Investment Policy Review - Colombia

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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.



Conclusions and recommendations

Since the early 1990s Colombia has engaged with FDI much more comprehensively than in the past. As a result, inflows have increased, probably on a sustainable basis. FDI has entered many new areas of business, especially through the privatization of service industries. Privatization and oil extraction will continue to provide key opportunities for FDI but there is continued potential in manufacturing and services generally. There is some evidence that – in line with Colombia's goals – FDI has been attracted to high technology sectors of the economy.


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