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Colombia
Greetings
Peace as the
foundation of a stronger
Colombian economy
H. E. Jaime Alberto Cabal Sanclemente
Ambassador of the Republic of Colombia to Austria, and
non-resident Ambassador to Croatia, the Czech Republic,
Hungary, Montenegro, Serbia, Slovenia and Slovakia.
Former Minister of Economic Development of Colombia.
Foto: Embassy of Colombia
The Peace Agreement signed between the government
of Colombia and the rebel group FARC-EP
implies a substantial improvement for the existing
economy opening doors to new opportunities
and the consolidation of different sectors both
in cities and rural areas, historically affected by the
armed conflict.
Currently, Colombia has a GDP of US$ 292 billion
and a GDP per capita of US$ 6.056 but according to official
agencies, Colombia’s annual GDP growth could
turn out higher than expected as a result of the Peace
Agreement.
The government will invest around US$ 13,7 billion
in 2017 in different economic and social sectors, resulting
in 765.433 new jobs and an expected GDP growth
of 2.6 %.
Furthermore, US$ 8,5 billion will be invested in
housing and education sectors, which will result in a
rise of housing solutions by 33 %. The investment of US$
3,13 billion in the development of thirty Fourth Generation
(4G) road projects will lead to the creation of 313.784
employments and a GDP growth of 0.35 % in 2017.
In addition, there will be an investment of US$ 2.8
billion in improvements of 51 airports as well as of US$
1,2 billion in port concessions and US$ 1.8 billion for
the improvement of the navigability of the Magdalena
river.
The agriculture sector plays a key role in the
post-agreement period through substitution policies
of illegal cultivation, demining and the reconstruction
of small infrastructure projects. Therefore the government
will be investing US$ 5,3 billion in order to promote
the creation of infrastructure projects by private
businesses or organizations in the rural areas which
are most affected by the armed conflict.
The tourism sector has become a major driver for
growth. Over the last years, the number of incoming
tourists increased from 4.4 million in 2015 to 5.3 million
in 2016 and for 2017 a number of 7 million incoming
tourists is expected.
Colombia is becoming a country of increasing business
opportunities in a consolidated and stabilized
economy positioning itself as a strategic partner both
on a regional and international level.
The European Business and Investment Magazine iconannual 27