While its Pacific Alliance partners Chile, Peru and Mexico have developed large formal mining sectors, Colombia’s internal conflict has prevented it from following suit. Although the country was home to prolific gold mines during the colonial era, at present only 10-15% of the 57 tonnes of gold produced each year comes from registered, tax-paying mining companies. The rest...
The drop in commodity prices, particularly gold, has created challenges for both the government and private players in Colombia’s mining industry. In 2015 Goldman Sachs ended its brief foray into the natural resources sector, selling its coal-mining division to Murray Energy. The US investment bank had paid around $200m for Coalcorp’s La...
With road and residential construction thriving, Colombia’s construction materials industries appeared poised for steady growth in the medium term. Materials produced domestically include cement, steel, PVC, brick and several raw resources including gravel, sand and metallurgical coal. All of these sectors stand to benefit from large-scale...
As a new Colombian middle class emerges, retail is beginning to modernise to meet the needs of a wealthier consumer base. Big Latin American retailers, sometimes called multilatinas, are introducing their brands to the country, and malls have been opening frequently, at a rate of one every 23 days in 2013, according to the National Retail Federation (Federación Nacional...
Free economic zones (FEZs) have been an important draw for both domestic and foreign investment in Colombia in recent years. Companies operating in these zones enjoy preferential tax and Customs treatment in exchange for compliance with minimum investment and employment requirements. Overseen by the National Tax and Customs Directorate (...
One of the most successful sectors under the Productive Transformation Programme (Programa de Transformación Productiva, PTP) is cosmetics, which has drawn in foreign direct investment from numerous multinationals, has grown faster than the economy at large and has transitioned from being a net importer to a net exporter in the past 15 years...
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