Despite slowing regional and global growth, Colombia saw its GDP rise 2.7% in 2018, up from 1.4% in 2017, according to the IMF. An important driver of this expansion of the economy has been rising investment in the transport and logistics sector. While the majority of investment comes from the private sector, state investment has also risen, increasing steadily from 0.6% of GDP in 2003 to 2% in 2013, before reaching nearly 3% in 2018. Colombia has made considerable progress in the expansion…
Transport & Logistics
From The Report: Colombia 2019
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Notable progress has been made in expanding the country’s road system, and increasing port and air transport capacity. Furthermore, new projects are set to increase the transit of goods along Colombia’s railways and rivers. Rising investment in these segments has boosted the competitiveness of the country and contributed to growth. Nevertheless, Colombia faces high logistics costs and ongoing bottlenecks to connectivity. The transport infrastructure gap is large and set to grow further as demand rises. Significant investment will be needed across the sector to close this gap and ensure that the country can sustain its economic development. While this presents a challenge, the country stands to benefit from its mature public-private partnership framework and openness to foreign direct investment. Leveraging private sector expertise and investment within the framework of a long-term national strategy presents a promising formula for an integrated transport network. This chapter contains an interview with Ángela María Orozco Gómez, Minister of Transport.