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Interview

Mauricio Cárdenas, Minister of Finance and Public Credit: Interview
OBG
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Interview: Mauricio Cárdenas What are the main aims of the recent structural tax reform, and what effect is raising value-added tax (VAT) to 19% expected to have? MAURICIO CÁRDENAS: The structural tax reform constitutes a substantial effort to modernise the Colombian tax system. It is a complete revision of the country’s tax structure with a long-term perspective, and focuses on competitiveness…
Interview

Gerardo Corrochano, Colombia Country Director, World Bank: Interview
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Interview:Gerardo Corrochano How can Colombia further diversify its economy, and what barriers have there been to doing so? GERARDO CORROCHANO: Colombia’s export revenues were hit hard by the fall in oil prices, and the account deficit reached 6.5% of GDP in 2015. However, the depreciation offers opportunities for other exports, especially in the manufacturing sector. To exploit this would…
Interview

Juan Pablo Córdoba, President, Colombian Stock Exchange (Bolsa de Valores de Colombia, BVC): Interview
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Interview:Juan Pablo Córdoba As local companies diversify their sources of funding, how can capital markets be better utilised? JUAN PABLO CÓRDOBA: The investment focus in Colombia is shifting from extractive industries to the manufacturing and agricultural sectors. As a result, we need to channel resources into those sectors, and provide positive conditions for local businesses to grow and…
Interview

Gonzalo Pérez, CEO, Suramericana: Interview
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Interview:Gonzalo Pérez How can the insurance industry in Colombia create better agro-insurance products that will boost inclusion? GONZALO PÉREZ: It is important to advance in terms of financial education, as well as to simplify regulation and access to insurance. In a digital economy, and in a post-conflict scenario at a national level, it is essential to rethink our solutions and even…
Interview

John Nelson, Chairman, Lloyd’s: Interview
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Interview:John Nelson What are the greatest challenges facing Colombia’s insurance sector, and what role can insurance play in supporting economic growth? JOHN NELSON: Colombia’s economy continues to grow in the face of some challenges; however, it is clear that the recent peace agreement will further boost the economy down the road. Currently, there is a greater propensity for foreign…
Interview

Bernardo Vargas Gibsone, President, Interconexión Eléctrica (ISA): Interview
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Interview: Bernardo Vargas Gibsone How were the challenges faced by Colombia’s electricity sector in 2016 handled in an efficient way, and what lessons were learned? BERNARDO VARGAS GIBSONE: The challenges Colombia faced at the beginning of 2016 were of historical dimensions. Since the end of 2015 the country has been hit hard by the prolonged El Niño climatic phenomenon – probably the most…
Interview

Francisco José Lloreda, President, Colombian Petroleum Association: Interview
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Interview:Francisco José Lloreda What steps are being taken to improve investor confidence in Colombia’s oil and gas industry as legal uncertainties prevail in the sector? FRANCISCO JOSE LLOREDA: The Colombian government has been introducing some measures to further improve investor confidence, principally through the adjustments made to National Hydrocarbons Agency (Agencia Nacional de…
Interview

Eduardo Verano, Governor, Department of Atlántico: Interview
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Interview : Eduardo Verano In what ways can a more decentralised government be beneficial to Colombia´s development? EDUARDO VERANO: If Colombia keeps the same centralised model as it has had for the past 200 years, its regional areas may have problems fully developing economically and socially. With the exception of the “golden triangle” – the area encompassing Medellín, Bogotá and Cali…
Interview

Juan Camilo Samacá, President, Almaviva: Interview
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Interview:Juan Camilo Samacá What needs to be done for Colombia to reach international levels of competitiveness in logistics? JUAN CAMILO SAMACÁ: If we take as a reference the World Bank’s Logistics Performance Index 2016, which reported that after evaluating factors such as customs processes, infrastructure, transport, and quality and capacity of related services, Colombia ranked 60th…
Interview

René Puché, President, Port of Barranquilla: Interview
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Interview:René Puché Given that Colombia’s ports are far from the main centres of production and consumption, how can firms be encouraged to relocate nearer to them? RENE PUCHÉ: This is one of the biggest challenges that Colombia is facing today to developing its industrial sector and boosting foreign trade. The first task is to demonstrate the advantages of moving closer to existing infrastructure,…