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Chapter | Mining from The Report: Colombia 2019

With broad political support and efforts to improve the licensing process, the mining industry looks set to experience a rebound in 2019. While investments in coal production are unlikely to increase substantially in the coming years, segments such as gold, copper, nickel, emeralds, and other metallic and non-metallic minerals will provide attractive targets for investment. Government efforts to curb illegal operations, formalise small-scale mining and create a more attractive business environment have already begun to yield results, but the success of new and incoming projects will dictate whether the industry’s momentum will continue. This chapter contains an interview with Kelvin Dushnisky, CEO, AngloGold Ashanti.

Chapter | Energy & Utilities from The Report: Colombia 2019

With the new administration’s pro-business, pro-investment stance, in addition to improvements in international prices, the Colombian oil and gas sector is anticipating increased investment over the coming years. Its efforts to diversify and strengthen its energy mix by capitalising on the country’s abundance of renewable sources and further developing its hydropower segment will likely continue to attract the interest of new industry players. As Colombia’s proven oil and gas reserves begin to decline after having reached their peaks, the announcement of new exploration activities and the first fracking pilot project are reassuring signs that the sector is moving in the right direction. This chapter contains interviews with María Fernanda Suárez, Minister of Mines and Energy; and Astrid Álvarez Hernández, CEO, Grupo Energía de Bogotá.

Chapter | Economy from The Report: Colombia 2019

Colombia is poised for expansion in 2019 and 2020, despite some internal and external challenges that have not abated since 2018. Growth of the Colombian economy will be determined by which side of the scale advances further in the short term: strong consumer spending and increased investment in the construction sector due to the ongoing Fourth Generation road programme, or a deepening current account deficit and strained labour market due to the influx of Venezuelan refugees. As the country tries to advance its international competitiveness to secure greater investment and job growth, the government must battle inflation, unemployment and a fluctuating peso. Still, if the current National Development Plan is implemented successfully, the Duque administration is likely to leave behind a stronger Colombia with increased opportunities for all. This chapter contains interviews with Alberto Carrasquilla, Minister of Finance and Public Credit; Flavia Santoro Trujillo, President, ProColombia; and Juan José Echavarría Soto, General Manager, Banco de la República.

Chapter | Legal Framework from The Report: Peru 2019

This chapter introduces the reader to the different aspects of the legal system in Peru, in partnership with RGB Avocats. It also contains an interview with Ricardo Guevara Bringas, Corporate Lawyer and Partner, RGB Avocats.

Chapter | Tax from The Report: Peru 2019

In conjunction with EY Peru, this chapter explores the taxation system and Peru’s efforts to build an investor-friendly environment. It also contains an interview with Humberto Astete, Tax Partner, EY Perú.

Chapter | Education & Health from The Report: Peru 2019

Efforts to reform the education sector, boost teacher salaries, provide qualitative assessment and coordinate national education policy are areas being targeted by the government, while the skills mismatch between graduates and the private sector, the urban-rural gap, and underperforming private primary and secondary schools highlight other areas that require attention. Local authorities and international organisations have already taken steps towards overcoming these challenges, and the government appears to be on track to achieve its bold education objectives. With increased funding, the government laid out a series of initiatives aimed at increasing access to and improving the quality of health care, which should help achieve universal coverage by 2021 and further improve health indicators. Although challenges remain, particularly with a rural-urban divide and a shortage of doctors and medical specialists, Peru’s is strengthening its health infrastructure. This chapter contains an interview with Angela Flores, Executive Director, National Association of Pharmaceutical Manufacturers.