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Investment Policy Review - Colombia

image of Investment Policy Review - Colombia

The present review looks at ways to strengthen the Colombia's investment promotion arm, Pro-export. It also proposes policies to attract more technology-driven firms to its growing knowledge-based economy. While praising the government for its market reforms, it notes that investors are nevertheless concerned with a number of contradictory fiscal measures and the difficulty of resorting to international arbitration in case of disputes. The review urges the government to extend its network of bilateral investment treaties and double taxation agreements to fully tap market opportunities offered by the bilateral trade agreement with the United States and to begin negotiations with the European Union.

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Survey of foreign investors established in Colombia

A survey of 61 foreign investors established in Colombia was undertaken on behalf of UNCTAD by Fedesarrollo between May and October 2003.79 Seventy per cent of those companies were more than 75 per cent foreign-owned. Furthermore, 75 per cent were in manufacturing, 17 per cent in services and 8 per cent in hydrocarbons and energy. 49 of those companies were located in Bogotá, five in Cali and three in Medellin. All but one had assets of over $2 million. The main mode of entry was by establishing subsidiaries, although compared to other surveys carried out by Fedesarrollo in previous years, this method of entry is now on the decline, in favour of joint ventures and acquisitions.

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