CNCC, ProColombia, and the Colombian Embassy in the kingdom of Norway, held an informative update on the current situation in Colombia for Norwegian Investors. The meeting highlighted some of the events that have been affecting the Colombian economy this past year such as Covid-19, the current demonstrations and refugee-situation.
On the 10th of June 2021, CNCC, ProColombia, and the Colombian Embassy in the Kingdom of Norway held an informative update on the current situation in Colombia for Norwegian investors for CNCC members and partners only. The event was moderated by CNCC Managing President Alejandra Neira with interventions from Jose R. Puyana, Executive Director, PROCOLOMBIA UK, Ireland and the Nordic Countries joining virtually from London, and Laura Margarita Rodriquez Chaparro, Trade representative ProColombia Nordics joining from Oslo, where they highlighted how the covid-19 pandemic, and the demonstrations has affected the Colombian economy. The intervention was followed by the answering of pre-submitted questions by CNCC Members and Partners.
Colombia has been one of the strongest countries for economic growth in the region. The Covid-19 pandemic has been a global challenge and hit Latin-American countries quite hard. 2020 consisted of several lock-downs in Colombia, there has been a growth in debt and as a consequence of the challenging situation, Colombia experienced a small recession. This year the economy has started to recover. The government has for many years been supportive of development in the private sector and wish to continue to uphold their bond with investors. The country is viewed as an ideal investment destination. Despite the riots and demonstrations that are currently happening in the country, investors are optimistic and believe in the future of Colombia.
The protest began as a social reaction toward the current economic situation which resulted from the pandemic and a tax reform (which was later revoked). Trade unions have started negotiations with the government and so far had quite positive results. Police brutality has been a media focus, and has had consequences for other countries’ perception of Colombia. The president has proposed a police reform which will focus on its relationship with the army and stress the importance of human rights.
