Investment Booklet 2009 - Proexport

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    Investment Booklet 2009 - Proexport - Presentation Transcript

    1. Pub shin ompa y Publishing Company: ub u hing ompany F d c lde Fi e co is r expor Colombi Fiducoldex – Fideicomiso Proexport Colombia d de com expo x o ort lombi or o b Fo e g nvestment Foreign Investment Office or nv stm vestm stmen ce info nversion@p o xpo t com.co infoinversi n@proexport.com.co nfoi e ion@pro @p oex @ oe m co Publis : Pu lisher: ubli Strate c ppo Dir tion Str tegic Suppor Directi Strategic Support Di ection p Ph Phone Number 57 1 56 0100 ax: +5 1) 341568 Phone Nu ber: +57 (1) 5600100 – Fax: +57 (1) 3415689 Nuum 0 34 568 6 Cover De ign ancho BB Cover Design: Sancho BBDO v e gn nc BBD Pr nt in: Offse G Printed in: Offset Grafico r te ri t n: Offset et B ota Bogota D C., C Bogota D..C., Colombia – July 2009 b Jul u ul The The dig v sion th document ca The d gital version of thi document can be found at: h his cum umen foun at: ound t: un n www estinco ombia com.co wwww.invest colom ia. omb omb m co o From all perspectives, Colombia is your investment destination because in everything we create we use the best raw material, the Passion of Colombians www.colombiaespasion.com 2
    2. 1. IMPROVED BUSINESS ENVIRONMENT / PAGE 4 2. WIDE PERCEPTION OF CONFIDENCE IN COLOMBIA / PAGE 7 3. COMPETITIVE ADVANTAGES MAKE US YOUR IDEAL EXPORT PLATFORM / PAGE 8 4. COLOMBIA’S BEST ASSET IS ITS HUMAN CAPITAL / PAGE 11 5. ATTRACTIVE INCENTIVES FOR INVESTORS / PAGE 12 6. QUALITY OF LIFE / PAGE 13 7. INVESTMENT OPPORTUNITIES / PAGE 14 3
    3. 1. IMPROVED BUSINESS ENVIRONMENT Historically, Colombia has shown outstanding economic stability. Over the last 30 years, Colombia has shown a trend of positive GDP growth and has been the least volatile country in the region. Furthermore, Colombia’s economic expansion has been higher than most other Latin American countries. During the past five years, the Colombian economy grew by 4% per year. In 2008, Colombia’s GDP registered an increase of 2.5%, a positive growth during global recession. “Colombia will emerge in reasonably good shape after the crisis” Nouriel Roubini, 2009 Volatility and GDP Growth in Latin America (1970-2008) 5% Source: World Bank Statistics (1970-2007, WB) and Economist Intelligence Unit (2008, EIU). Paraguay Chile Colombia Ecuador Brazil 4% Mexico Average Average GDP Growth Peru 3% Bolivia Venezuela Argentina Uruguay 2% 2% 3% 4% 5% 6% 7% Standard Deviation of GDP Growth In only six years, FDI grew 400%, exports 215%, and international tourism 120% Exports have increased since 2002, growing from USD 12 billion to USD 37 billion. Foreign Direct Investment (FDI) has also grown significantly in the last decade. In 2002, Colombia received FDI flows of USD 2.1 billion while in 2008 the FDI flows increased to USD 10.6 billion, the largest value registered in Colombia’s history. The number of tourists that visited Colombia has doubled since 2002, from 661 thousand travellers to 1.45 million in 2008. Between 2007 and 2008 the number of tourists grew by 9.73%, five times more than the overall world growth of 2%. 4
    4. Foreign Direct Investment (2000-2008) USD Million Increase (2002-2008) 400% Exports (2000-2008) USD Million 215% Tourism (2000-2008P) Million Travellers 120% Source: Central Bank (Banco de la Republica, Balance of Payments), National Statistics Administrative Department (DANE, National Accounts). Note: (P) Preliminary. 5
    5. Colombia, the country with the best perspectives in Latin America Colombia is the Latin American country which will be least affected in terms of FDI, exports and tourism. Foreign Direct Investment Exports Tourism 2008 2009 (%) 2008-2009 (%) # 2008 2009 (%) 2008-2009 (%) # 2008 2009 (%) 2008-2009 (%) # Colombia Colombia lomb -21.9 21.9 1 -13.2 13.2 1 13.0 0 1 Brazil -39.3 3 -19.4 2 -8.3 6 Mexico -36.5 2 -28.6 4 -6.9 4 Chile -46.1 5 -41.5 6 6.0 3 Argentina -51.6 7 -26.7 3 -22.1 7 Peru -50.8 6 -31.6 5 8.0 2 Venezuela -42.2 4 -55.5 7 -7.6 5 Source: Official sources from each country. Observed variations in the exports FOB value, the FDI inflows and the number of foreign visitors between Jan-Mar 2008 and Jan-Mar 2009. Several reasons why Colombia emerge in reasonably good shape after the World recession • External debt as percentage of GDP went from 35% in 1998 to 19% in 2008. • Incomes of the Current Account in the Payment Balance cover 81% of the foreign debt value. • The current account deficit is completely covered by Foreign Direct Investment (FDI). • The Financial Sector shows high profitability. • The quality of the finance portfolio is at its lowest historic level. • The coverage of the expired debt portfolio (120.5%) suggests that the sector maintains important reserves in case of an eventual downfall. • The Central Government deficit has been continuously reduced from 5.3% of the GDP in 2002 to 2.6% of GDP in 2008. Source: Ministry of Treasury and Public Credit (2009). 0 “Colombia has a sustained record of sound economic policies, and has very strong economic fundamentals and institutional and policy frameworks. The Colombian authorities’ have responded appropriately to the global financial crisis, and have demonstrated a commitment to maintaining this solid record.” IMF Managing Director Dominique Strauss-Kahn, 2009 6
    6. 2. WIDE PERCEPTION OF CONFIDENCE IN COLOMBIA 53 Colombia 26 The Latin American leader in reforms which facilitate business 62 Peru 3 81 Panama 0 In the 2009 “Doing Business Report,” The World Bank -3 109 Uruguay improved Colombia’s business environment ranking. Colombia has been recognized in recent years as a “Top -4 150 Bolivia Reformer”. From 2007 to 2009, Colombia improved 26 -10 56 Mexico positions, reaching 53rd in the ranking of 181 countries. This -12 136 Ecuador makes Colombia the Latin American country to generate the -12 113 Argentina greatest number of reforms to facilitate business and the -13 40 Chile second better ranked country in Latin America. -13 174 Venezuela -19 125 Brazil -45 115 Paraguay -50 -40 -30 -20 -10 0 10 20 30 Change in Rankings for Ease of Doing Business (2007-2009) Source: Doing Business 2008 and 2009 Database. Recent multimillion dollar investment projects in Colombia Telefonica (Spain) (2009) Investment: USD 180 million Expanded its operation. Globant (Argentina) (2009) Investment: USD 23 million Established a firm that provides IT and Software services Votorantim (Brazil) (2008) Investment: USD 1,500 million Acquired 52% of Acerias Paz del Rio and is planning on building a steel production plant in Barranquilla Endesa (Spain) (2008) Investment: USD 1,129 million Invested in renewable energy projects. Toyota Motors (Japan) (2008) Investment: USD 232 million Expanded its operations. Banco Bilbao Vizcaya Argentaria BBVA (Spain) (2008) Investment: USD 140 million Expanded its operations. Siemens (Germany) (2008) Investment: USD 46 million Invested in a high technology plant: motors, transformers and hearing aids. Source: Financial Times, FDI Markets, 2009. 7
    7. 3. COMPETITIVE ADVANTAGES MAKE US YOUR IDEAL EXPORT PLATFORM Fifth largest economy and third largest population in Latin America Colombia has the fifth largest economy in Latin America with a GDP of USD 242 billion1. A population of 44.5 million makes Colombia the third largest country in the region. In addition, 77% of Colombians live in urban areas. The country also enjoys a favorable strategic location with coasts on both the Pacific and Atlantic Oceans, offering access to markets in the US, Europe, Asia, Latin America and the Caribbean. Preferential market access to more than 1.2 billion consumers due to Free Trade Agreements (FTA) Colombia’s 2010 trade agenda includes 9 agreements with 45 countries. The government is committed to establish Free Trade Agreements with key strategic partner countries to generate better conditions for investment and trade. Some agreements include: In Force For orce Sign d Signed g In Negociation n Negociation g iati Andean Community n e n oomm Uni d tate f merica 200 United States of America (2006) European Union rop of Nat ations (sinc 1969) (since Honduras, Salvador and Guatemala (2007) av G-2 (since 1995) Canada (2008) a a 20 8 Mercosur (since 2005) o u nce EFTA (2008) 2 20 ) Chile (since 2009) Note: Andean Community of Nations (the Commercial Liberalization Program will continue to apply to Venezuela until April 22nd, 2011), G-2 (Mexico and Colombia), Mercosur (Argentina, Brazil, Paraguay and Uruguay), EFTA (Iceland, Liechtenstein, Norway and Switzerland). FTA Agenda (2010) 8 1 GDP at current prices of 2000 using the 2008 average Exchange rate: USD 1 = $1,966.26
    8. Double Taxation and Investment Agreements: in 2010, Colombia will be negotiating 24 International Investment Agreements (IIA) with 39 countries and 21 Double Taxation Agreements (DTA) with 22 countries Double Taxation Agreements (DTA) are designed to protect investors from being taxed twice when the same income is taxable in two States. International Investment Agreements (IIA) protect investors of each state from expropriation and discrimination before other national or foreign investors. Additionally, these treaties establish responsive procedures for dispute settlement between investors and the host country. IIA and DTA Agenda (2010) FINLAND ICELAND NORWAY BELGIUM UK SWEDEN IRELAND GERMANY BELGIUM CZECH REPUBLIC NEDERLAND LIECHTENSTEIN LUXEMBURG) FRANCE SWITZERLAND SOUTH KOREA CANADA SPAIN UNITED STATES JAPAN ITALY CHINA INDIA MEXICO HONDURAS EL SALVADOR ECUADOR PERU BOLIVIA DTA DTA + IIA IIA 9
    9. Strategic Location Air Transportation, Only 3 Hours and 40 Minutes Away from Miami The excellent, strategic location of Colombia makes for an unbeatable equidistant point for the markets of the continent, allowing for shorter transit times, faster delivery, and very competitive international cargo transport services. At just three or four days by sea, and about three hours by plane from principal points of entry to the United States, such as Miami and other cities in Florida, the advantage is clear; especially when compared to important South American countries like Chile, Brazil, and Argentina, who are two or three times further in terms of transit time, and countries in Asia or Europe which are noticeably much further. This represents lower costs and faster deliveries of immobilized capital for Colombian entrepreneurs when faced with international competitors, especially those within the region. Bogota is only 3 hours and 40 minutes from Miami, and only 5 hours and 30 minutes from Lima. The following table compares other flight times: Time zone, the same as New York and Miami Colombia is in the same time zone as several important cities in the United States and Latin America; Colombia is in permanent communication with Madrid due to a time difference of only six hours. Los Angeles Los Angeles g New York New York Miam Miami ami Houston Houston usto Mexi Cit Mexico City xico ity Santiago de Chil Santiago de Chile ntiag ile Buen Air Buenos Aires enos ires Madr Madrid drid -3 hours Same time Same time -1 hour -1 hour +2 hours +2 hours +6 hours 10
    10. 4. COLOMBIA’S BEST ASSET IS ITS HUMAN CAPITAL A entrepreneurial country, with a growing and flexible labor force Colombian managers are recognized by multinational companies as some of the most qualified in the region. Also, Colombia’s labor force compared with other developing and industrialized countries shows rapid growth; additionally, it is the most flexible labor market in Latin America. Entrepeneurship (0 = weak; 10 = strong) 3 Brazil Labor Force Growth 9 Colombia (Percentage Change) 15 Chile 18 Peru 5 Colombia 28 Venezuela 8 Venezuela 52 Mexico 25 Argentina 56 Argentina 27 Chile 29 Brazil 38 Peru Labor Market Flexibility (Index 0-100) 48 Mexico 1 2 3 16 Colombia 23.7 18 Chile 24.44 27 Argentina 34.81 41 Brazil 45.93 43 Mexico 47.78 46 Peru 48.15 57 Venezuela 79.26 20 40 60 80 100 Source: World Competitiveness Yearbook 2009 - International Institute for Management Development (IMD). 11
    11. 5. ATTRACTIVE INCENTIVES FOR INVESTORS The most competitive Free Trade Zone in Latin America: 15% Income Tax as well as the possibility to sell to local markets •. A single 15% income tax rate, allowing sales in the local market. •. No customs taxes (VAT and customs duties). •. VAT exemption for raw materials, inputs and finished goods sold from the national customs territory to industrial Free Trade Zone users. •. Exports made from Free Trade Zones to foreign countries (except Peru) benefit from international trade agreements. •. No customs taxes on machinery, related directly to the business operation which is imported from abroad and entered into the FTZ. Single Enterprise Free Trade Zone (SEFTZ): Investors can take advantage of the benefits provided by the Free Trade Zones even by locating out of a Permanent Free Trade Zone. Investors can sign Legal Stability Contracts with the Colombian Government In order to promote new investments and expand existing ones, the government provides investors the option to sign a Legal Stability Contract, securing key conditions for investment promotion. Companies must meet the following requirements: •. Minimum investment of USD 1,860,000. 2 •. Investors must pay a premium to the government equivalent to 1% of the investment. •. The period of the contract can last between 3 and 20 years. . Income Tax deductible expenses Among the deductions included are the following: •. 40% of the capital invested in the acquisition of productive real assets. •. 100% of the amount paid for industry and commerce, signs and billboards, and property taxes during the corresponding taxable year, as long as these are directly related to the taxpayer’s economic activity. •. 25% of the tax paid on financial transactions may be deducted, regardless of their relationship to the taxpayer’s economic activity. 2 The investment amount required to sign the Legal Stability Contract is calculated in Minimum Monthly Legal Wages (M.M.L.W.). This information is presented in dollars using USD 1 = COP $2,000 exchange rate and the minimum wage for 2009 is COP $49,900. For 2009, the M.M.L.W. as well as the exchange rate are subject to variations. 12
    12. Other Tax incentives by sector: exemption from Income Tax for 20 years in different sectors Income Tax exemptions are granted in various strategic sectors: • Tourism: income tax exemption for 30 years on building new hotels or refurnishing already existing hotels. • Eco-Tourism: Income tax exemption for 20 years beginning in 2003. • Late-Yield Crops: Income tax exemption on the use of oil, palm, rubber, cocoa, citrus trees and other lateyield crops planted between 2003 and 2013 and intended for exports. • Forestry: Income tax exemption on new forest and timber tree plantations and sawmills. • Publishing: Income tax exemption until 2013 for publishing companies of books, magazines, brochures, scientific or cultural collectible series. 6. QUALITY OF LIFE Investors coming to reside in Colombia will encounter a high quality of life • 26 high schools give the SAT Test, a key requirement to enter North American universities. • 19 high schools grant the International Baccalaureate Organization Diploma (IBO), an exam which allows students to access top universities worldwide. • 3 schools subscribe to the Baccalaureate. • 3 Colombian universities are among the top 30 universities in Latin America. • Top brand stores can be found in the most exclusive shopping centers in Colombia. Also, businesspeople can enjoy 45 year-round 18-hole golf courses in Colombia. Many of them have been design by famous golf course architects such as Jack Nicklaus and Mark Mahannah. 13
    13. 7. INVESTMENT OPPORTUNITIES The Ministry of Commerce, Industry and Tourism has developed the Productive Transformation Policy. This is based on two strategies: greater quantity and quality; and, the development of new and emerging sectors. These are designed to achieve sustained growth in both the economy and employment. After completing an analysis with the assistance of the private industry, some sectors were identified as offering unique business opportunities for investors and having government support in their development. Biofuels • Income tax exemption for ten years. • 6.5 million hectares (16.1 million acres) suitable for biofuel production. • World’s fifth largest palm oil producer. • Productivity of 9,000 liters of ethanol per hectare every year. • Growing market. For 2020, a production of 1.4 billion liters of ethanol and 1.2 billion liters of biodiesel per year. • Assured demand. In 2020, E20 and B20. • Creation of a “green seal” to identify the national biofuel production with good environmental and social practices. Cosmetics • Market of USD 2.6 million and production of USD 2.4 million. • Cosmetics exports grew by 23% between 2003 and 2007. • Country with the second largest flora biodiversity in Latin America. • Market for men’s cosmetics is expected to grow 20% per year. • Colombian women cosmetics pocket share duplicates the European women share. • More than 242,000 professionals and technicians available to work in the cosmetic industry. • Products with natural ingredients grew 9% between 2003 and 2008. IT Services • 27,000 business graduates and 13,000 engineering graduates per year. • Seven cities with more than 500,000 inhabitants. • Neutral Spanish accent. • Market: USD 1 billion, growing at a rate of 42% in three years. 14
    14. Tourism • 1.45 million foreign travellers visited Colombia in 2008. • Tourism growth to Colombia (9.73%) more than doubled the worldwide growth (2%) - 2008 data. • Income tax exemption for new or remodeled hotels. Medical Tourism: is the practice of travelling abroad to obtain healthcare services, generally at a small fraction of the cost in a person’s home country. • Pioneer Program in reproduction immunology; the first test tube baby born in Latin America; first pacemaker in the world. • Colombia is the second best country for scientific and health infrastructure in Latin America: (IMD, 2008). • 3,000 medical graduates per year. The Colombian doctor Salomon Hakim invented the Medium Pressure Valve for the treatment of hydrocephalus, also known as the Hakim Valve. Infrastructure: Projects that add up to more than 25 billion USD, just in 2009. COLOMBIA’S KEY STATISTICS 2008 GDP (USD Billion) 113.8 144.6 162.5 207.8 242.6 GDP Per Capita (USD) 2,023 2,392 2,488 2,999 3,211 GDP (Annual Variation in %) 4.7 5.7 6.8 7.6 2.5 Unemployment (%) 13.6 11.8 12.0 11.2 11.3 Exports (USD Billion) 16.8 21.2 24.4 29.9 37.6 Imports (USD Billion) 16.7 21.2 26.2 32.9 39.7 FDI (USD Billion) 3.0 10.2 6.4 9.0 10.6 Exchange Rate (vs USD End-Of-Period) 2,626 2,320 2,357 2,078 1,966 Inflation (%) 5.5 4.9 4.5 5.7 7.7 Population (millions) 42.4 42.9 43.4 43.9 44.5 Source: National Statistics Administrative Department (DANE), Latinfocus. GDP at constant prices of 2000. 15
    15. Foreign Direct Investment by Sector (1994-2008) TOTAL USD 63.8 Billion Source: Central Bank (Banco de la Republica). Agriculture 0% Community Services 1% Construction 2% Electricity, Gas & Water 6% 7% Retail, Hotels & Restaurants Transport 10 % Financial Sector 14 % Mining 18 % Petroleum 19 % Manufacturing 23 % Other 16 % Main Investing Countries (1994-2008) Canada 3% TOTAL USD 44.8 Billion Bermudas 4% Source: Central Bank (Banco de la Republica). Mexico 5% Anguila 5% Cayman Island 7% Virgin Islands 7% England 9% Panama 11 % Spain 12 % United States 22 % 16
    16. WORLD CLASS SERVICES FOR INVESTORS The Colombian Government creates favorable conditions and offers the best support for investors. Proexport occupied position 16 in the list of the best investment promotion agencies of the world and provides the following services to foreign investors: • Information requests (economic, sector specific information, legal, procedural, etc). • Contacts with public and private sectors. • Set up of agendas when investors decide to visit Colombia. • Aftercare services for investors that are already established in the country. • Assessment and improvement of business climate. All services are free of charge. The primary goal is to create an efficient and friendly process for the development of new businesses. All information will be handled with discretion. Proexport has Investment Promotion Teams in 21 cities around the World. We will be delighted to assist you. 17
    17. Proexport has Investment Promotion Teams in 21 cities around the World. We will be delighted to assist you. HEADQUARTERS Bogota, Colombia London, United Kingdom Calle 28 No. 13A -15, Piso 35 Colombian Government Trade Bureau Phone: +57 (1) 327-5454 / 560-0100 2 Conduit Street, 6th Floor Fax: +57 (1) 341-5689 London, W1S 2XB infoinversion@proexport.com.co Phone: +44 (207) 491-3535 Fax: +44 (207) 491-4295 OVERSEAS OFFICES Director: Juan Guillermo Perez gperez@proexport.com.co USA Investment Specialist: Carlos Andres Ruiz cruiz@proexport.com.co New York (North East), USA 140 East 57th Street, 2nd Floor Madrid, Spain New York, NY 10022 C/Claudio Coello, 8–40 Izquierda Phone: +1 (212) 922-9114 Madrid 28001 Fax: +1 (212) 922-9115 Phone: +34 (91) 577-6781 Investment Director USA: Sara Bojanini Fax: +34 (91) 577-9736 sbojanini@proexport.com.co Director: Juan Gabriel Perez jgperez@proexport.com.co Chicago (Midwest), USA Investment Specialist: Paola Garcia Phone: +1 (312) 316-2266 pgarcia@proexport.com.co Investment Specialist: Alejandro Tribin atribin@proexport.com.co Rome, Italy Via Pisanelli, 4 Miami (South East), USA 00196 Roma 601 Brickell Key Drive, Suite 608 Phone: +39 (06) 322-4400 Miami, FL 33131 Fax: +39 (06) 322-5798 Phone: +1 (305) 374-3144 Director in C.: Tatiana Mora Fax: +1 (305) 372-9365 tmora@proexport.com.co General Director USA: Jaime Echavarria jechavarria@proexport.com.co ASIA Investment Specialist: Sergio Rodriguez srodriguez@proexport.com.co Beijing, China Embassy of Colombia, Commercial Office California (West Coast), USA Guang Hua Lu 34 Phone: +1 (562) 217-9712 100600 Beijing investment Specialist: Alejandro Botero Phone: +86 (10) 6532-1969 abotero@proexport.com.co Fax: +86 (10) 6532-3377 Director: Alejandro Ossa EUROPE aossa@proexport.com.co Investment Specialist: Estella Sun Frankfurt, Germany esun@proexport.com.co Fürstenbergerstrasse 223 60323 Frankfurt am Main New Delhi, India Phone: +49 (69) 1302-3832 Embassy of Colombia, Commercial Office Fax: +49 (69) 1302-4719 3 Palam Marg, First Floor Director: Sergio Calderon Vasant Vihar scalderon@proexport.com.co New Delhi 110057 Investment Specialist: Juan Carlos Escallon Phone: +91 (11) 4166-2106 jescallon@proexport.com.co Investment Specialist: Alejandro Pelaez apelaez@proexport.com.co 18
    18. AMERICA Mexico City, Mexico Paseo de la Reforma # 379, Piso 6 Toronto, Canada Colonia Cuauhtemoc 2 Bloor Street West, Suite 1005 Mexico DF, CP 06500 Toronto, ON M4W 3E2 Phone: +52 (55) 5533-3760 Phone: +1 (416) 363-9225 Fax: +52 (55) 5525-0383 Fax: +1 (416) 363-0808 Director: Enrique Stellabatti Director: Rodolfo Moseres estellabatti@proexport.com.co rmoseres@proexport.com.co Investment Specialist: Ancizar Guerrero Investment Specialist: Juan Esteban Calle aguerrero@proexport.com.co jcalle@proexport.com.co Lima, Peru Santiago, Chile Av. Jorge Basadre 1580 San Isidro Av. Vitacura No. 3568, Of. 508 Phone: +51 (1) 222-1358 / 222-1359 / 222-1360 Phone: +56 (2) 953-5066 Fax: +51 (1) 222-2074 Fax: +56 (2) 953-5067 Director: Ismael Enrique Ramirez Director: Jorge Gutierrez iramirez@proexport.com.co jgutierrez@proexport.com.co Caracas, Venezuela Sao Paulo, Brazil Avenida Francisco de Miranda, Alameda Santos 1800, Andar 10B Edificio Parque Cristal, Torre Oeste, Sao Paulo, Brazil CEP 01418 200 Piso 5, Of. TOP-05-04 Phone: +55 (11) 3171-0165 Urbanizacion Los Palos Grandes Fax: +55 (11) 288-2614 Phone: +58 (212) 286-6333 Director: Carlos Eduardo Rodriguez Fax: +58 (212) 285-1235 crodriguez@proexport.com.co Director: Luis Fernando Fuentes Investment Specialist: Gloria Correa lfuentes@proexport.com.co gpapalardo@proexport.com.co Caribbean San Jose, Costa Rica 601 Brickell Key Drive, Suite 608 Oficentro la Virgen No. 2 Miami, FL 33131 Pavas San Jose Phone: +1 (305) 374-3144 Phone: +50 (6) 2213-4876 Fax: +1 (305) 372-9365 Fax: +50 (6) 2231-4933 Director: Carlos Gonzalez Director: Alvaro Gomez cgonzalez@proexport.com.co agomez@proexport.com.co Quito, Ecuador Guatemala City, Guatemala Av. 12 de Octubre 1942 y Cordero Boulevard Los Proceres 24-69 Zona 10 World Trade Center Edificio Empresarial Zona Prader, Torre 1 Of. 401 Of.1408, Torre A Phone: +502 (2) 269-6771 Phone: +593 (2) 222-2969 Fax: +502 (2) 269-6775 Fax: +593 (2) 250-4077 Director: Alvaro Concha Director: Nohora Vargas aconcha@proexport.com.co nvargas@proexport.com.co w w w. i n v e s t i n c o l o m b i a . c o m . c o 19
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