GROWTH, CONFIDENCE AND OPPORTUNITIES TO INVEST

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1 GROWTH, CONFIDENCE AND OPPORTUNITIES TO INVEST AUTOMOTIVE INDUSTRY Colombia meets all the right conditions to be an significant player in vehicle production worldwide, and the country could have a solid and efficient automotive industry that generates high-quality jobs. Juan Manuel Santos, PRESIDENT OF THE REPUBLIC OF COLOMBIA PRODUCTION AND MARKET COMPOSITION The country has a vehicle fleet of approximately 4 million units. ANDI, (Asociacion de Empresarios de Colombia [Colombian Business Owners Association]), Colombia is the fourth greatest producer of vehicles in Latin America, with more than 140,000 units assembled per year. ACOLFA,2014. In Colombia there are 84 automobiles for every thousand inhabitants. World Bank, L ib ertad y O rd e n Colombia can boast the presence of recognized assemblers such as: Renault, General Motors, Mazda, Toyota-Hino, Busscar and Superpolo..

2 AUTO PARTS MARKET UNDER DEVELOPMENT AND WIDE RANGE OF PROVIDERS OF ORIGINAL AND SPARE PARTS Production in auto parts sector has doubled over the last ten years. Most of national production corresponds to parts and accessories not classified for gearboxes, automobile rims and vehicle axles or drivetrains. Exports of auto parts to Venezuela have fallen rapidly since This reduction has been compensated for by growth in auto parts exports to Ecuador, Peru, Chile, Argentina and Panama. COLOMBIAN EXPORTS OF AUTO PARTS , USD MILLIONS Source: ACOLFA. The main destination for Colombian exports of auto parts is Ecuador, with approximately 27.7% of total exports. Imports of auto parts into the country have grown 9.8% per year, especially imports from Free Trade Zones, which have tripled over the last 10 years. While imported auto parts represented 10.4% of the country s total imports in 2003, this figure reached 26.8% in On the other hand, exports have been maintained at levels close to 500Billion dollars over the last 5 years. AVAILABILITY OF QUALIFIED HUMAN CAPITAL AT COMPETITIVE COSTS FOR THE AUTOMOTIVE INDUSTRY 23,076 graduates have entered the automotive and other related industries, between technicians and professionals. Labor Observatory, Colombia is below Brazil, Mexico and Chile in hourly salaries for in the manufacturing industry, with USD $3.2; USD $5.3; USD $3.8; and USD $3 respectively. Euromonitor, The Center de Desarrollo Tecnológico de la Industria Automotriz [Technological Development Center of the Automotive Industry] (CDTIA-TECNNA) is a non-profit organization specializing in the productive chain within the Automotive Sector. It was promoted by the Colombian Government (Ministry of Trade, Industry and Tourism, the Productive Transformation Program, and the Administrative Department of Science, Technology, and Innovation) and created by companies associated with ANDI and ACOLFA (Asociación Colombiana de Fabricantes de Autopartes Colombian Association of Automotive Parts Manufacturers]) with the aim of consolidating the Colombian vehicle industry as a world class regional competitor in certain segment. NUMBER OF GRADUATES IN AREAS RELATED TO THE AUTOMOTIVE INDUSTRY Source: Ministry of Education. The data corresponds to graduates in Mechanical Engineering, Industrial Engineering, Electronic Engineering and related fields. Technician Postgraduate Technological Undergraduate

3 INCREASE IN DEMAND AND SALES IN THE SECTOR Vehicle exports from Colombia has grown six fold since 2009 in terms of the number of units. Between 2012 and 2013 vehicle exports grew 65%. ACOLFA, 2014t. Sales exceeded 290,000 units for the third consecutive year. ANDI, Chevrolet, Renault, Hyundai, Kia and Nissan generated 64.6% of total vehicle sales in the country during 2013, with 190,141 units. ANDI, Constant growth in consumption is predicted in the medium term, capable of reaching an annual market of 400,000 units on average in upcoming years. DEMAND FOR VEHICLES IN COLOMBIA ASSEMBLED IMPORTED TOTAL Source: DANE (Departamento Administrativo Nacional de Estadística [National Administrative Department of Statistics]), 2013

4 COLOMBIA AS A VEHICLE EXPORT PLATFORM The reduction in customs duties has not created a massive influx of vehicles into the country, showing that the Colombian industry is prepared for greater competition. BBVA Research, Growing local demand in countries like Brazil and Mexico has reduced their capacity to meet the demand in other countries in the region, allowing exports from the country to reach new markets. PROJECTS THAT IMPACT THE AUTOMOTIVE INDUSTRY The trend in the automotive industry worldwide is the relocation of productive units of the OEM s to emerging markets. The development of an automotive production cluster in Colombia, mainly in the Pacific region, will permit organizing the productive chain to achieve logistic and scaling advantages for exporting vehicles and auto parts. The unification of the mass transit system in Colombia s main cities (Bucaramanga, Cartagena de Indias, Medellin, Cali and Pereira, among others) will mean an increase in new vehicle purchases. It is estimated that 18,000 buses will be taken out of circulation, to be replaced by 5,600 new units.. BBVA Research, New demands incurred by development in the mining and energy sectors and the logistics needs of free trade agreements are creating incentives for the acquisition of new heavy load vehicles, given that 72% of all transportation in Colombia is by land. Colfecar (Federación Colombiana de Transportadores de Carga [Colombian Cargo Transporters Federation]), 2012.t. In 2013, 131 million tons of cargo was transported by land. It is expected that transportation of cargo by land will increase with the free trade agreements entrance into force, generating an increase in the demand for commercial vehicles. Colfecar, Colfecar, 2014.

5 COLOMBIA, A COUNTRY WITH MULTIPLE DEVELOPMENT HUBS CUNDINAMARCA Bogota is the main center for the industry, with 5 of the 7 assembly plants in the country*. Bogota has the biggest fleet of vehicles nationwide. In 2010 there were more than one million private automobiles in circulation, representing approximately 23% of the country s fleet of vehicles*. Between 2002 and 2011 the number of private vehicles in Bogota increased by 146%*. 70% of the national production of auto parts is concentrated in Bogota.. *Invest in Bogota, VALLE DEL CAUCA Opportunities for assembling buses, trucks and light vehicles. Access to CKD material from Asia via its Pacific port. Development of the Cali-Transcali mass transit system. Opportunities in manufacturing parts for the Interior Trim segment for vehicles and electronic components segment. CULTURAL COFFEE LANDSCAPE: Opportunities for assembling buses, trucks and light vehicles. Development of a mass transit system in Pereira (Megabus). Regime for competitive incentives: Pereira Free Trade Zones. Functional metalworking cluster. Opportunities in manufacturing parts for the Interior Trim segment for vehicles and electronic components segment. CARIBBEAN: Opportunities for assembling buses, trucks and light vehicles*. Three Free Trade Zones with all the necessary technological facilities at excellent costs*. More than 60% of industrial employment in the Caribbean Region is concentrated in Barranquilla, with more than 1,375,000 people*. Port of entrance for CKD material coming from Europe and North America*. More than 25 seaports, river ports and airports with the ability to transport all types of cargo*. Around 20 institutions for technical, professional and specialized training, offering qualified human resources*. *Pro Barranquilla, 2012.

6 LARGE FOREIGN COMPANIES HAVE CHOSEN COLOMBIA AS A PLACE TO INVEST General Motors-Colmotores. Hero. Baterías MAC y Jhonson Controls. The U.S. company General Motors invested USD 200 million in its industrial Free Trade Zone to construct a stamping/ cutting and folding plant. The Indian company, a world leader in the manufacture of motorcycles, will commercialize its products and open a plant in the Colombian market with the goal of taking advantage of the country as a platform to reach the United State. The leading company in battery production in the region of Valle de Cauca has established a Joint Venture with the U.S. company Johnson Controls, the main producer of batteries worldwide.

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