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Colombian economy 64

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 just-issued annual report by the metro-Medellin-based Alliance for Responsible Mining (ARM) finds that Antioquia and other parts of Latin America are starting to make progress in their quest to overcome enormous problems confronting the gold-mining industry.


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.


First, the good news: The Alliance for Responsible Mining (ARM) and Swiss watch and jewelry maker Chopard announced October 7 that several more mines in Colombia -- beyond those in Antioquia -- just obtained “Fairmined” certification under a joint ARM-Chopard project.


The US Agency for International Development (USAID) and non-governmental organization (NGO) “Acumen” jointly announced October 5 the launch of an “Investing for Peace” initiative that aims to help promote private investment and creation of economic opportunities in poorer, rural areas of Colombia.


Colombia climbed five places – to 61st place -- in the just-released World Economic Forum (WEF) “global competitiveness index 2015-2016.”


The Alliance for Responsible Mining (ARM) and the London-based International Institute for Environment and Development (IIED) on September 24 released the Spanish-language edition of a new study detailing big problems in Antioquia’s mining industry – along with possible remedies.


The “global value chain” opportunities arising for Colombian exporters -- identified in a recent study for Medellin-based Andi (Colombia's industrial trade association) -- could see greater growth if Colombia tackles certain tax, regulatory, infrastructure, energy-cost and labor issues.


Colombia’s economy still suffers a hangover as the oil-and-mining boom of the prior six years has predictably turned to bust, according to a new study for Medellin-based Andi, Colombia’s national industrial trade association.


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About Medellin Herald

Medellin Herald is a locally produced, English-language news and advisory service uniquely focused upon a more-mature audience of visitors, investors, conference and trade-show attendees, property buyers, expats, retirees, volunteers and nature lovers.

U.S. native Roberto Peckham, who founded Medellin Herald in 2015, has been residing in metro Medellin since 2005 and has traveled regularly and extensively throughout Colombia since 1981.

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