Duque presents a stable Colombia “ready to do business” in Spain

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Madrid, Sept. 17 (EFE) .- Colombian President Iván Duque presented this Friday in Madrid a Colombia “open for business”, with “political and legal stability”, in which the largest infrastructure and transformation projects in the energy transition throughout Latin America and the Caribbean ”, creative and political industries destined for the fourth industrial revolution.

The second day of Duque’s official three-day trip to Spain had a marked economic character, with the participation of the Colombian president in various forums in which he exposed the advantages of the Latin American country for foreign investments and highlighted the efforts of his country. in clean energies and the fight against climate change.

These are some of the arguments that the Colombian president used in an interview with the president of the EFE agency, Gabriela Cañas, within the framework of the Tribune organized by the Spanish international press agency with the Casa de América.

In it, Duque certified that during his visit to Spain, Spanish investment commitments in Colombia have materialized for more than $ 2,500 million in the infrastructure, renewable energy and service sectors.

According to figures from the Colombian Ministry of Commerce, Industry and Tourism, Spanish direct investments in Colombia from January to June 2021 amounted to 871 million dollars, cumulating 6,340 million since the third quarter of 2018.

He also mentioned tourism as one of the potential Spanish investment in his country: “We want more Spaniards to visit our country and help us turn tourism into new oil,” he said. .

For potential investors, Duque stressed that the tax reform carried out by his executive “of eminently social importance” will not influence companies wishing to establish themselves in Colombia.

In this sense, he explained that the reform maintains a VAT deduction on 100% of capital goods, 50% of local tax on industry and commerce on income tax, the suppression of income flat-rate, “and although the rental rate for companies has increased a bit (to 35%) and is still significantly lower than what we had in 2018”.

PETITION AT THE IMF

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