COLOMBIA Investment Environment and Business Opportunities in Colombia. June 2012
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1 COLOMBIA Investment Environment and Business Opportunities in Colombia June 2012
2 About us Proexport is Colombia s entity in charge of the promotion of International Tourism, Foreign Direct Investment, and non-traditional exports EXPORTS INVESTMENT TOURISM
3 Proexport s network: 28 offices around the world and 8 offices in Colombia
4 Recent investment projects supported by Proexport Established one of its two world class R&D centers. Opened a new Data Center oriented to Systems Integration, Outsourcing and Support Services. Opened a new global service center in Medellin Develop a Sugarcane ethanol project on aproximately 10,000 hectares. Opened a new business hotel offering 264 rooms, located in the heart of Bogota s financial district. Acquired ESI de Colombia, a value added reseller of industrial electrical equipment an engineering services
5 Overseas Colombia and overseas Colombia Exports Portfolio Joint working plans with entrepreneurs interested in exports. Commercial Information and offer adjustment trough different areas such as Zeiky, DEI and Cooperation. Buyer missions 4 Business Matchmaking 5 6 International Fairs Technical Support and Commercial Missions 7 Showrooms 8 9 Web page for exporters and buyers Commercial Agendas 10 Exporter Missions
6 Overseas Colombia and Overseas Colombia Investment Portfolio 1 Seminar for investors already installed 2 SIFAI (System to facilitate and Attract Investment) 3 Coordination of regional promotion 4 Tailor made information requests 5 Coordination of site visits. 6 Contacts with key entities in the public and private sector 7 International Events and seminars.
7 Overseas Colombia and Overseas Colombia Tourism Portfolio 1 2 Joint working plans Exporter Plans Institutional Projects 3 Special Projects 4 Business meetings 5 Promotion Activities 6 7 Joint promotion plans with operators Workshops, destiny presentations and International Fairs 8 9 Familirization Trips / media Tourism Portal 10 Added Value Institutional Presence
8 The facts behind the headlines The Colombian comeback: from nearly failed state to emerging global player. April 23, 2012 The country s $370bn economy is booming, with output growing at 6 per cent a year. A free trade deal has been closed with the US and foreign investment is rolling in, especially into mining and energy. May 9, 2012 The nation enjoys economic and political stability, a hard-working and entrepreneurial culture, high levels of productivity and performance in selected sectors and a number of world-class companies. May 16, 2012 Colombia is emerging as an attractive destination for investors as it works to distance itself from its troubled past. September 18, 2011
9 General facts In terms of population, Colombia is 2 times bigger than Australia and bigger than all Central America 55% of the population is less than 30 years old and has 7 metropolitan areas with over 1 million people Colombia is world s second country in biodiversity and is considered one of the 12 megadiverse countries in the world Colombia is the only country in South America with privileged access to both, the Atlantic and the Pacific ocean Colombia has preferential access to more than 1.5 billion consumers, thanks to international trade agreements.
10 A competitive location with easy access to markets around the globe Canada Toronto 6H05M Los Angeles 8H20M Mexico Mexico City 4H45M United States Quito 1H30M Ecuador Lima 3H00M Peru Santiago Chile 5H00M Miami 3H00M Chile New York 5H35M Caracas 1H20M Brazil Sao Paulo 5H45M Buenos Aires 6H15M Argentina Madrid Paris Frankfurt Barcelona Over 700 weekly direct international frequencies. More than weekly domestic frequencies. Less than 6 hours to the main capital cities in Latin America. More than 26 different airlines operating in Colombia.
11 47,5 46,1 40,9 38,2 The second largest Spanish speaking country in the world and the 23 rd most populated Population * Millions of People 113,8 34,4 30,4 29,1 22,5 17,3 11,3 10,7 10,6 9,5 8,4 7,9 7,8 5,2 5,0 4,4 Source: EIU - Economist Intelligence Unit. * Forecast
12 Colombia is the 28th largest economy in the world and one of the largest non-oecd economies GDP (PPP) US $ Billion PPP - Purchasing Power Parity. Source: EIU - Economist Intelligence Unit
13 Colombia s GDP per capita is close to US$ 10,000 GDP per Capita (PPP) US$ 9,920 8,838 6,817 5, GDP per capita adjusted to prices at purchasing power parity (PPP) Source: EIU - Economist Intelligence Unit
14 Colombia is part of the group of upper-middleincome countries since 2005 US$ Per-Capita National Income * Current USD Upper Middle Income Lower Middle Income Low Income e Source: Ministerio de Hacienda ycrédito Público; EIU. * Classification based on a World Bank methodology
15 Macroeconomic stability and strong economic performance GDP, Inflation and Unemployment rate Annual Average % Unemployment rate ,7 GDP Inflation Source: DANE- Colombia Central Bank - EIU: Economist Intelligence Unit Forecast
16 Colombia positions itself as one of the economies leading growth in the region GDP (PPP), US$ Billion CHILE COLOMBIA PERU VENEZUELA e 2012p 2013p 2014p Source: EIU May P: Projected E: Estimated
17 For the last 10 years Colombia has shown inflation decrease and constant GDP growth. Nominal GDP (US$ billions) Bubble Size: Population Million Inflación (%) 1 0 Source: EIU, DANE, Trading Economics, Banco de la República. Argentina Colombia Egipto 2000
18 A rapidly growing consumer market: More than 46 million of mobile telephone lines by 2011 Active cell phone users per year Year Active lines Variation % ,256, ,265, % ,596, % ,186, % ,400, % ,849, % ,762, % ,941, % ,364, % ,025, % ,477, % ,200, % Mobile Phone Penetration % 13.9% 10.5% 7.6% 5.3% 4.7% 4.4% 3.2% 1.3% 0.7% 0.2% Operator 47.5% 100,30% 97,70% 91% 85.20% 77.3% 68.6% Users 2009 Users 2010 Users 2011 Variation Colombia Movil 4,516,509 5,208,793 5,741, % Telefonica Moviles 8,964,575 10,004,521 11,391, % Comcel 27,673,546 29,264,339 28,818, % Total 41,154,630 44,477,653 46,200,421 Source: CRC - Communication Regulation Commission
19 Internet access has triplicated for the past four years Internet conections Include mobile networks Source: Communication Regulation Commission.
20 Colombia s sovereign debt recovered investment grade status in 2011 The three agencies agree on the country's positive economic and financial situation, highlighting: Its ability to deal with external shocks Its historic fulfillment of obligations An increase in its macroeconomic credibility A visible improvement in security conditions 7 February 2012
21 The third friendliest country to do business in Latin America and the top reformer in the region Colombia Peru Panama Mexico Ecuador Venezuela Brazil Argentina Chile Costa Rica Doing Business Ranking* Variation in the number of positions Country World Ranking 2012 World Ranking 2011 Chile Peru Colombia Mexico Panama Argentina Costa Rica Brazil Ecuador Venezuela Source: Doing Business 2012 World Bank Report *Positive numbers indicate improvements in business environment
22 Colombia is the leader in terms of Investor Protection in the region Colombia Peru Chile México Brazil Argentina Panama Venezuela Investor Protection Index Doing Business ,3 World Ranking Country 6,7 6,3 6,0 5,3 4,7 4,7 5 Colombia 20 Peru 28 Chile 44 México 2,3 74 Brazil 109 Argentina 109 Panama 179 Venezuela Source: Doing Business Report World Bank
23 Remarkable export growth Exports, 2000 March 2012 US $Million Top Exports Destinations ,954 37,626 39,820 United States US $21,720 million 38.1% Share Netherlands US $2,524 million 4.4% Share 13,158, , Jan - Mar ,527 Jan - Mar 2012 Chile US $2,205 million 3.9% Share China US $1,989 million 3.5% Share Variation : -21.2% Variation : 43% Variation Jan Mar 2010 vs. Jan Mar 2011: 23.2% Source: DANE (National Department of Statistics)
24 Colombia as an export platform: 11 free trade agreements (FTA), allowing preferential access to over 1,500 million consumers Iceland Norway Canada Liechtenstein European Union Mexico United States El Salvador Guatemala Honduras Switzerland Israel Turkey South Korea Japan Ecuador Peru Brazil Bolivia Chile Uruguay Paraguay Argentina IN FORCE SIGNED IN NEGOTIATION FUTURE ALL Source: SICE; OAS.
25 In 2012, Colombia will have negotiated 21 International Investment Agreements (IIA) iceland NORWAY Canada United Kingdoom Liechtenstein European Union Mexico United States Panama Switzerland Spain Kuwait Turkey India China South Korea Japan NORTH TRIANGLE Ecuador Peru Bolivia Chile IN FORCE SIGNED IN NEGOTIATION ALL Note: The International investment agreements (IIA) include Agreement Investment Treaties (BIT) (agreement) and Free Trade Agreements (FTA) with investment section (chapter).
26 Colombia will have 16 Double Taxation Agreements (DTA) negotiated by the end of 2012 Netherlands Canada United States Switzerland Spain Portugal Belgium Germany France Czech Republic Japan Mexico South Korea Ecuador India Peru Bolivia Chile IN FORCE SIGNED IN NEGOTIATION ALL
27 FDI inflows reached a record in 2011 IED, US$ Millons 13,234 Main Investing Countries in Colombia * United States Accumulated US $9,595 million Share of 24.8% 8,061 England Accumulated US $5,684 million Share of 14.7% 3,683 Spain Accumulated US $3,431 million Share of 8.9% Average Average Canada Accumulated US $1,373 million Share of 3.6% Variation : +92% Figures obtained through the foreign currency balance of the Bank of the Republic. *Share of all countries with positive cumulative investment, without reinvested profits or investments in the oil sector. Accumulated value : US $38,615 million Note: the list of the top countries investing in Colombia does not include Anguilla or Panama, in third and fourth place. Source: Central Bank- Balance of Payments
28 Third country in the region in terms of FDI flows as a percentage of GDP 2.9% % % % % 14.7 Inward FDI flow/gdp(%) Inward Direct Investment US$ bn. 1.4% 6.12 Source: EIU, Banco de la Republica
29 Colombia is the second most promising market for investments in Latin America over the next three years If you were to invest in a Latin American country in the next 3 years, where would you invest? 68% 38% 25% 25% 18% Brazil Colombia Chile Mexico Peru Colombia is earlier in its growth cycle and more emerging than many other countries in the region Colombia s Government seems pro-business and is taking the right steps toward encouraging investment in the country Source: North American and European Investor Opinions of Latin American Companies. J.P. Morgan
30 Colombia s FDI outflows also set a record in 2011 FDI from Colombia 2011 US$ Millions 325,3 937,7 142, ,0 912, , , , , FDI from Colombia by Sectors 2011 % Other 0% Constructi on 1% Oil and Mining 8% Commerce Rest., and Hotels 10% Manufaturi ng 13% Energy 16% Financial Services 52% Ranking of countries receiving FDI from Colombia ( ) % Share by total FDI of positive flows from Colombia, without reinvesting profit Source: Central Bank 1. USA 2. England 3. Panama 4. Brazil 5. Peru 6. Guatemala 7. Mexico 8. Chile 9. Ecuador 10. Venezuela
31 Colombia is increasingly attractive to visitors Foreign visitors in Colombia IQ Thousands Main nationalities of foreign visitors in Colombia, United States visitors Share 20,1% Venezuela visitors Share 14,5% I Trim 2011 Arrivals (Migración Colombia) Visitors in Cruises I Trim 2012 Ecuador visitors Share 6,9% Argentina visitors Share 5,9% Sources: Colombia Migration, MCIT, Bank of the Republic. Proexport Calculations.
32 National Development Plan AGRIBUSINESS MINING INNOVATION INFRASTRUCTURE HOUSING
33 Productive Transformation Program: A public - private partnership to strengthen and build world class sectors 16 Estrategic Sectors SERVICES MANUFACTURING AGRICULTURE BPO &O Graphic Communications Chocolates and Candy Software & IT Fashion System Beef Health Tourism Auto parts and Vehicles Industry Palm, Vegetable Oils and Biofuels Ecotourism Cosmetics Shrimp Electric energy and services Steel Dairy products Horticulture
34 Colombia s human capital: Strong credibility on managers among society Managers Credibility, 2012 Scale : weak 10: strong Colombia Brasil Venezuela México Perú Chile Argentina Fuente: IMD World Competitiveness, Ranking among 59 countries.
35 A competitive workforce Higher education and training Position among 142 countries Chile Argentina Brazil Colombia Venezuela Mexico Peru Ecuador Source: World Economic Forum
36 Labor incentives Discount in the income tax and supplementary contributions, and other contributions from payroll (Do not include positions generated by mergers or replacements) 1. New employees under twenty eight (28) years old. Length of benefit by employee: 2 years. 2. New employees certified in displacement situation, reintegration or disability. Length of benefit by employee: 3 years. 3. New women employees above 40 years old with more than 1 year unemployed. Length of benefit by employee: 2 years. 4. New employees with incomes lower than 1.5 SMMLV. Length of benefit by employee : 2 years
37 Innovation incentives % Income Tax Deduction Over investments in scientific and technological developments 2. Non taxable Income Resources received by scientific, technological and innovation projects does not constitute income. 3. Benefits in equipment imports Equipment and tools imported by R&D Centers recognized by Colciencias shall be exempt from sales tax (VAT).
38 A country of regions and differenciated opportunities for investors Pacific Region Caribbean Region Central / Andean Region Orinoquía Region Caribbean Region: Tourism, Logistics, Petrochemical, Construction Supplies Atlantic Export Platform Central/Andean Region: Outsourcing Services, high value-added manufacturing, hub to cover domestic market, specialized agribusiness Pacific Region: Manufacturing, Agribusiness, logistics, biotechnology, Pacific export platform Amazonia Region Orinoquía Region: Agriculture, forestry, biofuels, hydrocarbons Amazon Region: Conservation, ecotourism (Leticia)
39 A competitive Free Trade Zone framework Atlantico Magdalena Guajira Bolívar Antioquia Caldas Risaralda Norte de Santander Santander Boyaca Quindio Valle del Cauca Cauca Cundinamarca Huila Caribbean Area Andean Region Pacific Region
40
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