Colombian economy

Colombia’s GDP Slows, but Antioquia New-Businesses Growth Comparatively Robust

Medellin Herald January 22, 2016

A new report from Colombia’s national federation of local Chambers of Commerce (Confecamaras) shows that while the growth of Colombia’s gross domestic product (“PIB” in Spanish initials) slipped in 2015 versus 2014, Antioquia continued to support a relatively robust growth of new businesses.

Congresses & Conferences

Medellin Hosts 33,000 Visitors for Annual ‘Colombiatex’ Textile-Industry Spectacle

Medellin Herald January 21, 2016

The 28th annual “Colombiatex” textile industry conference and trade show January 26-28 at Medellin’s Plaza Mayor convention center is expected to draw some 33,000 national and international visitors, more than 500 exhibitors and some 11,000 buyers. According to Medellin-based show organizer Inexmoda – Colombia’s leading textile- and fashion-industry trade association –

Colombian economy

Colombian Industry Resilient as Oil Prices Plummet; World Bank Hails Policies

Medellin Herald January 19, 2016

Unlike its floundering, oil-dependent neighbors in “socialist” Venezuela and Ecuador, Colombia’s capitalist economy and industrial output are showing resilience, as indicated by the latest Departamento Administrativo Nacional de Estadística (DANE) statistical survey. The monthly survey released January 18 shows that factory output in Colombia rose 4.8%

Colombian economy

Medellin Entrepreneurs Aim to Join Export Boom in ProColombia ‘Mipyme’ Project

Medellin Herald January 19, 2016

Colombia government promotion agency ProColombia announced January 18 the expansion of its “Mipyme International” export business-development project, which now aims to boost exports of goods other than petroleum or minerals to a total of US$21 billion this year. “Following the success of the first edition of Mipyme International in 2015, which helped 33 companies to […]

General News

Antioquia Highway Projects Get Financial Boost from Medellin-Based Isagen Sale

Medellin Herald January 13, 2016

Medellin-based electric power producer Isagen announced January 13 that a consortium led by a subsidiary of Toronto, Canada-based Brookfield Asset Management (BAM) paid COP$6.49 trillion (US$2.2 billion) for the Colombian government’s remaining 57% stake in Isagen. The other 43% of Isagen shares are held partly by private investors and partly by Medellin-based electric

Opportunities

Renault, Ernst & Young, High-Tech Companies Seek Bilingual Medellin Candidates

Medellin Herald January 11, 2016

Medellin continues to spark demand for high-tech and management-level professionals – especially those with bilingual (Spanish-English) skills — as evidenced by a continuing flurry of postings by multinationals as well as national companies. Among several recent postings to Linkedin: EY: Global consultancy Ernst & Young (EY) is seeking a senior auditor for

Tourism

ProColombia Touts Tourist Growth; New Niche Opportunities for Antioquia

Medellin Herald January 11, 2016

Colombian government business development promotion agency ProColombia announced January 6 that business and pleasure-oriented tourism to Colombia continues to grow thanks in part to expanded non-stop international flight offerings to major cities including Medellin. For all of 2015, “more than 2.3 million international travelers contributed US$2.4 billion to Colombia’s

General News

Wall Street Bond Rater Affirms ‘Stable’ Outlook for Medellin Public Debt

Medellin Herald December 22, 2015

U.S.-based bond rater Fitch announced December 21 that it has affirmed a “stable” outlook for Medellin’s public debt. “The rating action reflects Medellin’s financial strength, its importance in [Colombia’s] national context as well as its manageable debt metrics,” according to Fitch. The city benefits from a “high and dynamic collection of municipal taxes and

General News

Conconcreto Nabs French Investor Vinci; Unveils Antioquia Port Project

Medellin Herald December 21, 2015

Medellin-based construction giant Conconcreto announced December 17 that it finalized a COP$289 billion (US$86 million) “strategic” investment deal whereby France-based global infrastructure project-development giant Vinci will take a 20% equity stake in Conconcreto. The new alliance not only combines the engineering and construction experience of both companies but also

General News

Foreign Direct Investment in Medellin tops US$821 Million; USA Biggest Source: ACI

Medellin Herald December 21, 2015

The Agency for Cooperation and Investment of Medellin and the Metropolitan Area (ACI) announced December 16 that Medellin nabbed US$821.6 million in foreign direct investment (FDI) from 2012 to 2015 — with FDI investments in 2015 alone breaking all previous records. In 2015 alone, Medellin attracted US$248.9 million in FDI, while the city also separately […]