November 3, 2014
World Bank: Colombia, Top Economy in Latin America to Do Business
On Wednesday, October 29, the World Bank Group released a new report, “Doing Business 2015: Going Beyond
Efficiency,” which ranked Colombia as the top economy in Latin America to do business and 34th in the world out of
189 countries. The report also found overall improvements in the business environment in Latin America due to
significant reforms to business regulations. In fact, Colombia has implemented 29 regulatory reforms since 2005 –
the most in the region.
According to the World Bank’s “Doing Business 2015” fact sheet on Latin America and
the Caribbean: “Colombia made transferring property easier by eliminating the need
for a provisional registration. In addition, it improved access to credit by adopting a
new secured transactions law that establishes a functional approach to secured
transactions and a centralized, notice-based collateral registry. The law broadens the
range of assets that can be used as collateral, allows a general description of assets
granted as collateral, establishes clear priority rules inside bankruptcy for secured
creditors, sets out grounds for relief from a stay of enforcement actions by secured
creditors during reorganization procedures, and allows out-of-court enforcement of
collateral.”
Click here for more information on doing business in Colombia and the region. To
read the full “Doing Business 2015” report, click here.
Photo Credit: World Bank Group
Prince of Wales and Duchess of Cornwall Visit
Colombia
Last week Prince Charles, Prince of Wales, and his wife
Camilla, Duchess of Cornwall, visited Colombia aiming to
further strengthen the UK-Colombian relationship. Arriving
last Tuesday, October 28, the Duchess and Prince of
Wales spent two days in Bogotá and were received by
Colombian President Juan Manuel Santos and First Lady
María Clemencia Rodríguez de Santos at the presidential
palace.
During a dinner on Wednesday, Prince Charles delivered
remarks, commending the Santos Administration’s
commitment to ensuring lasting peace in Colombia:
Official photo of the visit of the Prince of Wales on Wednesday at the Presidential Palace. (L to R)
Duchess of Cornwall, Prince of Wales, President Santos and the First Lady; Photo Credit: César
Carrión/Presidencia de la República
“… If I may, I would like to take a moment this evening to
congratulate President Santos for his leadership and
vision in advancing the peace process. We know from our own experience in the United Kingdom that the
achievement of lasting peace and reconciliation takes time, political leadership, courage and public support. What a
unique contribution to this fractured world it would be if Colombia – in all its cultural and regional diversity, and
having suffered such a dreadfully painful conflict for so long – could find a lasting and durable peace. What an
inspiring signal this would send…”
Following Bogotá, the royal couple traveled to La Macarena national park in Meta, and concluded their visit on
Friday in Cartagena.
On Thursday, President Juan Manuel Santos and the Prince of Wales visited Caño Cristales, in the
Sierra de La Macarena. Photo Credit: César Carrión/Presidencia de la República
Prince Charles receives a warm welcome from the residents of La Macarena. Photo Credit: César
Carrión/Presidencia de la República
Ambassador Villegas Highlights Investment
Opportunities in Colombia for Cincinnati
Businesses
Last week, Colombian Ambassador to the United States
Luis Carlos Villegas was in Cincinnati to meet with
business leaders about the trade and investment
opportunities that exist in Colombia for local companies.
He was also in town to preside over the Hispanic
Chamber Cincinnati’s 2014 Dinner Gala.
The Ambassador was pleased to be back in Cincinnati, a
city he spent time in when he was an exchange student
Ambassador Villegas at Purdue University; Photo Credit: John Underwood/Purdue University
studying American history at Xavier University. In an
interview with the local ABC News affiliate, WCPO-TV, Ambassador Villegas said, “I have fond memories of
Cincinnati from my time here as a student, and I am looking forward to being back in the city after so many years. …
That was in 1976, 38 years ago. … If my memory serves me correctly, the Reds won the National League
Championship that year, and to this day I am the proud owner of a Pete Rose autograph.”
In addition to Cincinnati, Ambassador Villegas made a stop at Purdue University on Wednesday, where he
participated in a University of the Future Workshop, which was attended by Purdue President Mitchell Daniels,
deans, students, among others.
In Case You Missed It:
•
“Colombian Ambassador Hopes to Land More Cincinnati Business,” WVXU-FM (NPR), October 30, 2014
•
“Reds Fan & Xavier Musketeer For Life: Colombia’s Ambassador to the U.S. Makes a Stop in Cincinnati,
WCPO-TV, October 30, 2014
I n O t h e r Ne w s …
On October 23, the Embassy of Colombia hosted a THIS (The Hospitality and Information Service) for Diplomats
event at the Residence of the Ambassador. Guests were greeted by the Ambassador’s wife Mrs. Carmela de
Villegas, enjoyed Colombian coffee and other national dishes, toured the Residence, and viewed the exhibition of
Colombian artist Pilar Jimenez.
Pilar Jimenez, Jacqui Michel, Cultural Attaché for the Embassy of Colombia Tatiana de Germán Ribón and the Ambassador’s
wife Mrs. Carmela de Villegas. Photo Credit: Embassy of Colombia
Get to know Colombia.
Learn more at www.colombiaemb.org.