CAPTURE THE OPPORTUNITY IN COLOMBIA

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1 CAPTURE THE OPPORTUNITY IN COLOMBIA BUSINESS SWEDEN June 2015 Bogota

2 COLOMBIA AMONG THE FASTEST GROWING ECONOMIES IN THE REGION EXECUTIVE SUMMARY Colombia has a privileged geographical location between Central and South America thus easily functioning as a connecting hub between numerous markets. The economy has been growing at stable rates on average 4% of GDP growth in the past 6 years. In 2014, Colombia was the second fastest growing economy in the region at 4.6% in terms of GDP growth, right after Panama with 6.2%. Construction was the fastest growing sector in the Colombian economy stimulated by several governmental development programs. Colombia ranked first in South America in regards to ease of doing business after a leap of 19 places between 2014 and The main advances were made in registering property and obtaining credit. The overall safety in the country has improved in the past 8 years. Peace talks between the government and leftist guerrillas started in BUSINESS SWEDEN IN COLOMBIA Business Sweden s office in Colombia has broad knowledge of the Colombian market and in particular within industries of significant interest to Swedish companies. Our staff has extensive experience in promoting Swedish- Colombian business relationships and growth. In recent years, we have supported business activities to promote Swedish companies in the most dynamic sectors in Colombia such as healthcare, transport systems, infrastructure and energy. Colombia is an important player in Latin American economy with lucrative opportunities for investment and market development in the above sectors and will continue to be one of the fastest growing economies in the region. Erik Alarik Country Manager, Colombia BUSINESS SWEDEN 14 AUGUST,

3 COLOMBIA RANKED FIRST IN SOUTH AMERICA IN REGARDS TO EASE OF DOING BUSINESS - OVERALL INTERNATIONAL RANK 34 IN 2015: CHANGE SINCE SPOTS EASE OF DOING BUSINESS (INDEX VARIABLES, COMPARISON 2014 TO 2015) Getting Credit Resolving Insolvency Registering Property Construction Permits Starting a Business Getting Electricity Trading Across Borders Paying Taxes Enforcing Contracts COLOMBIAN BUSINESS CULTURE The Colombian business climate has benefited due to pro-business regulatory reforms that have reduced the red tape, increased openness to foreign trade and investment, and improved macroeconomic stability Some aspects weighing on competitiveness are high total tax rates, generally weak infrastructure and the relatively poor quality of the educational system Colombia s capacity for innovation remains limited, which adversely impacts productivity levels MAJOR ADVANCES WERE MADE IN REGISTERING PROPERTY AND GETTING CREDIT The country has open policies towards trade (several FTAs) and foreign direct investment (FDI) Major improvements in violence and corruption have taken place over the last decade providing increased stability in the country. Peace process is in progress SOURCE: DOING BUSINESS WORLD BANK BUSINESS SWEDEN 14 AUGUST,

4 MAIN POLITICAL AND ECONOMIC EVENTS The National Front is created and the two main political parties Conservatives and Liberals intercalate for a period of four presidential terms Drug trafficking crisis High levels of insecurity 1991 Constitution recognized gender equality and basic human rights Initiation of peace dialogues with leftist guerrillas FTA with the United States FTA with the European Union Military coup Creation of leftist guerrillas Liberal economic policies Trade liberalisation Aggressive measures aggainst guerrillas Focused efforts to increase security and international confidence Significant economic growth Mining and energy boom SOURCE: BANCO DE LA REPUBLICA, SEMANA BUSINESS SWEDEN 14 AUGUST,

5 REGIONAL HUB FOR INTERNATIONAL TRADE North America GDP: billion USD* Population: million** Latin America & the Caribbean GDP: billion USD* Population: 660 million** ABLE TO TRADE WITH LARGE MARKETS AS UNITED STATED, BRAZIL AND MEXICO *2013 DATA **FORECAST 2025 SOURCE: WORLD BANK BUSINESS SWEDEN 14 AUGUST,

6 INVESTMENT OPPORTUNITIES INVESTMENT GEARED MAINLY TO TRANSPORT AND HEALTHCARE SINCE THE OIL AND MINING SECTOR IS STAGNANT Investment in Colombia Hotel and Tourism Infrastructure Fruits Biofuel Forestry Oil Services Airport Cosmetics BPO Services IT Services Autoparts Antioquia Valle del Cauca Caribbean Coffee Triangle Free trade zone Apparel and Textile Port Santander Bogotá Cundinamarca Shrimp Farming SOURCE. PROCOLOMBIA, MAPA DE OPORTUNIDADES DE INVERSION EN COLOMBIA East Central Zone* The oil and mining sector experienced a boom between 2008 and 2014, unclear panorama for the coming years The opportunities are concentrated to the north and central part of the country Foreign Direct Investment in hotel and tourism infrastructure has increased 235% in the last 4 years ( ) as a result of governmental incentives The number of vehicle units exported from Colombia has risen fivefold since 2009 after several assembling companies establishing in the country Colombia is the fifth largest market for cosmetics in Latin America. Sales increased at an average annual rate of 6.9% between 2000 and 2013 * CITIES: ARAUCA, FLORENCIA, LETICIA, MOCOA, PUERTO CARREÑO, SAN JOSE DEL GUAVIARE, VILLAVICENCIO AND YOPAL BUSINESS SWEDEN 14 AUGUST,

7 INFRASTRUCTURE AND TRANSPORT ARE CRUCIAL ENGINES TO DRIVE THE COLOMBIAN ECONOMY THE GOAL OF THE GOVERNMENT DEVELOPMENT PLAN IS TO CREATE CONNECTIVITY AND INCREASE COMPETITIVENESS 4G infrastructure agenda: total investment of 17 MUSD Investment in roads, ports, airports and railways Attractive market 8 000km of roads are going to be constructed and transformed Increased use of sustainable transport systems Colombia is investing in infrastructure and transport. These key sectors for the development of the economy will catalyse productivity of the country HISTORICAL LEVELS OF INVESTMENT IN INFRASTRUCTURE WILL TAKE PLACE IN THE COMING 5 YEARS SOURCE: ANI, MINISTRY OF TRANSPORT BUSINESS SWEDEN 14 AUGUST,

8 COLOMBIA S STABILITY ATTRACTS FOREIGN COMPANIES COLOMBIA HAS NUMEROUS FREE TRADE AGREEMENTS WITH PARTNERS ALL OVER THE WORLD Year Trade agreements in effect Open to trade and foreign investment Improved macroeconomic stability Colombia is the fourth largest economy in Latin America Colombia Open to Trade Important investments in infrastructure Emerging economy with a democratic government Logistical operation costs are high (inadequate infrastructure) 2013 FTA with the European Union 2012 FTA with the United States 2012 FTA with the Pacific Alliance* 2011 FTA with EFTA** FTA with El Salvador- Guatemala- Honduras FTA with Chile 2004 CAN***- Mercosur 1995 FTA with Mexico SOURCE: PRESIDENCIA DE LA REPUBLICA DE COLOMBIA, INTER-AMERICAN DEVELOPMENT BANK, WORL BANK, *PACIFIC ALLIANCE-MEXICO, CHILE, PERU, COLOMBIA **EFTA: EUROPEAN FREE TRADE ASSOCIATION, ***CAN TRADE BLOC OF BOLIVIA, COLOMBIA, ECUADOR AND PERU BUSINESS SWEDEN 14 AUGUST,

9 IN THE LAST THREE YEARS, COLOMBIA'S FDI HAS INCREASED FIVEFOLD THE INFLOW OF FOREIGN DIRECT INVESTMENT Million USD FDI IN COLOMBIA Between January and September 2014: United States, Spain and Switzerland concentrated the 40% of the FDI flow Spain, Peru and Canada were the countries with the highest growth of FDI Sectors other than mining and energy represented 54.3% of the FDI in Colombia LARGEST SECTORS OF FDI INFLOW Construction Electricity, gas and water supply Transport Logistics Communications SOURCE: PROCOLOMBIA BUSINESS SWEDEN 14 AUGUST,

10 SOME OF THE LARGEST SWEDISH COMPANIES ARE PRESENT IN COLOMBIA BUSINESS SWEDEN 14 AUGUST,

11 CONTACT US BUSINESS SWEDEN IN COLOMBIA Business Sweden Calle 71 No Oficina 501 T

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