Colombia: Business environment at a glance
October 3, 2006
Colombia: Business environment at a glance. Check it out:(EIU Viewswire Via Thomson Dialog NewsEdge) COUNTRY VIEW
FROM THE ECONOMIST INTELLIGENCE UNIT
Policy towards private enterprise and competition
2007-08: Privatisation of banking- and energy-sector assets, and concessions in infrastructure help tackle distortions arising from state involvement and industrial concentration.
2009-11: Competition policies and the protection of intellectual property rights further improve with the enactment of the free-trade agreement (FTA) with the US. Few price controls, gradual elimination of remaining subsidies.
Policy towards foreign investment
2007-08: Open policies prevail. Concessions and privatisation offer opportunities.
2009-11: The FTA with the US further improves the stability of the investment framework.
Foreign trade and exchange controls
2007-08: Compensatory measures for some agricultural and industrial products. Tax exemptions on capital goods imports.
2009-11: FTA with the US eliminates remaining non-tariff barriers; improved trade integration with the Mercado Comun del Sur (Mercosur, the Southern Cone customs union), Central America and Mexico.
Taxes
2007-08: Tax system suffers from complexity and distortions. Reforms focus on reducing income tax rates and simplifying value-added tax (VAT) regime. Anti-evasion measures extended.
2009-11: Some loopholes, distortions and unfairness prevail. Improved enforcement and widening of taxpayer base expected to gradually curb evasion.
Financing
2007-08: Increased competition amid consolidation. Reforms to deepen banking services and the capital market.
2009-11: Gradual narrowing of interest-rate spreads. Low availability of long-term financing persists. Increased competition under the FTA with the US.
The labour market
2007-08: Generally flexible hiring and firing practices. Labour costs in US-dollar terms fall as the currency depreciates.
2009-11: Shortages of skilled labour persist. Added flexibility to labour laws in order to comply with the FTA with the US.
Infrastructure
2007-08: Deficiencies remain a significant constraint, despite security improvements.
2009-11: Investment hampered by fiscal constraints, but private concessions gradually advance. Risk of electricity rationing.
Copyright 2006 Economist Intelligence Unit
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- Tehrani Turns the Page on Zultys - Nov 17, 2006
- TMC Welcomes Russell Shaw to Blogging Family - Nov 14, 2006
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- Colorado's IP5280 Acquires GoXpand's Assets - Nov 03, 2006
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- Aberdeen Announces Data Protection Survey - Nov 30, 2006
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- Tehrani Turns the Page on Zultys - Nov 17, 2006
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- Colorado's IP5280 Acquires GoXpand's Assets - Nov 03, 2006
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- Aberdeen Announces Data Protection Survey - Nov 30, 2006
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- Tehrani Turns the Page on Zultys - Nov 17, 2006
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- Tehrani Turns the Page on Zultys - Nov 17, 2006
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- IR to Port Prognosis to Nortel, Avaya, Alcatel - Nov 13, 2006
- Colorado's IP5280 Acquires GoXpand's Assets - Nov 03, 2006
- Incuity & IDS to Host Business Intelligence Workshop on How to Optimize Manufacturing Productivity, Profitability - Oct 03, 2006
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