Politics

Colombia Government, FARC Ink Final ‘Peace’ Deal

Medellin Herald August 25, 2016

The Colombian government and leaders of the Fuerzas Armadas Revolucionarias de Colombia (FARC) announced August 24 that they finalized a “peace” deal that supposedly would put an end to more than 50 years of a war – a war that began with Soviet Union backing but gradually evolved into

Companies

Corona: Born in Antioquia 135 Years Ago, Now a Multinational Giant

Medellin Herald August 23, 2016

Colombia-based Corona — manufacturer of porcelain products, construction goods and majority partner in the “Home Center” retail chain — on August 18 celebrated the 135th birthday of its founding in the Medellin suburb of Caldas, Antioquia. According to the company, Organizacion Corona traces its roots to 1881, originally as a ceramic dish-wear producer at a

Colombian economy

Colombia’s Free-Trade Zones See 85% Jump in Exports

Medellin Herald August 23, 2016

Colombia’s national statistics agency (Departamento Administrativo Nacional de Estadística, DANE) announced August 22 that exports from various free-trade zones (“zonas francas”) soared 85.7% year-on-year in June 2016, boosted by favorable peso-to-dollar exchange rates. According to DANE, the June 2016 export jump is the largest recorded since 2011 (see chart,

Companies

PharmaCielo Buys Marijuana Farm, Nursery in Rionegro

Medellin Herald July 25, 2016

Toronto, Canada-based PharmaCielo announced July 25 that it paid US$5 million plus 1.7 million in equity shares for a 27-hectares farm and greenhouse-nursery facility in Rionegro, Antioquia, for development of a medical-marijuana cultivation and processing plant. “The 30-year-old turnkey facility houses an office building and more than 12 hectares of open-air greenhouses,

Colombian economy

Truckers, Colombia Government Settle National Strike

Medellin Herald July 22, 2016

Colombia President Juan Manuel Santos and Transport Minister Jorge Eduardo Rojas Giraldo announced July 22 that a 45-days-long national truckers’ strike – aggravated by acts of violence and vandalism against non-strikers — has finally been settled, much to the relief of freight shippers and receivers. According to the settlement agreement, the

Professional services

Interview: Ruta N a High-Tech Investment Opportunity, but don’t Call it a ‘Silicon Valley;’ Part 1

Medellin Herald July 16, 2016

Medellin’s novel “Ruta N” high-tech development center next to Universidad de Antioquia now boasts that it’s hosting some 135-odd companies from 22 countries (see  http://distritomedellin.org/hacer-parte/) that have chosen to locate inside Ruta N itself or nearby. As part of what the city government calls its “Innovation District,” the seven-year-old Ruta N not only serves

Professional services

Interview: Ruta N a High-Tech Investment Opportunity, Part 2

Medellin Herald July 16, 2016

Medellin’s novel “Ruta N” high-tech development center next to Universidad de Antioquia now boasts that it’s hosting some 135-odd companies from 22 countries (see http://distritomedellin.org/hacer-parte/) that have chosen to locate inside Ruta N itself or nearby. In an exclusive interview with Medellin Herald, Ruta N Executive Director Alejandro Franco and Ruta N

Companies

More High-Tech Investment Seen Coming to Medellin from Uruguay, Brazil

Medellin Herald July 7, 2016

Medellin’s investment promotion agency –“Agencia de Cooperación e Inversión de Medellín y el Área Metropolitana” (ACI) –  announced July 6 that five Uruguay-based companies and two Brazil-based companies are eyeing new business launches or expansions here. According to ACI, these companies expressed interest in new Medellin investments during ACI-organized

Colombian economy

Foreign Direct Investment in Colombia up 64% in Sectors Other Than Petroleum, Mining

Medellin Herald July 5, 2016

The latest report from Banco de la Republica — Colombia’s national currency and banking regulator — shows that foreign direct investment (FDI) in Colombian business sectors other than petroleum and mining has jumped 64% this year, to US$2 billion. However, the global crash in oil and industrial metals prices has resulted in a 47% drop in FDI […]

Colombian economy

Antioquia’s Flower Exporters Harvesting Bigger Profits: Study

Medellin Herald July 1, 2016

A new study by Colombia’s Superintendencia de Sociedades (corporations oversight agency) finds that national flower exporters realized a big jump in profits in 2015 versus 2014. Colombia’s biggest industrial flower producers are mainly located in Antioquia (eastern suburbs of Medellin) and Cundinamarca (outer suburbs of Bogota). In total, 194 industrial flower producers