Colombia Presentation _ 5 Reasons Why_ ProColombia.pptx
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This document contains various charts and graphs about energy production and consumption in Colombia. A pie chart shows that hydropower makes up 46% of Colombia's total energy production, followed by natural gas at 30% and coal at 15%. Another pie chart breaks down Colombia's total energy consumption, with residential use making up 39% and transportation accounting for 23%. The document also notes that 73.2% of Colombia's energy comes from green sources and lists some of the major companies invested in Colombia's renewable energy sector.
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Colombia Presentation _ 5 Reasons Why_ ProColombia.pptx
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- 12. 12 Last updated: April 19 2022
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- 23. 23 ´ 73.2% of Colombian energy is green
- 25. 25 A C U M E N – U n i t e d S t a t e s J O H N L A I N G - U K E D F Y E D F - R E N E W A B L E S - F r a n c e A U V E R T - C a n a d a E - K A K A S H I - J a p a n
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Editor's Notes
- Colombia has the fourth largest economy in the region and stands out for being one of the most stable economies in Latin America. Its strength allowed it to capitalize 50 years of growth to face the crisis caused by the pandemic. In 2021 the Colombian economy accumulated growth was 10.6 % vs 2020 and it has exceeded the levels of 2019 (pre-pandemic) by 2.8%. According to the IMF’s April report, Colombia will grow 5.8% in 2022, above the projections for the region (2.5 %). The forecast for the following five years shows that Colombia’s economy will grow faster than markets such as Brazil, Mexico, and Argentina.
- Colombia offers an attractive domestic market of nearly 51 million inhabitants, being the 3rd largest country in Latin America. A large percentage of its population skews younger, which has boosted the domestic market and the workforce. Colombia differs from other countries by having several business development centers. The country has 15 cities with more than 500,000 inhabitants and 27 with more than 250,000. In addition, the country has 14 Biodivercities that are effectively and comprehensively incorporating local and regional biodiversity in their socioeconomic development
- Our country has multiple regions and business centers with a wide variety of sectoral needs. Therefore, investors can find several business opportunities across the country. Colombia has 5 main cities with more than 1 million inhabitants: Bogotá, Medellín, Cali, Barranquilla y Cartagena.
- The country has a large business network that supports the development of businesses and investments. This guarantees a reliable supply chain and the opportunity to find allies and clients. Also, every year more companies are created and continue to dynamize the business environment
- Thanks to our location and air and maritime connectivity, companies operating in Colombia connect efficiently with the main cities of the region and the world. We have 3,540 maritime export routes to more than 493 cities and more than 2,400 air routes that connect with more than 500 cities. Additionally, Colombia is located within 2 time zones of all major cities in the Americas which make us an excellent location for services exports.
- Colombia has 12 port areas in both the Caribbean and the Pacific. We connect in only 5 days with Port Everglades and Miami, with Shanghai in 25 days, and only 3 days with the Pacific Alliance (Callao). Our main port in the Caribbean, Cartagena Port, has been distinguished as the ‘Best Connected Port in Latin American Maritime Trade (UNCTAD). We also offer 14 international airports located throughout the country and connecting companies with the major cities of the region within 6 hours. Bogota is home to LATAM’s leading cargo and 3rd-largest passenger airport.
- Companies located in Colombia also benefit from the free trade zone regime which offers multiple incentives such as a one-time income tax rate of 20% (in the rest of the national customs territory it is 35% by 2022), the possibility of export from the Free Trade Zone to third countries, cross-border electronic commerce is allowed in free zones, combining it with the customs regimes of postal traffic and express shipments, among others.
- The regime includes two types of Free Trade Zones: permanent and single company (or special permanent).
- The network of trade agreements allows companies located in Colombia to access a market that represents 31.8% of world GDP, covering 97% of the countries in the region. In addition to the significant number of treaties, these stand out for advantages such as: USA: 96% of the subheadings that Colombia exported to the United States entered with a 0% tariff. Convenient rules of origin and regional content value Pacific Alliance: accumulation of origin, the PA allows intermediate goods and inputs from any country, free mobility of people MERCOSUR: Preferential access to the Brazilian market and deepens access in sectors such as textiles, clothing, metalworking, and vehicles CAN: Duty-free access to 100% of the products from Colombia and common regimes in customs matters, trade facilitation, among others
- The quality of products and services of Colombian origin have led various companies to settle in Colombia to supply the region from here. Some examples are: Teleperfomance: It opened its first headquarters in 2014 in Medellín and at the end of 2020 it had 28 offices in the country and more than 40,000 collaborators. It reports exports for more than USD $ 141 million to countries such as the United States, Mexico, Chile, among others. Baxter Laboratories: Installed in Cali, from Colombia they supply medicines for human use and medical instruments and devices to markets such as Chile and Brazil. Nestlé: located in Bugalagrande, Dosquebradas and Valledupar. Its main exported products: coffee derivatives, bakery and milling products, dairy products, among others. Main markets in the region: Peru, Mexico, Ecuador, Cuba and Chile Eternit (Elementia) Company of Mexican origin that manufactures and markets products for the construction industry with plants in Bogotá, Cali and Barranquilla Main exported products: 681181 (Corrugated plates that do not contain asbestos (asbestos) and 681182 (Other plates, panels, tiles, tiles and similar articles, that do not contain asbestos (asbestos)) Export markets: Panama, Ecuador, Peru, Barbados Likewise, the confidence generated by the Colombian product has led the country to position itself in the top of the supplier countries of various export products. For instance Second exporter of perfumes and toilet waters in Latin America and the Caribbean Main exporter of fungicides for Latin America and the Caribbean Main PVC exporter for Latin America and the Caribbean Second exporter of girdles in the world and the first in Latin America and the Caribbean Latin America's leading exporter of doors, windows and their frames Second exporter of lead electric accumulators (auto parts) Second Latin American exporter of Smart Cards Second exporter in Latin America of bars and solid profiles, of aluminum alloys The world's leading exporter of fresh carnations. Fifth largest banana exporter in the world 1st Doors and windows, sashes, unroasted coffee and roses 2nd tempered glass 3rd Polyvinyl Chloride and laminated glass plates
- Colombia encourages FDI throughout a friendly and safe environment to do business. Economic policies are framed by a dynamic and multiparty democracy and supported by strong institutions. There is political consensus around favorable policies to promote investments. Its democratic framework and institutions are strong and independent. International indexes such as the Index of Economic Freedom positively assess the country's efforts to provide guarantees to investors and entrepreneurs. Also, Colombia occupies the best position in the region in the OECD FDI Regulatory Restrictiveness Index. The country has the least restrictions on FDI in the region, even less than USA and Canada. Colombia has one of the most independent judiciaries in the region. This provides guarantees to investors and facilitates the fulfillment of contracts. Furthermore, Colombia abides by rulings issued by international arbitration courts. Given the economic strength and favorable conditions, between 2016 and 2021, a total of USD 52,818 million in FDI arrived in the country, in non-mining-energy sectors. In 2021, those sectors received investments for USS 7,587 million
- The diversity in training and areas of knowledge of Colombian talent allows companies to meet their personnel needs at all technical, university and postgraduate levels.
- Colombia provides preferential access to more than 60 countries and 1.5 billion consumers around the world. The country has 19 investment agreements in force and 5 signed. 13 double taxation agreements in force and 6 signed. These advantages have encouraged worldwide companies to trust and invest in Colombia
- The National Government has introduced several incentives to support and encourage foreign investment. These include a renewed free trade zone regime, customs duty reductions or exemptions for imported raw materials and machinery, Value Added Tax exclusions for imported equipment, incentives to invest in science, technology, and innovation, as well as incentives for several economic sectors, including agriculture, tourism, creative industries, the automotive industry, among others.
- Colombia is the Best Country in LATAM and 25th globally for entrepreneurs according to the WEF'S 2022 GEM. Also, companies in Colombia found an institutional framework that supports business development. According to the Global Competitiveness Report, Colombia ranks second place in business dynamism and stability of the financial system in Latin America.
- Colombia actively answers to international challenges such as sustainable development. The country has clear and ambitious goals in this regard. Although Colombia represents only around 0.4% of global emissions, its NDC is one of the most ambitious in the Latin America and Caribbean region thus far. Reducing greenhouse gas emissions by 51% by 2030 Achieving carbon neutrality by 2050 30% of the national territory declared a protected area by 2022 Colombia was the 1st country in the region to publish a green taxonomy
- According to the World Energy Council, Colombia is a leader in energy transition, ranking 3rd in the Americas and 29th among 115 countries in the world. It is projected to multiply by one hundred the capacity in renewables, which will go from 28.2 MW in 2018 to 2,500 MW. By 2023 the capacity will be 4,584.3 MW between solar and wind projects. WATER: about 70% of energy in Colombia comes from water sources WIND: has an energy production potential of 25 GW and contemplates 3.07% of Colombia’s energy generation in 2020. (UPME) SOLAR: The solar establishment exceeds the world average (with 6 kWh/m2 and the world 4.5 Wh/m2) and represents 6.5% of Colombian electricity generation in 2020. (UPME)
- Colombia offers opportunities related to the circular economy, electric mobility, equipment conversion, water and waste treatment, and recycling, among others Also due to our biodiversity our country offers business opportunities in natural ingredients, sustainable agriculture, and ecotourism.
- In ProColombia we aim to support Colombia´s National Sustainable Development Goals by promoting a positive change while attracting foreign direct investment to the country and enhancing Colombia´s road to zero and sustainable inclusive growth strategies. We have supported the arrival of investors such as Acumen, John Laing, and Auvert, among others.
- Thanks to its competitive costs of human talent, raw materials, distribution, and production factors, Colombia offers an ideal location for manufacturing production. Colombia offers opportunities related to the automotive industry, fashion industry, and packaging, among others.
- Likewise, the public policy of digital transformation and attraction of investment in technology and value-added services makes the country an ideal destination for the expansion of businesses related to the generation of knowledge-based services Colombia is the headquarter of the first Center for the fourth industrial revolution in Latin America affiliated with the World Economic Forum and 1st place worldwide in the Entrepreneurship Index (IPSOS 2021). There are opportunities in sectors such as software, video games, outsourcing services, etc.
- Similarly, the availability of land rich in nutrients, climate, variety of thermal floors, and the supply of agricultural products throughout the year, as well as the size of the market, positions Colombia as an agri-food powerhouse in the region with multiple investments opportunities in sectors like cocoa, fresh fruits, packaged food, among others.