Analysis

Tax reform package key to trade and investment in Colombia's economy
OBG
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Colombia began 2019 with a raft of tax and fiscal reforms designed to stimulate local and foreign investment, though there are concerns that some of the measures may hinder growth in the short to medium term. Headlining the changes in the Financing Law, which came into effect on January 1, 2019, is the progressive reduction of corporate income tax from 33% in 2019 to 30% in 2022, along with…

Analysis

Colombia's new OECD membership to help expedite major economic reform
OBG
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In May 2018 member states of the OECD formally welcomed Colombia as the 37th member of the organisation. The country is the third nation in Latin America and the Caribbean to join the group, after Mexico and Chile. The OECD has traditionally been considered an organisation for developed economies, sometimes being referred to as “the league of rich nations”. However, Colombia’s addition…

Analysis

Colombia offers new financial products to promote development and environmental sustainability
OBG
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Drawing on international best practice, public and private banks in Colombia have begun to develop financial products designed to promote environmental sustainability and achieve development goals. Beginning in 2016 the country has issued a series of green bonds to support environmental projects. Building on this experience, Colombia has more recently begun to issue new financial products aimed…

Analysis

Colombia's venture capital investment bolstered by innovative start-ups
OBG
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Gross venture capital (VC) investment in Latin American start-ups reached a record $780m in the first half of 2018, representing year-on-year (y-o-y) growth of 63% from $476m. The total number of VC deals was similarly up by 61.1%, from 90 to 145, according to data from the Association for Private Capital Investment in Latin America (LAVCA). The association projected VC investment for all of…

Analysis

Colombia increases efforts to incorporate renewables in its energy mix
OBG
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Colombia is redoubling efforts to include renewable energy in its power supply mix. This has meant moving away from its dependence on hydroelectricity, which has been made unreliable due to shifting climate patterns. Law No. 1715 was passed in May 2014, creating a foundation for the adoption of these technologies by regulating integration of non-conventional renewable energy sources to the…