Colombia’s Central Bank (Banrep) released final 3Q17 Foreign Direct Investment (FDI) figures for the country. This increased in the sector compared to same period last year, but dropped compared to 2Q17. Total FDI grew considerably in Colombia.
Perhaps the greatest challenges that Colombia will face with the implementation of the peace agreements, is giving more relevance to rural areas that have traditionally been neglected by the State.
The Ministry of Commerce (MinComercio) has contributed more than CoP$8.7B for the development of this initiative.
The Ministry of Energy and Mines announced the appointment of a new vice minister of energy, Alonso Cardona Delgado.
Investigations on the Reficar scandal are ongoing in Colombia. A judge made a decision about two former directors investigated in this legal process.
The Minister of Mines and Energy, Germán Arce Zapata, spoke about the projects of the General System of Royalties (SGR) that were approved in December of 2017 by the Collegiate Organs of Administration and Decision (OCAD), in the session known as ‘odcatón.’ These and other stories in our periodic Royalties summary.
Electrical engineer Ricardo Humberto Ramírez was chosen by the Ministry of Mines and Energy (MinMinas) as the Mining and Energy Planning Unit’s (UPME) new director.
With the aim of assuring a better distribution of royalties’ resources for the regions,Santander’s Governor Didier Tavera proposed a reform to the General System of Royalties (SGR). These and other stories in our periodic Royalties summary.
The Colombian oil sector had a difficult year as a result of social and legal problems. The country will have elections in 2018 and the industry is concerned about the results of this process.
The government has great hopes for offshore projects to guarantee the country’s energy self-sufficiency in the long term. Authorities have created several regulatory standards to promote the development of these new projects.
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