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From all perspectives, Colombia is your
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material, the Passion of Colombians
www.colombiaespasion.com
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
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
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
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
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
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
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
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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
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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
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
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.
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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.
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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
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 %
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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.
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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
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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
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