventura,
Cartagena, and Santa Marta.
Source: Routes and Tariffs – Tools for the Colombian exporter. Processed by Proexport Colombia.
127million tons of cargo were shipped by sea in 2012.
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Atlantic Ocean
BuenaventuraBuenaventura
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COLOMBIA POSSESSES A SKILLED AND DEVELOPED WORKFORCE
(MASTER DEGREES AND FURTHER STUDIES)
According to Euromonitor International, Colombia had the third highest number of graduates, of the following subjects, in the region during 2012: Social Sciences, Business, Law, Engineering, Manufacturing, and Construction. Seven of Colombia’s universities rank as amongst the best in the world.
The availability of human resources is growing at a higher rate than many other countries. According to the Growth of the Workforce Index (IMD, 2012) Colombia is ranked as fifth in the world and second in the region in terms of both growth and labor force.
MORE THAN
53%
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Source: (Ministerio de Educación Nacional de Colombia) Colombian Ministry of Education.
The national government supports the promotion of bilingualism by means of initiatives such as iSpeak. This scheme provides local and foreign companies with information regarding Colombian nationals with a certified level of English —applicable to the professional world. Currently, more than 26,000 professionals from many of Colombia’s cities, have a certified level of the language.
Postgraduate55.872
28%
Vocational & Technical39.322
19%
Undergraduate105.979
53%
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SOCIAL SCIENCES, BUSINESS AND LAW GRADUATES 2012*
ENGINEERING, MANUFACTURING AND CONSTRUCTION GRADUATES 2012*
Mexico
Chile
Colombia
Venezuela
Peru
Argentina
2
3
5
15
18
28
3.78%
3.57%
3.05%
1.95%
1.86%
1.10%
World ranking amongst 59
coutries
% Increase in labour
force
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Sectors based on innovation are a symbol of our vision for the future; our move towards greater development and our steadfast ambition of competing within the international market are on an equal footing with higher income countries – National Development Plan 2010-2014.
Colombia is betting on innovation as a crosscutting component in order to transform both products and services that generate added value and skilled employment. The National Government has allocated 10% of royalty payments, arising from the extraction of hydrocarbons and minerals, to strengthen science, technology and innovation. Its aim is to advance towards becoming a knowledge-based economy.
*Non mining energy Source: DNP.
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In order to achieve these goals and foster new investment into R+D, and as a means of obtaining innovative processes, the following mechanisms have been created:
INNOVATION DEVELOPMENT INCENTIVES
With the aim of strengthening business innovation and high-impact, innovative entrepreneurship Bancoldex (Programme to invest in Private Capital Funds) has created Innpulsa. This Innovation and Development Unit cultivates financial and non-financial tools to promote and strengthen business innovation and dynamic ventures. Its work is based on four strategic levels:
INCOME TAX DEDUCTIONS
EqUIVALENT TO 175% OF THE VALUE INVESTED
INTO RESEARCH AND DEVELOPMENT
AN EXEMPTION OF SALES TAX (VAT) ON THE IMPORTATION OF
EqUIPMENT USED BY R+D CENTRES RECOGNISED BY
COLCIENCIAS
RESOURCES RECEIVEDTO FINANCE SCIENTIFIC AND TECHNOLOGICAL
PROJECTS OR INCOMES FROM INNOVATION ARE INCOME TAX EXEMPT.
PROTECTION OF INDUSTRIAL PROPERTY
IN ACCORDANCE WITH INTERNATIONAL
STANDARDS
EqUIPMENT AND DEVICES IMPORTED BY R&D
CENTRES RECOGNIZED BY COLCIENCIAS WILL
BE EXEMPT FROM VALUE ADDED TAX (VAT)
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INNPULSA - DYNAMIC, INNOVATIVE VENTURE SEEKING TO STRENGTHEN AN ECOSYSTEM THAT FACILITATES THE CREATION OF HIGH-IMPACT, VIBRANT ENTREPRENEURSHIP.
INNPULSA MIPYME (MY SMES) - MODERNISATION AND INNOVATION FUND FOR MICRO, SMALL, AND MEDIUM COMPANIES; OFFERING CO-FINANCIAL AND NON-REIMBURSABLE SUPPORT TO (INNOVATION AND COMPETITIVENESS FOCUSED) PROGRAMMES, PROJECTS, AND ACTIVITIES.
INNOVATION AND ENTREPRENEURSHIP IN LARGE COMPANIES - ENCOURAGING THESE qUALITIES AS WELL AS THE PROMOTION OF RESEARCH AND DEVELOPMENT CENTRES, WITHIN LARGE COMPANIES, AS PART OF THEIR CONTRIBUTION TOWARDS AN INNOVATIVE CULTURE.
REGIONAL INNOVATION AND ENTREPRENEURSHIP - WORKING ALONGSIDE REGIONS TO IDENTIFY, DESIGN, AND FORMULATE STRATEGIC (COMPETITIVENESS) PROJECTS THAT WILL PROMOTE INNOVATION AND PRODUCTIVE POTENTIAL, SEEKING BUSINESS GROWTH.
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FREE ZONES WITH INCOME TAX OF 15%2, POSSIBILITY OF SELLING TO THE LOCAL MARKET, EXEMPTION FROM CUSTOMS DUTIES (VAT, TARIFFS) AND ACCESS TO THE BENEFITS OF INTERNATIONAL TRADE AGREEMENTS.
2 For Free Zones applied for or approved before 31 December 2012. For Free Zones applied for after 31 December 2012, income tax of 15% must be paid + income tax for equity – CREE, for which the rate is 9% for the years 2013 to 2015 and 8% for the following years.
EMPLOYMENT INCENTIVES
*For Free Zones applied for or approved before 31 December 2012.
Income tax of 15%*
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DEVELOPMENT PLAN 2010-2014
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- The allocation of 10% of royalty payments to strengthen science, technology, and innovation.- Increase R&D investment by 0.16% of GDP to 0.5% of GDP by 2014.- Increase value added exports (non-mining energy) by 31%, from US$14,318 million in 2010 to US$21,000 million in 2014.- To finance the education of 2,550 new PhDs by 2014.- Promote an innovation ecosystem with 12 Business Angels networks by 2014.
Infrastructure investment of 3% to 4% of GDP, which means, in Colombia’s case, doubling current investment levels. This alongside other mechanisms such as royalties and adjustment funds will allow the country adequate levels of sector investment.
- Mining and energy GDP will grow by 16.8% by the year 2014 and will reflect a share of more than 25% of GDP in Colombia.- The mining and energy sector will generate 100,000 new jobs between 2010-2014.- Total sector exports for 2014 will surpass US$35,000 million.- 2014 objectives include electrical power reaching 16,234 MW, hydrocarbon production 1,150,000 bpd and coal mining production 124 million tons; as well as extending geological coverage of the country to 80%.
- Government objective: 1 million low-income (social) houses (VIS - Spanish Abbreviation).- A plan is being worked on to donate 100,000 homes to single mothers, displaced people, victims of natural disasters, and those not earning a minimum salary.
- Colombia, third highest rate of precipitation in Latin America and eleventh in the world.- Special Commercial Reforestation Programme: Taking advantage of the country’s forestry potential (17 million hectares) pushing for commercial reforestation as a strategic element of the agricultural sector. - Unique forestry “one-stop window”: An instrument created with the aim of centralizing procedures and formalities required for commercial forestry activities. - Regulated forestry law.- Agricultural technology innovation.
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and private collaboration created by the Ministry of Commerce, Industry, and Tourism in 2008. It fosters productivity and competitiveness within (high exporting potential) sectors by means of more efficient coordination between the private and public sectors.
PTP OBJECTIVES: » Improve sector productivity and competitiveness.» Facilitate coordination between private and public sector players.» Help companies and sectors benefit from trade agreement
opportunities, by means of solid, exportable goods.» Contribute towards improving the quality of life of Colombians
via the successful performance of productive sectors and companies that generate employment.
Sectors within the Colombian economy were identified by means of open calls. Currently 16 sectors are involved in the Programme:Every one of the sectors linked to the programme hold a specifically tailored business plan. These aim at addressing and repairing existing weaknesses within the supply chain, improve human capital, reduce specialization and training gaps, and operate under a regulatory framework. This framework should impose no barriers to productivity and competitiveness, allow Colombian companies easy access to foreign markets, on an equal footing, and incorporate sustainability (as a distinguishing factor) to their products and processes.
PRODUCTIVE TRANSFORMATION PROGRAMME- (PTP)
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Source: Survey “Opinions of North American and European investors with regards to Latin American companies.” J.P. Morgan, 2011.
IED
Att
ract
iven
ess
Inde
x
IED Potential Index
Source: UNCTAD Report, 2012.
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MAIN INVESTOR COUNTRIES / CUMULATIVE 1994 – 2012*
IN 2012 COLOMBIA REACHED ITS HIGHEST EVER FDI FLOWS
United States United Kingdom Spain ChileUS$11,665
million20.2% share
US$6,334 million
11% share
US$5,918 million
10.3% share
US$4,238 million
7.3% share
Source: Banco de la República-Balance of Payments.Variation 2011–2012: +16.3%.*Share calculated from the total number of countries with positive cumulative investment, excluding reinvestment of profits or oil sector investment. Note: the list of main investor countries in Colombia excludes Panama.
In 2012, Colombia achieved its highest ever FDI flows, rising from US$1.7 billion in 2003 to US$15.8 billion. FDI also increased by a further 16.3% in the period 2011 - 2012.
Colombia also became the country with the third highest FDI flow as a percentage of GDP in the region.
Between 1994 and 2012 almost 50% of global FDI investment flows in Colombia was generated mainly by the United States, UK, Spain, and Chile.
Average1994 2002
2011 2012Average 20032010
2,504
15,612
6,896
IED, 1994-2012 US$MILLIONS
13,404
Venezuela1.7% / 5.3
Colombia4% / 13.6
Brazil2.7% / 66.6
Peru4.6% / 8.1
Chile7% / 17.3
Argentina1.6% / 7.2
Source: Banco de la Republica - Balance of Payments.
Direct Investment received US$billions
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*Share calculated from total positive net (sector) investment:US$15,896 million.
*Total nonmining sector participation with positive net investment: US$8,197 million.
OIL AND MINING REPRESENT 48% OF FDI IN COLOMBIA WITH US$7.6 BILLION, FOLLOWED BY MANUFACTURING (US$2.5 BILLION) AND TRANSPORT, STORAGE, AND COMMUNICATIONS (US$ 1.7 BILLION).
Among nonmining sectors, manufacturing, transport, storage and communications, and financial and business services, represent more than 60% of the FDI flows in Colombia in 2012.
FDI FLOW - PRIMARY SECTORSSHARE % - 2012*
FDI FLOW - PRIMARY NONMINING SECTORSSHARE % - 2012*
Other 2.2%
Manufacturers 12.9%
Electricity, Gas, and Water
5.1%
Transport, Storage, and Communications10.9%
Commerce, Restaurants, and Hotels10.1%
Oil Sector33.8%
Total FDI 2012: US$15,896 million.*
Other3.4%
Finance and Business Services 21.0%
Finance and Business Services 10.8%
Electricity, Gas, and Water 10.0%
Manufacturers25.0%
Commerce, Restaurants, and Hotels 19.5%
Transport, Storage, and
Communications21.1%
Total FDI 2012: US$8,197
million.*
Mines and Quarries (includes Coal) 14.2%
COLOMBIA: ONE OF LATIN AMERICA’S “NEW TIGERS”The influential American paper, the Wall Street Journal, recently described Colombia as being part of a new group of countries in the region emerging as a viable alternative for investors. “Characterized by youthful populations, growing middle classes, relatively low debt and dynamic economic expansion, these countries are poised to grab a bigger share of the region’s growth and attract more money from international investors.”
Colombia and Peru stand out amongst Latin America’s “new tigers” due to their rapid and continuous growth. Their currencies are solid and stable, they have managed to control inflation, their credit ratings are higher than those of their neighbours and their government’s have shown willingness to act in the face of deterioration. Colombia and Peru: Latin American’s “new tigers” – The Wall Street Journal. July 26, 2012.
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MOVING ON FROM BRICSColombia, among other countries such as Turkey and South Africa—are being touted as the next generation of tiger economies - fast-growing and relatively diverse economies, which means, unlike BRIC countries, they should be less heavily dependent on external demand.
The country is emerging as an attractive destination for investors as it works to distance itself from its troubled past. Elected in 2010, President Juan Manuel Santos has continued the center-right policies of former President Alvaro Uribe, prioritizing security and attracting overseas investors.
Improved security measures have led to over the last decade have helped per capita gross domestic product to double since 2002. Meanwhile, Colombia’s sovereign debt was promoted to investment grade by all three ratings agencies this year.The Wall Street Journal. September 18, 2011.
COLOMBIA FTA BECOMING A REALITYThe accord will render clear benefits for both sides. Colombia remains the third largest market in Latin America for U.S. exports and the second most important for small- and medium-sized firms. The two sides enjoy a $35 billion trade merchandise relationship.
The FTA will boost U.S. exports by $1.1 billion and provideaccess to Colombia’s $180 billion services market.The Miami Herald, May 7, 2012.
BBVA:COLOMBIA BECOMES A GLOBAL ECONOMIC SURPRISE“The country registers a growth trail that accelerated in the last twelve years. Investment has experienced a healthy steady advance and so has private consumption. Investment inflow jumped from 14% of GDP in 2000 to 28% in 2012, which represents 5.5 times in twelve years, painting a very promising panoramas” Juana Tellez chief economist, BBVA Colombia. “ These indicators together with the fact Colombia is undergoing a second economic opening following the signing of trade agreements can see Colombia join the elite of global economies. According to our forecasts, emerging countries will contribute 85% of global growth over the next 10 years and trade will be key to this growth” added Tellez, according to a press release from this financial Spanish entity.Economic Perspective Report EAGLEs 2012 – BBVA Bank February 20, 2012.
April 23, 2012.
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Assembly and auto parts
1. Assembly- Demand driven by the development of
Mass Transit Systems in Colombia’s major cities. Bogotá alone will require 12,000 new buses over the next few years.
- 75% of cargo in Colombia is transported by land, requiring a frequent renewal of the vehicle fleet.
- The country has a penetration of 80.2 vehicles per 1,000 inhabitants, representing a great opportunity for growth in a market that shows no signs of saturation.
- Demand driven by Colombia’s growth in foreign trade.
- Lorry scrapping policy: Over 50,000 units.
2. Autoparts- Due to high demand in the
aftermarket, imports of autoparts increased by 39%. Acolfa 2012
- Andean Automotive Agreement: requirement for minimum local content for the assembly of motorbikes, light vehicles, lorries and buses.
- Exports of autoparts have increased by 40% over the last 5 years, representing 61.5% of the export basket of the automotive sector.
- Sales of US$ 570 million in autoparts to local producers.
- In 2011, sales to local autopart producers amounted to around US$ 700 million. Acolfa 2012.
- Domestic and foreign companies are certified to the highest international standards.
- The country has a Qualified Warehousing Procedure for Conversion and Assembly,
which guarantees tariff-free status for automotive goods that meet Andean
origin requirements.
- Demand for vehicles in Colombia has increased by 25% between
2005 and 2012, resulting in sales of over 300,000 units in the last
year. Econometria 2013- Colombia is the fourth largest country for vehicle assembly in Latin America, employing 2.6%
of personnel working in the manufacturing industry. Andi
2012
- The scrapping policy and the growth of trade in the country
have had an effect on the demand for freight vehicles, which increased by 24.3% between 2011 and 2012, reaching 30,600 units.
Econometria 2013- Colombia hosts a number of well-
known assemblers such as: Renault, General Motors, Mazda, Toyota-Hino and
Busscar.
Cundinamarca
Bogota
Valle del Cauca
Risaralda
Atlantico
ADVANTAGES
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- Colombia is the third largest market for cosmetics and toiletries in Latin America. Euromonitor International,
2013.- Production activity in the
sector has seen average annual growth of 9.9%
since 2000. Andi, Chamber for the
Cosmetics and Toiletries Industry, 2012.
- Compound annual sales growth for the
sector is forecast at 7.1% for the
period 2012-2016. Euromonitor
International, 2013.- Major multinationals
in the sector such as Kimberly-Clark,
Belcorp, Yanbal, Henkel, Procter & Gamble,
Avon, and Unilever have established operations in
the country.
Cundinamarca
AntioquiaCaldasRisaraldaQuindio
Valle delCauca
Bolivar
Atlantico
Magdalena
ADVANTAGES
Observatory, 2012.
Centers
year. ANDI, 2012.
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· The GDP of the construction sector represents 7% of total GDP. Total GDP has grown in Colombia at
an average annual rate of 5.2% since 2006. This growth was higher than the average in Chile,
Mexico, Venezuela, Argentina, Asia, Europe, and the United States for the same period.
· By 2014 investment in infrastructure will reach 3% of GDP (US$12 billion3). This
investment will be used for road building and improvements to airports, ports
and railways. National Infrastructure Agency.
· The Ministry of Transport launched the Fourth Generation
of Road Concessions (4G), infrastructure projects for the
next two years. It is estimated that investments of US$
24 billion will be made, which will be distributed among
approximately 30 projects covering 8,170 kilometres, in over 22 departments in the
country. Ministry of Transport. · For 2014, the Government
has made a commitment to support the building of 1 million new homes. The Government will provide
100,000 social housing homes through its allocation of a budget of
US$2.3 billion. · Important sector multinationals such as,
Prebuild, Lafarge, Holcim, and Saint Gobain have established operations in the country.
Production and logistics centers.
1. Production- Exports of inputs for construction totalled US$
370 million in 2012, 8% higher than the figure recorded in 2010. Ministry of Commerce, Industry and Tourism and DANE.
- Availability of qualified human resources: over 12,000 technicians and professionals graduate every year in engineering subjects related to the sector. Employment Observatory, 2011.
2. I+D+i - National government
initiatives and incentives to promote R+D+i in the sector. Colciencias.
- High intellectual property standards: protection of industrial property to international standards (20 years’ protection for patent holders).
- Opportunities exist with regards to nanomaterial ecological material and smart technology.
3. Logistics Centers- Obligatory passage for shipping
companies covering the north-south, north-east and western shipping routes, thanks to Colombia’s proximity to the Panama Canal and its access to the two oceans.
- Over 3,700 maritime frequencies and approximately 1,000 flight frequencies are available for the transportation of goods.
Cundinamarca
Santander
Bogotá
Atlantico
Bolivar
Risaralda
Antioquia
Valle delCauca
3 Estimated value based on projected GDP of Colombia at current prices for 2014 according to EIU (US$422.8 billion).
ADVANTAGES
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R+D+I and production ProductionProduction and logistic centers
-Represents over 9.8% of the GDP of manufacturing industries, around 1.2%
of domestic added value and 5% of the country’s total exports. DANE, 2012-Imports increased by 49% between
2010 and 2012 to meet internal and external demand: clothing
saw an increase of 97%, leather, footwear and leather goods 47%
and textiles 46%. DIAN 2013-Major multinationals in the
sector have established operations in the country,
such as: Kaltex, Polymer Group and Parkdale Mills.
-The industry is characterized by having
flexible production tailored to clients’ needs,
with delivery times to match the speed of world
demand. · The Industry has
integrated processes: design, cutting, production and distribution, amongst
others. · An internationally
renowned, skilled workforce specially trained for the
industry.
1. Production- Over 30,000 companies are registered by the
Chamber of Commerce and make up 20% of the Industrial sectors workforce. Inexmoda 2012.
- Imports increased by 49% between 2010 and 2012 to meet internal and external demand: clothing saw an increase of 97%, leather, footwear and leather goods 47% and textiles 46%. DIAN 2013.
- More than 70% of companies are concentrated in the clothing, manufacturing and trade subsectors. Vertical integration investment opportunities exist in various links of the chain, including textiles, fibres, supplies, and services. Inexmoda 2012.
2. Logistics Centres- The country holds the
possibility of preferential access to over 1,500 million consumers thanks to Free Trade Agreements.
- Competitiveness in access to the North American market at costs on average 3 times lower than those incurred from China.
CundinamarcaValledel Cauca
Santander
Risaralda
Atlantico
Antioquia
ADVANTAGES
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· The BPO industry in Colombia has created more than 130,000
jobs. Diario Económico Portafolio, 2012.
· Companies like Sutherland, Teleperfomance and
Convergys have major bilingual operations in the country.
ACDCC, 2012.· The industry continues to
grow at sustained levels: 13.58% between 2010 and
2011. ACDCC, 2012.· The value of exports
increased by 125% over the last five years, reaching US$
141 million in 2011. ACDCC, 2012.
· The Target Market in 2014 for IT and BPO service companies in Colombia will be focused on
the segments of Engineering Services, Research and Development,
IT Services and Value Added BPO Services. Tholons, 2010.
· For the third consecutive year, Colombia was included in the report “Top 30 destination
countries for Offshore Services”. The report highlights the strengths of the country as a location
for call centre operations and transactional BPO work, proactive government support for the IT sector and
competitive costs. Gartner, 2013.
Bogotá • Voice BPO: Telemarketing – Collection – Sales – Customer Service• Back Office: Outsourcing of Financial and Accounting Services – Human Resources• KPO: Outsourcing of Engineering Services – Telemedicine – R+D+i – Graphic Design – Legal Services – Medical TranscriptionsMedellín• Voice BPO: Telemarketing – Collection – Sales – Customer Service• Back Office: Outsourcing of Financial and Accounting Services – Human Resources – Document Handling – 2nd Level Help Desk• KPO: Business Intelligence Services Cali • Voice BPO: Services – Collection• Back Office: - Outsourcing of Financial and Accounting Services• KPO: - Health – Pharmaceutical – AeroespaceBarranquilla• Voice BPO: Call Centres - Outsourcing of Financial and Accounting Services• KPO: Outsourcing of Engineering Services Bucaramanga • Voice BPO • KPO: Telemedicine - Outsourcing of Engineering ServicesCoffee Triangle
CundinamarcaAntioquia
Atlantico
Santander
Boyaca
Magdalena
Tolima
Norte de Santander
Huila
Caldas
Risaralda
QuindioValledel Cauca
• Voice BPO: Basic Voice (Manizales) – Telesales (Pereira)• Back Office (Pereira)
• KPO: Biodiversity (Colombia Bioinformatics and Computational Biology Centre – Manizales)
Tunja - Santa Marta – Ibagué – Neiva – Popayán - Cúcuta
• Voice BPO
ADVANTAGES
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Cundinamarca
QuindíoValledel Cauca
RisaraldaCaldas
Atlántico
Antioquia
BogotáOutsourcingIT Services: - Infrastructure – Network & Desktop – Application Management – Hosted Application Management – Hosted InfrastructureBusiness: Business Outsourcing ServicesIT Support and Training:Support: - Hardware and Software Implementation & Support Education and TrainingDeployment and IntegrationMedellínOutsourcingTI Services: - Infrastructure – Network & Desktop – Application Management – Hosted Application Management – Hosted InfrastructureBusiness: Business Outsourcing ServicesIT Support and Training:Support: - Hardware and Software Implementation & SupportEducation and TrainingDigital AnimationDevelopment of Mobile ApplicationsDeployment and IntegrationCaliOutsourcingIT Services: - Network & Desktop – Application Management and Maintenance IT Support and Training:
Support: - Hardware and Software Implementation & Support
Education and TrainingDeployment and Integration
Coffee TriangleOutsourcing
IT Services: - Network & Desktop – Application Management and Maintenance
IT Support and Training:Support: - Hardware and Software Implementation & Support
BarranquillaOutsourcingIT Services: - Network & Desktop – Application Management and Maintenance IT Support and Training:Support: - Hardware and Software Implementation & SupportEducation and TrainingBucaramangaOutsourcingIT Services: - Network
& Desktop – Application Management and Maintenance
IT Support and Training:Support: - Hardware and Software
Implementation & SupportEducation and Training
PopayánOutsourcing
IT Services: - Network & Desktop – Application Management and Maintenance
IT Support and Training:Support: - Hardware and Software Implementation &
Support
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26. In 2011 the IT spend in Colombia reached the figure of US$6.1 billion; distributed respectively in the niches of hardware US$3.6 bn (58%), IT services US$1.9 bn (30%), and software US$698 m (11%). Household and the Communications and Media, Banking and Government sectors represent more than 50% of the total IT spend in the country. IDC, 2012.27. The IT market has grown by more than 26% in the last 5 years. Between 2010 and 2011 sales increased significantly by approximately 44%. IDC, 2012. 28. IT Services continue to be the second most important technology market, retaining more than 30% of the market share. In the period 2010-2011 sales increased by more than 16%. ITO, Deployment and Support Services represent over 65% of
the market share. IDC, 2012.29. ITO: The sustained growth
of the industry in its different vertical sectors means a high
demand for IT services.30. Vertical Sectors: The country offers a wide range of sectors that demand a high component of outsourced services, not only the companies investing in the country, but also the base of domestic companies which are increasingly requiring these services.
Cundinamarca
QuindioValledel Cauca
RisaraldaCaldas
Atlantico
Antioquia
COMPETITIVE ADVANTAGES
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1. Upstream services (exploration and production)
- It is forecast that Colombia will have potential oil reserves of more than 47 billon barrels. Ecopetrol, 2012.
- It is estimated that by 2014 the country will hold 570 exploratory wells and more than 204 E&P contracts.
2. Midstream-
downstream services (transport, storage, and refining)
- Colombia has approximately 8.000 km of pipelines and it seeks to double its installed capacity.
- Expansion and modernization projects are in place in Cartagena’s refinery (aiming for 160 kbd) and Barrancabermeja’s refinery (capacity of 250 kbd).
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BIA- Growth in arrivals of foreign visitors to Colombia is
above the global average. Arrivals of international visitors to Colombia rose from 600,000 in the
year 2000 to almost 1.7 million in 2012.
- There are tax benefits such as exemption from income tax for a period of 30 years
in hotel infrastructure, exemption from income tax for a period of 20 years
for ecotourism services with effect from the tax year 2003, and tax and customs duty benefits on capital goods used for tourism exports (Vallejo Plan).
- In 2012, real hotel revenues increased by 7.3% compared to the previous year, and the numbers of staff employed increased by 3.4% in the same period (DANE 2013).
- In 2012, hotel occupancy rates reached 53.5%, 1.7
percentage points higher than in 2011 (DANE 2013).
- Colombia has around 750 international flights connecting 20
destinations around the world.
- Colombia climbed 21 places (from 50th to 29th) in the ICCA (International
Congress and Convention Association) ranking of international events between 2006
and 2012.
- Major international hotel chains such as Accor, Hilton, IHG, Wyndham, Meliá and Starwood have come to the
country.
Wellness Tourism:Development of Thalassotherapy centres, infrastructure for hydrotherapy and spas – Wellness Centres. NatureInvestment in “Eco-Luxury” hotels, Eco-gambling, Ecolodge and sustainable infrastructure associated with nature tourism (eco-trails, observation towers, bridges, environmental management infrastructure, etc.).Sun and Beaches:Luxury hotels, “luxury included” resorts, golf resorts.City HotelsConstruction of full-, limited- and select-service hotels in secondary cities around the country where the hotel supply does not yet meet demand.EntertainmentConstruction of theme parks, venues for shows and events (concerts).
SantanderBoyacá
Valledel Cauca
Magdalena
Antioquia
PaisajeCulturalCafetero
Chocó
Amazonas
Vichada
San Andrés
AtlánticoBolívar
Bogotá
Altillanura
Córdoba
Guajira
COMPETITIVE ADVANTAGES
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1. Production- Located on the equator, it is
unaffected by hurricanes, typhoons and other natural phenomena. IGAC, 2010.
- Well-established, internationally experienced companies are present in the country offering high quality products and skilled personnel.
2. R+D+i- Internationally
recognised research centre CENIACUA has fostered scientific and technological advancement for the development of the industry – via the establishment of best practise and the cultivation of production. The centre also contains a Genetic Improvement Project acknowledged both nationally and internationally.
3. Logistics Centers- Free Trade Agreements are
currently in force, undersigned and in negotiations with the major shrimp and prawn importers of the region and the
- The climate and water temperatures in
Colombia are relatively invariable, resulting
in stable production throughout the year. IGAC,
2010.
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Production and logistics centres.Production.Production and R+D+i
- Colombian cocoa is characterized by its intense flavour and aroma, qualities held by only 5% of the world’s beans. International Cocoa Organization, ICCO, 2011.- Ecuador, Colombia, Peru and Venezuela produce 70% of the world’s fine and aromatic cocoa. FAO,
2010 - Colombia has two million
hectares with potential to develop cocoa crops.
Ministry of Agriculture 2003.- The confectionery and
chocolate industry is part of the Ministry of Commerce,
Industry, and Tourism’s Productive Transformation Programme
(PTP) - seeking to increase sector competitiveness via public-private alliances
and business plans.
1. Production- Good physiographical soil, and climate
condition support the cultivation of cocoa. Ministry of Agriculture and Rural Development) (MADR), 2010.
- The modernization of crops to clones guarantees world-class cocoa and improves current production. National Cocoa Development Plan 2012-2021.
- Defined genetic material (both regional and universal clones) is in place for use according to the needs of each agro-ecological zone in the country. Fedecacao, Ministry of Agriculture and Corpoica, 2011.
- Income tax exemption exists for slow-yield crops plantations established between 2003 and 2014.
2. Logistics Centres - Free Trade Agreements are in
force and in negotiation with the primary cocoa importing global markets.
3. R+D+i- The 10-year Cocoa Plan 2012-2021
primarily aims at making Colombia a world-class player in the Fine and Aromatic Cocoa market. It aims at
increasing productivity from an average of 400 kg/ha/year to 1,200 kg/ha/year and reach modern crop production of 1,800 kg/ha/year.
The 10-year Cocoa Plan 2012-2021.- Research aimed at increasing average
yields from 400 kg/ha/year to 1,200 kg/ha/year and achieving yields
of 1,800 Kg/Ha/year for modern crop varieties. Ten-year Cocoa
Plan 2012-2021
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- The trade deficit in forest products represents an opportunity to exploit the domestic market in view of its size - 46 million inhabitants in 2011. DANE.
- Private sector funded research centres focusing on research into a single product, facilitating the transfer and adoption of results. (Cenicafe, Conif, Cenicaña, Augura, Ceniacua, Cenipalma, Cevipapa, Ceniflores)
- Biotechnology research to develop seeds with higher yields per planted hectare and pest control. Corpoica CBB 2013.
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1. Production- Ethanol: Colombia has the highest
sugarcane production yield rate in the world. FAO, 2010.
- Biodiesel: Colombia is the fifth highest global producer of palm oil, taking first place in Latin America. FAO, 2010.
- The biomass generated from the cultivation of palm oil can produce energy, extracted from methane and other by-products. International Conference on Palm Oil 2012.
- The biofuel produced in Colombia reduces greenhouse gas emissions by approximately 86%, placing it above the standard requirements in Europe and the United States. International Conference on Palm Oil, 2012.
2. Logistics Centres - Colombia holds Free Trade
Agreements with biofuel importing countries.
3. R+D+i- A network of R+D+I centres support
the industry including CENIPALMA (the National Centre for Oil Palm Research) and Sugar Cane (CENICAÑA).
- Construction of new biorefineries, biomass plants and development of Transesterification, to enable the conversion of sugarcane and oil palm into biodiesel.
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Atlantico
Antioquia
Valle del Cauca
BogotaBoyaca
· The metal-mechanic sector represents an advantage in terms of converting the country
into an export platform, as it has technological know-how, modern manufacturing
equipment, international goodwill, high quality standards, manufacturing
of small batches at lower cost and shorter delivery times than
the competition, and a stable workforce, amongst other advantages. Andi, 2012 · At the end of 2012, Colombia became one of the group of 20 countries producing more than 1 million barrels of oil per day and this is expected to continue to rise. This will generate a sustained demand for industry-related products. · With an energy production capacity of 14,480 GW/hour and more than 1,000 MMcfd of natural gas, the country has the energy resources necessary for the operation of
steelworks and metal-mechanic plants.
· The steel and metal-mechanic sector represents 12% of Colombian
industry and generates 15% of employment in manufacturing
industry. Andi 2012 · Demand for steel in Colombia increased
by 57% between 2005 and 2011, with consumption reaching 3.3 million tons in 2011.
Andi 2012 · Skilled workforce: Over 111,000 technicians and
professionals graduated between 2001 and 2011. Observatorio Laboral, 2012
In 2011 the consumption of flat steel products in Colombia reached 1.5 million tons per year with a domestic production deficit of around 63%.
Over the coming years demand for steel will be driven by the national government’s plans to build a million homes and to invest in infrastructure, which will double as a proportion of GDP by 2021, reaching US$ 55 billion.
The production of flat products in Colombia represents 24% of the total metal produced. Andi, 2012
Over 680 companies in Colombia are involved in the metal-mechanic sector. BPR Benchmark, 2012.
The metal-mechanic sector in Colombia produces the majority of flat products by smelting recycled steel. Andi, 2012
ADVANTAGES
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1. In 2013, Colombia continued to hold 4th place out of 12 Latin American and Caribbean countries in the ranking produced by the Latin American Private Equity & Venture Capital Association (LAVCA), which measures favourable conditions for the development of the PEF industry.2. One of Colombia’s strengths is its attactive regulatory framework for the formation and management of private equity funds.3. Colombia represents 1%
of total resources raised in Private Equity Funds and
Venture Capital in Latin America, with Latin America
representing 5% globally.4. There are 38 funds with a
committed capital of more than USD 3.7 billion, which represents a
major alternative source of financing for Colombian businesses.
5. There is an excellent opportunity to secure local capital resources from institutional
investors such as pension funds and insurance companies, which have performed outstandingly in recent years.
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· The National Government plans to increase investment to US$10 billion in 2014 and US$30 billion in 2021.
· Colombia is the country with the third largest infrastructure needs in Latin America. It has 250 km of paved road network per million inhabitants, while countries like Chile have 1,000 km.
· According to BP, Colombia was the sixth biggest world coal producer in 2012, with an international export handling requirement of 110 million tons per year.
AIRPORT INFRASTRUCTURE
· In 2014 passenger numbers will increase from 23.4 to 30 million.
· In 2014 works will be completed at the El Dorado terminal and a new control tower
will be built.
· By mid-2013, new airports will be built in Cartago, Armenia, Neiva, and Popayán and the
license to operate the Ernesto Cortissoz airport in Barranquilla will be re-awarded.
· Civil works at Cali Airport and structuring of the new airport in Ipiales.
· Central Railway System: 1,045 km. Project currently being structured to initiate a public tender process.
· El Carare Train Concession: 460 km, construction of second line on the Atlantic Railway Network (45 km La Loma - Ciénaga).
Source: National Infrastructure Agency. ANI
OPPORTUNITIES
· The National Government aims at increasing forecast investment to US$1.1 billion in 2014 and US$1.7 billion in 2021.
· The Ministry of Transport has been implementing a program called Roads for Prosperity to improve 50,000 km of the tertiary road network over a four-year period.
· The Colombian government plans to have 5,200 km of dual carriageway in place by 2021.
RIVER AND PORT PROJECTS · Project to improve navigability and cargo transport on the River Magdalena.
· Orinoco Corridor: Meta – Orinoco – Atlántico.
· Amazon Corridor: Putumayo – Amazon – Atlántico.
· Construction of 1 New Port in Dibulla (Guajira) and 2 new ports between Ciénaga and Santa Marta.
· Expansion of new container ports in Cartagena and increased oil export capacity via the Ecopetrol port in
Coveñas.
· Deepening of the Buenaventura access channel is currently underway and will shortly be followed by a deepening of the Cartagena access channel.
ROAD INFRASTRUCTURE
RAILWAYS
MOTORWAYS FOR COMPETITIVENESS
AIRPORTS
PORTS
RAILWAYS
Ruta Del Sol(Sectors 1, 2 and 3)
Airports Under License
Ports
Central Railway System
Atlantic Railway Network
Highland Railways
El Carare RailProject
Pacific Railway Network
North-East AirportsCoffee Triangle Airports
Americas – Sector 1
Autopista de la Montaña Motorway
Buenaventura - Bogota – Cucuta Corridor
Source: ANI.
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BENEFITS · Low freight charges compared with other
countries in the region for general transport of goods to markets in North America, South
America, and Central America. · Approximately 1,000 cargo flight frequencies.
· Third most important market in Latin America. · Thanks to its trade treaties, Colombia has preferential access
to 1,500 million consumers.
· The privileged position of Colombia, with coastlines facing the Pacific Ocean and the Atlantic Ocean and
as a gateway to South America, enables it to have connections with the world’s main ports and
production and distribution centers. · Creation of logistics platforms
(transshipment platforms). · Creation of dry ports.
· Creation of an infrastructure that will allow for multimodal transport. · Improvement of cold chain (division of cold, dry, and frozen foods increase in capacity of sorticontainers). · Introduction of information systems to enable real time monitoring of loading and unloading of goods (at certain ports). · Thanks to its trade treaties, Colombia has preferential access to 1,500 million consumers.
· International cargo market of 120 million tons (seaports only).
· Local cargo market of 160 million tons, and an air cargo market of 680,000 tons.
· 75% of the world’s largest distribution companies have access to the service ports handling Colombian imports and exports.
· Over 80% of foreign trade, in volume and value, is concentrated in 5 cities and their service areas, but the country has one of the longest average distances between centers of production and consumption.
· Coal and fuel account for 75% of the country’s volume of foreign trade. Excluding these, 81% of the value of trade is handled in containers, the rest in dry bulk.
· 47% of cargo handled in the 4 main port cities (Buenaventura, Santa Marta, Cartagena, and Barranquilla) consists of containers, the main port being Cartagena. 22% is coal, mostly handled by Santa Marta, and 20% is solid bulk.
Sources: · National Planning Department.
· Conpes – National Logistics Policy (2008). · Port Supervision Authority. · Ministry of Transport. · Regional Port Authorities. · Invias.
OPPORTUNITIES
Policy (2008).
TYPES OF LOGISTICS PLATFORMS
Urban distribution and cargo consolidation logistics areas
Support at border logistics areas
Regional cargo consolidation logistics areas
Port Logistic Actitivity Zones (LAZ)
Dry ports
Riohacha
MaicaoValledupar
Sta. Marta
Barranquilla
Cartagena
Monteria
Turbo
BarrancabermejaMedellin
ManizalesPereiraArmenia
IbagueBuga
Neiva
Cali
TumacoPasto
Ipiales
Popayan
Buenaventura
Sincelejo
Cucuta
Bucaramanga
Pto Berrio
Tunja
Bogota D.C.
Multimodal platforms
Air cargo centers
Source: CONPES.
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CUSTOMIZED INFORMATION
CONTACTS WITH THE PUBLIC AND PRIVATE SECTORS
AGENDAS: ORGANIZATION AND ASSISTANCE WHEN VISITING COLOMBIA
ATTENTION TO THE ESTABLISHED INVESTOR
FREE AND CONFIDENTIAL: EVERY SERVICE IS FREE AND THE INFORMATION SUPPLIED IN THE PROCESS IS HANDLED CONFIDENTIALLY
PROEXPORT COLOMBIA INVESTOR SERVICES PROEXPORT COLOMBIA is the organization in charge ofpromoting Colombia as an international tourist destination, attracting direct foreign investment and fostering non-traditional exports.Through our national and international office network, weprovide support and comprehensive assistance to national entrepreneurs, through offering services with the aim of facilitating the design and execution of its internationalization strategy, seeking the generation and tracking of business opportunities.We foster international business through the identification of market opportunities, the design of penetration strategies, the internationalization of companies, assistance in the design of action plans, contact between entrepreneurs
in sales promotion, investment and international tourism activities; the specialized services offered to foreign entrepreneurs who are interested in acquiring Colombian goods and services or investing in Colombia, and the creation of alliances with private and public, national and international entities, enabling us to broaden the availability of resources in order to support the various corporate initiatives promoted by the organization for the development and improvement of its service portfolio.
Our network of sales promotion offices helps us to provide a wide array of services, both for Colombian exporters international buyers and foreign investors.
EXPORT PORTFOLIO
COLOMBIA COLOMBIA COLOMBIA» Plans for business colaboration
with exporters.» Commercial Information and
adequate supply (Centros de Información, DEI and Cooperation).
Buyer mission.
COLOMBIA AND OVERSEAS
COLOMBIA AND OVERSEAS
» Buyer mission.» Business networking.» International fairs.
» Technical and commercial missions.» Showrooms.
» Webpage for exporters and buyers
ABROADABROAD
ABROAD
» Trade agenda.» Exporters mission.
INVESTMENT PORTFOLIO
» Seminars for established investors.» SIFAI (Encouraging and facilitating
investment system).» Regional level articulation and promotion.
» Preparation of tailor made information.» Coordination and development of
investment agendas.» Contact with key private and public
sector entities.
» International Seminars and Events.
TOURISM PORTFOLIO
» Business colaboration» Plan–Exporter projects.» Institutional Projects.
» Special Projects.» Business events.
» Particular promotion activities.
» Business collaboration promotion Plans – with operators.
» Workshops, destination presentations, and international
fairs.» Familiarization trips / media
Tourism Portal.» Institutional added value presence
(activations).
COLOMBIA AND OVERSEAS
www.colombiatrade.com.co www.colombia.travelwww.investincolombia.com.co
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SUPPLY VS.DEMAND ANALYSIS
Website: www.investincolombia.com.co
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· Tailor-made information· Agenda coordination for investors· Comprehensive workplan with journalists and
opinion generators
- Identifying / linking projects with national and regional support.
- Cooperate with regional entities.
- Support for established investors. Implement expansion plans (re-investment, exports, corporate tourism).
- Detect obstacles and refer concerns to relevant parties.
- Provide support to established foreign investors.
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Car
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COLOMBIA
INDONESIA
Montreal,Toronto.Vancouver
CANADA
UNITEDKINGDOM
JAPAN SOUTH KOREA
CHINABeijing ,Shanghai,
FRANCE
SPAIN
GERMANY
RUSSIA
TURKEY
UNITED STATESSan Francisco, Miami, Los Angeles, Washington D.CNew York, Houston, Atlanta, Dallas. Chicago
MEXICOMexico City, Guadalajara.
NORTH TRIANGLE (Guatemala, Honduras, El Salvador)
COSTA RICA (Panama).
ECUADOR
PERU
CHILE
CARIBBEANPto.Rico, Dominican RepublicTrinidad and Tobago
VENEZUELA
ARGENTINA
BRAZIL UNITEDARABEMIRATES
INDIA
PORTUGAL
PROEXPORTIN THE WORLD
For more information aboutthe investment opportunities in
Colombia please contact:
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INV
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OMBIA
AND OPPORTUNITIES: WHEN INVESTING,
GROWTH, CONFIDENCE,
Libertad y Orden
CANADATorontoMontrealVancouverUNITED STATESMiamiWashingtonNew YorkAtlantaTexasLos AngelesChicagoMEXICOMexico CityGUATEMALACOSTA RICAECUADORPERUCHILEARGENTINABRAZILVENEZUELAPANAMACARIBBEANPuerto RicoTrinidad and TobagoDominican RepublicGERMANYUNITED KINGDOMFRANCEPORTUGALSPAINTURKEYRUSSIAUNITED ARAB EMIRATESINDIASINGAPORECHINABeijingShanghaiSOUTH KOREAJAPANINDONESIACOLOMBIA
[email protected]@[email protected]
[email protected]@[email protected]@[email protected]@[email protected]
[email protected]@[email protected]@[email protected]@[email protected]@[email protected]@[email protected]@[email protected]@[email protected]@[email protected]@[email protected]@[email protected]@[email protected]@proexport.com.co
[email protected]@[email protected]@[email protected]@proexport.com.co
PROEXPORT DIRECTORY
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