Colombian economy

1,000 Biggest Antioquia Companies Account for 80% of Exports

Medellin Herald October 21, 2015

A new study by the Chamber of Commerce of Medellin for Antioquia (CCMA) shows that the biggest 1,030 companies in Antioquia account for 80% of the department’s exports, worth more than US$4 billion annually. These enterprises also represent 52% of Antioquia’s net annual investment in companies,

General News

Antioquia’s ‘Prosperity Highways’ Will Boost Economy, Jobs, Transport: Study

Medellin Herald October 21, 2015

A new study by the University of Antioquia and University Pontificia Bolivariana (UPB) finds that Antioquia’s COP$12 trillion (US$4 billion) “Prosperity Highways” to be built over the next five years will have a huge impact on economic growth, jobs and freight transport logistics. Antioquia’s gross domestic product (“PIB” in Spanish initials) will double within 14 […]

General News

Medellin’s ‘French Connection’ Key to New Electric Tram Systems

Medellin Herald October 21, 2015

Medellin’s investment promotion agency ACI (Agencia de Cooperacion e Inversion de Medellin y el Area Metropolitana) on October 20 touted the city’s French connection for a just-launched, road-based tram system as well as two new, related aerial trams. The roadway and aerial tramway systems – financed via a US$250 million credit from Agence Française de […]

Real Estate

Safest Real-Estate Investments in Metro Medellin: Part One

Medellin Herald October 20, 2015

Foreigners exploring metro Medellin to buy a residence, a commercial property or a rental will find that the safest, lowest-risk approach is to acquire an existing apartment, an existing house, an existing building or a well-defined lot inside a fully permitted “parcelacion.” Another option is to invest in new-build projects that are fully permitted, adequately […]

Real Estate

Safest Real-Estate Investments in Metro Medellin: Part Two

Medellin Herald October 20, 2015

Relatively safe investment options for real estate in Medellin include not only existing houses, apartments and commercial real estate, but also well-defined lots inside fully permitted “parcelacion” gated communities. The “oriente” region (east of Medellin) is seeing an especially strong growth in such “parcelaciones,” with the bulk of buyers represented by those selling

General News

Antioquia’s Gross Domestic Product Grew 7% in 2014: DANE

Medellin Herald October 20, 2015

Colombia’s national statistics agency (DANE) on October 18 released an analysis showing that Antioquia’s gross domestic product (“PIB” in Spanish initials) grew 7% for all of 2014 – third best in all Colombia and more than one-third greater than the PIB growth in Bogota. The construction industry was a key driver in Antioquia’s 2014 PIB […]

Volunteering

U.S.-Based ‘Emiliani’ Charity Aims to Build Orphanage in Metro Medellin

Medellin Herald October 16, 2015

Following in the footsteps of Saint Jerome Emiliani – a former Italian soldier whose charitable works prompted the Catholic Church to name him the patron saint of orphans – a group led by U.S. military veterans is now spearheading a project that aims to help orphans in metro Medellin. The California-based Emiliani Project – founded by former […]

General News

Antioquia Awards Construction Contract for Crucial ‘Toyo Tunnel’ Project

Medellin Herald October 15, 2015

The Antioquia departmental government announced October 14 that contracts have now been finalized for construction of the 9.75-kilometers-long “Toyo Tunnel” project — part of a crucial highway connection between Medellin and a new freight port being built on the Caribbean coast. The “Antioquia to the Sea” consortium that won the “Toyo” contracts — worth

Professional services

Brokerages Offer Flexible Alternative to Banks for Colombia Money Transfers

Medellin Herald October 14, 2015

While a growing number of foreigners are investing in real estate or other types of businesses in metro Medellin, some have found that the process of transferring relatively large amounts of investment funds from the U.S. or other countries can be frustratingly complex, time-consuming – and even costly. Full disclosure: Ten years ago, my Colombian […]

General News

Antioquia Outshines All Colombia in Institutional Management, Public Finances

Medellin Herald October 14, 2015

A just released study by the United Nations Economic Commission for Latin America and the Caribbean (Cepal, in Spanish initials) finds that Antioquia continues to surpass all other departments in Colombia for institutional management and public finances. Antioquia also ranks second (behind Cundinamarca) in over-all “competitiveness,” according to the study. However, the