Colombia, A Positive Country
Prepared by:
Affairs Coordinator
Internal and External Communications
Ministry of Foreign Relations
ON THE FRONT PAGE
• INVESTORS’ LAW NOW IN FORCE: the President of
the Republic, Álvaro Uribe Vélez, approved the
Judicial Stability Law for investors in Colombia, by means of
which national and foreign investors will be provided with clear
and dependable rules of the game, substantially diminishing possible
risks from changes in the norms for contracts with the government.
Investors eligible to sign these contracts are natural persons
or legally established entities, and domestic or foreign associations
who make new investments or expand current investments in national
territory of a minimum of one million dollars, in other words,
equivalent to 7,500 of the legal monthly minimum salaries currently
in force.
• INNOVATIONS FOR COLOMBIAN HANDMADE
GOODS: in the Fourth
International Colombian Handmade Goods Competition held in Italy,
300 designers of diverse nationalities presented proposals for
new product lines, contributing to the conservation of the vitality
of the Colombian cultural patrimony, and to an increase in the
role of handmade goods in the country’s economy and in
the international arena. The event is organized and promoted
by the Embassy, Handmade Goods of Colombia, and domestic and
foreign institutions.
• WEBSITE FOR FORMS FOR EXPORTERS
AND IMPORTERS: starting
on September 1, permits, certificates, and prior approval required
by institutions for exports or imports will be done by Internet.
The system guarantees technological and legal security for the
procedures by means of integrated digital signatures and electronic
online payments. The 18 institutions that manage foreign trade
forms will be available 24 hours a day at web page https://www.vuce.gov.co.
Users may access the web page using the “Registro Único
Tributario” or Sole Tax Registration Number, and by registering
with the system.
• MACRO TRADE SHOW FOR BUSINESS
IN HOUSTON: more than
200 Colombian companies and a similar number of buyers will participate
in the third Macro Business Trade Show with the United States
and Canada, to be held August 3 – 4, in Houston, Texas.
The event is organized by Proexport. www.bizmatch2005
SOCIAL INVESTMENT
• CHILDREN’S BREAKFASTS FOR 220 THOUSAND MORE CHILDREN: this program, created during the administration of President Álvaro
Uribe, has benefited 517 thousand children. The goal for 2006
is to reach one million children under 6 years of age. The 220,394
children under 6, who belong to vulnerable populations in 23
regions of the country, will benefit from the ICBF’s program
for Children’s Breakfasts.
SUSTAINABLE ECONOMIC GROWTH AND GENERATION OF EMPLOYMENT
• OIL, THE PRODUCT MOST SOLD
IN THE FIRST SEMESTER: at the close of the first semester of 2005,
Colombian exports had
grown by 31.5% with respect to the same period in 2004, going
from US $2,203 million to US $2,896 million according to the
DANE. Traditional exports grew by 32%, going from US $1,086 million
to U$1,433 million, and non-traditional exports grew by 31%,
increasing from US $1,116 million to US $1,463 million. Invoices
for oil totaled US $662.7 million in comparison to US $557.9
million during the same period of 2004, representing an increase
of 18.8%. The second most sold product was coal, at US $360.9
million, 36% more than in the first semester of 2004.
• THE ECONOMY GREW 3.69% IN THE
FIRST QUARTER: the growth recorded for the Colombian economy
during the first quarter of
2005 was slightly lower than growth in the same period of 2004,
at 4.06%, according to the DANE. Upon including illicit crops,
the growth of Gross Domestic Product for that period was 3.61%,
when in 2004 it was 3.96%, and in 2003 it was 4.52%. The best
behavior was seen in construction with a growth of 10.6%, followed
by commerce, repairs, restaurants, and hotels, with 7.27%.
• US $822 MILLION IN DIRECT FOREIGN
INVESTMENT: in the first three months of 2005, more than US
$200 million additional
dollars were invested in Colombia than in the same period of
the prior year, according to a study carried out by the Sub Department
of Economic Studies of the Bank of the Republic on the balance
of payments. In that same lapse of time, US $40 million left
the country in the form of investments by Colombians outside
the country, for a net investment of US $782 million. The main
recipients of foreign capital were the mining sector with US
$488 million and US $188 million for exploration and production
in the oil sector and tax payments.
STATE EFFICIENCY AND TRANSPARENCY
• COLOMBIA STRENGTHENS ITS POSITION
AS AN INTERNATIONAL TRAVEL DESTINATION: the program seeks to
increase the entrance
of foreign travelers and obtain the cooperation of international
organizations for tourism projects in the country. This includes
a business component led by Proexport, oriented toward involving
international tour operators in the sale of Colombian destinations
outside the country. The strategy for cooperation received co-financing
from the OAS for the first phase of the Strategic Tourism Plan
for the Amazon Region, and a cooperation agreement was signed
with the World Tourism Organization, to strengthen international
tourism marketing research.
• NEW BANCOLDEX LOAN FOR FOREIGN
TRADE: Bancoldex opened a new special line of credit for US
$180 million to support foreign
trade by the Colombian business sector, oriented toward financing
exports and imports, of both goods and services. For operations
of a maximum of one year the amount available is US $100 million;
and for those of one to three years the available amount is US
$80 million. The loans are aimed at businessmen in all economic
sectors who require financing for their export or import activity,
up to 100% of the project.
DEMOCRATIC SECURITY
• RESOURCES FOR DISPLACED PERSONS
GREW BY 192%: While in 2002 $150,800 million pesos in resources
were assigned to
help people displaced by violence, in 2005, $440,800 million
were designated. In addition to the resources in the Annual Plan
for Funds, the government ordered governmental entities to give
priority within their resources to aid to displaced persons.
The SENA will help 71,103 persons this year, and as a result
of its training of displaced persons, it has created 4,237 productive
units and 346 jobs.
July 8, 2005
