The Business Year

Close this search box.
Colombia offers a wide array of options for investors in every sector, thanks to its pro-business government and steady GDP growth.

Eduardo Jaramillo

CEO Colombia, General Electric (GE)

The current government and Minister of Energy were quick to see the opportunity for the country to use non-conventional renewables to increase sustainability, improve reliability, reduce cost, and boost the country’s economy by at least USD3 billion of new investment. Today, the government has at least 60 projects to be developed in La Guajira in energy generation. The government sent clear signals to investors by starting construction of the transmission line that will connect wind and solar projects in La Guajira with the national transmission system—GE’s high voltage equipment will be used to accomplish this. Second, long-term PPAs are being signed as part of the first auction promoted by the government, plus bilateral contracts between private parties. All these commitments will need to deliver at least 2GW of new projects by 2023. In the last four years, GE has been working closely with private investors, the government, and industry associations to transform Colombia’s energy matrix, while creating the right business and technical environment to build and operate these projects.

Juan Carlos Restrepo

Head of LEX, British American Tobacco Colombia

We have always distributed our products directly, but we also have distributors that allow us to reach other portions of the market. We reach nearly 80,000 outlets directly in Colombia, and we reach a further 40,000 outlets through third-party distributors. Our major strength has been our distribution capabilities and brands; today, we have one of the most efficient distribution networks in Colombia. In Latin America, Colombia was the first market in which we launched our vaping products, which are structurally different from cigarettes. The government is in the process of regulating these products. As an industry, we work with regulators to facilitate a clear and differentiated regulation. We work with the authorities within the framework of the law to enable them to make informed decisions. These products are a major source of hope for the industry, and we are interested in fully developing this line of business. E-cigarettes are expected to account for around 30% of the market share by 2030 and around 50% by 2050.

Mauricio Gutiérrez

General Manager, Mauricio Gutiérrez

We send a message to investors that Colombia is a country with opportunities and capacity for growth. We must seize the moment and see ourselves optimistically, with double-digit growth challenge in all industrial issues. Colombia is a reference, and our experience here has forced us to develop certain strengths. We have advantages not only as a company, but also as a government with many opportunities. The Superintendence of Private Security Surveillance is a benchmark in Latin America, and we have advantages in terms of regulatory structure. As a company in Latin America, G4S has a more consolidated business in different lines. The technology business in Colombia is extremely important. Our mix is 65-70% traditional physical security, but 25-30% is based in technology, consulting, and security businesses outside traditional surveillance. This is not often the case in other countries. Part of the company’s big commitment is to continue pushing Colombian operations to grow in those businesses.

Jorge Arias

VP Solution Engineering, Oracle

We are working with partners in various Latin American markets, especially Colombia. We have been in the Colombian market for 37 years and have a made a name for the company by managing data for huge clients. Now, we offer clients the ability to translate and convert data into insights and actionable experiences. Innovation is the centerpiece to support new business decisions and models. In general, there are three pillars to being successful. First, companies in Colombia should have the ability to support their current business models while, at the same time, creating new business models to support their future. Second, companies should focus on creating a flexible strategy and staying relevant. You need to create a small team within the organization with the objective of studying the economy and main trends, and reporting directly to the board of directors. The third pillar is education, which is a key component of digitalization.



You may also be interested in...


COLOMBIA - Industry

Maria Ximena Arbelaez


CEO, Bosanet


COLOMBIA - Industry

Natalia Jiménez


Regional Manager LATAM, Deel


COLOMBIA - Industry

Albert Douer


Executive Chairman, Ajover Darnel, Colombia

View All interviews



Become a sponsor