Juan Carlos Mathews
Economist and Former Minster of Foreign Trade and Tourism of Peru
Lima, Peru
juancarlosmathews@gmail.com

LATAM FDI: Hello. We’re honored to have Juan Carlos Mathews, a distinguished economist and former Minister of Foreign Trade and Tourism for Peru, with us today. Hello, Juan Carlos. Could you share your background before we delve into Peru’s foreign direct investment opportunities?

Juan Carlos Mathews: Thank you for your invitation, Steven. As you mentioned, I am an economist. I have mainly worked in the private sector in international trade. I was also the Peruvian government’s vice minister of SMEs and industry. Until recently, I was the Minister of Foreign Trade and Tourism. I have also been involved in academia, working for two private universities in Peru. My experience spans international trade and the private and public mining sectors.

LATAM FDI: That’s interesting. Given your knowledge, which is very broad, obviously, what sectors do you consider to be the most promising for foreign direct investment opportunities in Peru? Are there any emerging industries or markets that are particularly attractive?

Juan Carlos Mathews: The ones referred to are in the mining sector, mainly because 60% of Peru’s total exports are minerals and metals. We are still developing different projects, in most cases through joint ventures with some of the prominent investors in this field.

For example, Newman is an Anglo-American investing in Quellaveco, a big project here. But during the last decade, our agro exports have experienced exciting growth. I’m talking about fruit, not only fruits and vegetables, our superfoods, but also seafood products. We are increasing the production with excellent levels of quality, and in most cases, through foreign direct investment in some cases and joint ventures in others. That big area of agro-industry and seafood products is also an attractive sector in which to invest. Some small sectors are rolling very fast. We refer to, for example, the export of software. In Peru, we are developing different software for USA, Spain, and India companies. We are a very open economy. In most cases, we invite investors here in Peru. Through joint ventures, they are exporting the products to those countries where we have a free trade agreement.

For example, we have been negotiating a free trade agreement with India and the USA as a big market. They are thinking not of Peru; they are thinking of the USA. But by taking advantage of foreign direct investment opportunities in Peru, they are going to produce it, in some cases, at a lower price, and in all cases, at a lower rate from Peru to sell in the US. Almost all cases, there is no import tax due to our free trade agreements. For example, the mining, agribusiness, and software sectors are interesting areas where we have grown fast during the last few years.

LATAM FDI: In particular, regarding mining and agribusiness, before we started recording, we were talking about the Puerto de Chancay project.

Juan Carlos Mathews: Yes.

LATAM FDI: Can you briefly explain how that project will facilitate Peru’s overseas sale of mining and agricultural products?

Juan Carlos Mathews: Today, the main port in Peru is  Callao. Callao represents more than 80% of Peru’s total trade and imports. We have two big global players operating there: APM Terminals from Denmark and BP World from Emirates in the southern part of the port. They have invested a lot during the last few years, but we have discovered the advantages of developing this port, which is 76 km north of Lima and very close to Callao. Depth is one of the significant advantages and a positive for foreign direct investments in Peru. We can receive a vessel with a capacity of 21,000 containers. It’s a very, very big vessel. It means a reduction in terms of cost because of economic skills. However, the main advantage is that we can go directly to Asia, particularly China. That’s why the slogan from Chancay to Shanghai exists: the name of our port to Shanghai, the port in China. It represents a reduction in terms of rate of 10 days. Instead of 45 days, it will take 35 days to move from Chancay to China. In the case of products from Brazil, instead of going through the Panama Canal, there will be a reduction in the rate of 16 to 17 days, which is quite a lot. This is another positive for foreign direct investment opportunities in Peru.

It’s very, very important. The idea is to transform it into a hub for South America. We are considering the demand for Peruvian products and goods from different countries.

LATAM FDI: One of the most important things companies that want to invest in a country consider is the workforce. Could you describe the quality and availability of the Peruvian workforce? Are there particular skills in industries where Peruvians excel?

Juan Carlos Mathews: Yes, maybe you can find some differences because, in the mining sector, we have… Well, it is improving the labor in that sector in Peru.  In some cases, the investors also bring people from around the world. We have a lack of capacity in that field, specifically. But in the case of agribusiness, we are also teaching to some of our neighbor countries because we have developed a very strong agro-industry due to our climatic conditions, excellent position, and the possibility of exporting the product during the entire year. We have created a robust industry. In northern Peru, companies can be here, in California, or wherever because they have global standards. In that area, in the agro-industry, I think we have enough well-formed labor used in the supply chain. A difference with the mining sector is that we can find some areas where we need labor from overseas.

LATAM FDI: What’s the relationship between labor and business? For instance, have any recent labor market reforms taken place or may take place in the future that could affect foreign direct investment opportunities in Peru?

Juan Carlos Mathews: When I was in the government, I saw a complete reform of the labor system in Peru. But it is tough to implement because always when you have it ready, from the technical point of view, it is prepared. But from the political point of view, it’s a big issue. You don’t know when the right moment is. You will never find the proper time to do it. You have to do it because you have to do it, but you have to do it, considering that you will face some social problems. In some cases, for example, in Peru, you can start working in a company and immediately have one month of vacation. That’s too much. Everybody’s used to it. It’s a right that the people think they have and are unwilling to accept changes in that instance, to mention a specific point. However, if you compare the labor costs for an entrepreneur, it is usually higher than in all the other countries in Latin America. So that’s a weak point. That’s an essential question because facing that problem is necessary.

I think a new government will face the possibility because these reforms should usually be implemented at the beginning of a government, not at the end. In 2026, we are going to have elections. I think the new government will be able to look at Peru compared to other countries. According to the World Economic Forum, we are in an unfavorable position in education, health, infrastructure, science and technology, and the solidity of institutions. Within these five significant areas, you can identify some others, such as the one you mentioned and the labor related to this. I agree that it is a crucial point, a critical reform that has to be done. But as I mentioned before, it is tough to expect a reform like this to happen in the next one and a half years.

LATAM FDI: What incentives does Peru offer to attract foreign direct investment? Are there any tax breaks, grants, or other benefits from which foreign countries can benefit?

Juan Carlos Mathews: Yes. The foreign investor has the same conditions as a national investor. The same conditions. But maybe in two months or earlier, you will have a new law referring to the economic, special economic zones. We have had free zones here in Peru throughout history, but not exactly as they work in the USA and different parts of the world. I have been participating in the law, and the idea is to have clear incentives. The problem with incentives here in Peru includes tax incentives. The Ministry of Economy and Finance is sometimes unwilling to accept this incentive. Of course, we showed them the cost and benefit of those measures. You are taxing companies that are not in Peru. They are going to generate income for Peru. So, it is understandable that we have to give them incentives. You are competing with other countries at the same time. We have natural incentives. In some cases, I have been in different places in the UK, Australia, and Spain, talking with investors, and most of the questions referred to macroeconomic stability and legal security.

But there are more than incentives, tributary incentives, or financial incentives. But in some cases, it is a need. If you are working in the jungle of Peru or the highlands of Peru, in some cases, you need this incentive, or otherwise, you will not be competitive. Our advantage is that, in some cases, our resources are so vital that we can compete without offering some tax incentive. But I think if we have the opportunity to talk again in less than two months, we will have a clear idea of the law that will be launched soon.

LATAM FDI: That’s a good reason to have another conversation shortly. But what about political stability in Peru? How has Peru’s political stability recently affected the business environment and economic policy?

Juan Carlos Mathews: Yes. Our group is extraordinary for some people because you can see the macroeconomic indicators not during the last year but over the previous 20 years. You will see that our economy’s performance is better than the average in Latin America. In some cases, indicators like inflation are the best in Latin America. This is good for foreign direct investment opportunities in Peru. But at the same time, we have had six presidents in six years. How can we say we have political stability? We can say we have macroeconomic stability, but it does not sound logical because the economy and politics are linked. But mentioning this, I have to recognize that we are always in similar situations. You cannot be bored in Peru. You must read the news constantly because you will be aware of different things daily. I think that, yes, we are having a lot of discussions and uncertainty in terms of the political arena. But in the end, the entrepreneurs know how to deal with that. When I talk, for example, with Anglo-American, this is a massive company that is investing in Quellaveco in the mining sector.

I have been talking with them twice in the UK and the Emirates in the last six months with the CEO, and they were planning to expand the investment in Peru. All the questions refer to macroeconomic stability and legal security. Some questions refer to the political situation, but understanding that it is almost standard in Peru. So it is not affecting decisions too much. But I have to be frank. Of course, the entrepreneur’s expectations and trust in the system have been affected. So, it is recovering. Despite the situation in Peru, it is recovering slowly, unfortunately, because I think the flow of foreign and domestic investment would undoubtedly be higher in other conditions.

LATAM FDI: What advice would you give to parties looking for foreign direct investment opportunities in Peru for the first time?

Juan Carlos Mathews: My best advice is to believe in a joint venture. I am a believer in strategic alliances for both parties. I mean, for the Peruvian part, because it is going to receive know-how from the company that comes from the USA, for example, and through a USA company, because we know how Peru works better. If you look at the figures showing many high levels of corruption, some people do not trust the judicial system and prefer not to invest in Peru. But if you do it through the correct partner, you can understand that there are some routes to do it correctly, and the risk would be reduced significantly. The critical issue is to select the correct partner. Not any partner, but a correct one. But my advice would be in that sense because I have seen a lot of problems, even with Latin American companies. You can hear in Latin America that Latin America is only one. It’s not only one. There are some significant differences between Colombia and Peru, Peru and Argentina, et cetera. I have seen a lot of Peruvian investment in those countries, and investment from those countries in Peru can have many problems.

It is not so easy. You have to understand even the idiosyncrasies, the punctuality, and many other things that are characteristic. In some cases, it is good, and in some cases, not so good, but through a partner, you can do it better, I think, or at least a representative that can translate all you have, the reality of Peru.

LATAM FDI: You mentioned changes in government, but despite those changes, could you comment on how open the Peruvian government is to collaborating with foreign businesses and addressing their concerns? Did they work well with business?

Juan Carlos Mathews: Yes. For example, I was the Minister because I talked clearly with the President and the Prime Minister to understand if they favored the investment. If they told me I was not in favor of the investment, I would say, Thank you very much, I won’t participate. It’s as straightforward as that. I’m a professional, and I’m not a politician. I received support from the government during this year that I have been working for the government. The idea is that we have 22 free trade agreements. They include investment protection, and we are negotiating six additional ones with Hong Kong, the mobilization of the free trade agreement with China that will be ready in the next 15 days, and the negotiation with India, Indonesia, the Emirates, and Morocco. That reflects our belief that the open economy is essential for our development.

LATAM FDI: Given that and Peru’s openness to opportunities for foreign direct investment, how would you compare Peru to other regional countries in terms of its ability to attract foreign investment? What sets Peru apart?

Juan Carlos Mathews: Yes. In some cases, I have to say, unfortunately, that in some cases, the great advantage is the natural resources, location, and the free trade agreements we have. I said, unfortunately, because I think it is a need of what you mentioned before, specific incentives to move faster this investment in different sectors that we need to improve. But the location is critical. That’s why we were talking about Shanghai and ports, not only the port but also the airports. We will have a new airport at the end of the year in Lima, in Callao, and it will be ready at the end of December. We are improving the airport in Cusco, which will be prepared in two years. We have habilitated two more in the jungle and the highlands. We are investing in infrastructure, and that keeps considering the location of Peru with this investment in infrastructure is a crucial point. Natural resources, of course, we have to improve the specific promotion of some incentives. Still, with the conditions that we have, even the foreign investor, the same conditions as the national investor, I think we are an attractive place to do it.

As I mentioned, the investors are asking for macro-stability and legal security, but in some cases, they also ask about the political situation. I’m trying to say that in the short term, if we have a clear idea of what will happen in the coming five years for our country, there will be a very significant increase in investment. I have been, for example, when I was in, I think it was in New York, and I was taking a coffee after a conference, I’ve referred to a portfolio of investment. One of the investors was talking with another one, and they said that two countries should invest in Latin America: Peru and Colombia. We have to do it right now because we will have one or two years of advantage when the competition comes. After all, it is going to change for good. They mentioned this, not me, as a Peruvian, but the two investors participating in the forum. That’s the impression that, in some cases, some investors have when they evaluate the complete situation in Peru.

LATAM FDI: Well, we’ve covered quite a bit of the topic in this podcast for the past 20 or 25 minutes. We find that listeners to these recordings often have questions after they’ve absorbed the information that has been presented to them. We like to make our guests available to people with questions. How would somebody with a question from what they heard in this podcast contact you? Would that be something that you’d be willing to do?

Juan Carlos Mathews: Yes, I can give you… Well, you have my contact information, and you can transmit the questions to me. I would be glad to answer them.

LATAM FDI: Well, what we might do, and what we usually do for our guests, is put a link to their LinkedIn page in the transcript section of the podcast so that people can go directly to you. We’ll add your phone number and email address. Is there a website that you have?

Juan Carlos Mathews: Yes. I said yes because I was referring to the institution where I work, but I don’t have a personal one. However, I can put my phone number and my email.

LATAM FDI: Okay, we’ll do that. We’re happy you chose to speak with us today. We wish you a lot of luck in attracting foreign investment in Peru and look forward to having a future discussion with you when you know more about the special economic zone law being worked on in Peru.

Juan Carlos Mathews: No, thank you very much. It has been a pleasure, Steven, talking with you. Bye. Take care.

Carolina Rosales Gonzalez
Executive Director
Invest in Cartagena and Bolivar
Cartagena, Colombia
crosales@investincartagena.com

LATAM FDI: Hello. Welcome to this episode of the LATAM FDI podcast. Today, we have Carolina Rosales-González with us. Carolina is the executive director of an organization in Cartagena, Colombia, called Invest in Cartagena and Bolivar. Welcome Carolina. Please tell the audience a little bit about yourself and your organization.

Carolina Rosales-González: Thank you very much, Steven, for having me. As you were saying, my name is Carolina Rosales. I’m the Executive Director of Invest in Cartagena and Bolívar, the local Investment Promotion Agency of a beautiful region on Colombia’s Caribbean Coast. It’s been a year since I assumed the position. Believe me, Steven, working for a city and an area that is full of opportunities and with this enormous potential, is very gratifying. I’m sure we will talk about the opportunities to invest in Cartagena and Bolivar through this podcast. It is a pleasure. I’m thrilled to be here. I expect to give you all the highlights needed to invest in Cartagena and Bolivar. So, thank you very much for having me. Thank you very much for this opportunity to promote our territory.

LATAM FDI: Well, it’s a pleasure to have you here. Your region is fascinating, and I’m sure it’s beautiful there in Cartagena, being in the Caribbean. That being the case, how does its position in the Caribbean affect foreign direct investment that arrives in your region? And how do these activities contribute to the growth and development of investment in Cartagena and Bolivar?

Carolina Rosales-González: Well, I would like to give you a context about the Colombia FDI flows, and then we can get a more profound overview of investment in Cartagena and Bolivar. And, of course, we used the strategy to increase the number of investment projects in our territory. So, first of all, in Colombia, FDI flow has grown in the last eight years. This is very positive for our country compared to other situations in Latin America and worldwide. The main sectors where FDI has been focused in Colombia are financial business services, the oil and gas sector, which makes regarding our offer in Colombia, and then the transport, restoration, and communications sector, half the 10% of the share of the total of the FDI flows receiving in Colombia the past years. Regarding investment in Cartagena and Bolivar, according to the data report by Invest in Cartagena, the sector’s investment interest for the last years has been on infrastructure, followed by renewable energies, and 50% of the total has focused on software and IT services. The reason for the data is significantly related, Steve, and this information drives how we run the investment strategy from the agency’s perspective. 

As you said, Cartagena and Bolivar are strategically located on the Caribbean Sea. So this means that Cartagena and Bolivar have fluid, maritime, and river connectivity. We are just three days, for example, by boat from the Coast of Florida and five days from the East Coast of the United States, also our leading commercial partner. We are only a two-hour flight from Florida and one hour or maybe less to Panama. That is 45 minutes, if I’m not wrong. And we are only 265 nautical miles from the Panama Canal. For that reason, Cartagena and Bolivar are the most connected cities on the Colombian Caribbean Coast. Have you been to Cartagena before?

LATAM FDI: Unfortunately, I’ve never been to Cartagena.

Carolina Rosales-González: You have to. Cartagena and Bolivar are regions full of natural attractions. We have a natural bay, for example, and we have an authentic and magnificent historic center that anyone must have the opportunity to come to visit. We are the jewel of the crown in the tours offered in Colombia. Cartagena is a World Heritage site that was declared by UNESCO. We also have two additional World Heritage locations in the Department of Bolivar. They are Mompós, and Palenque. Those comparative advantages are related to our area, and I will mention many other reasons. From the agency Invest in Cartagena and Bolivar, we have prioritized seven sectors in which Cartagena and Bolivar represent an investment opportunity. The leading sectors in our investment include opportunities in terms of infrastructure; Cartagena, for example, is the first leisure and lovely destination in Colombia. We have a consolidated hospitality investment in Cartagena and Bolivar. We have important brands such as Accord, Hilton, Hyatt, Marriott, etc. So, indeed, Cartagena is the Jewel of the Crown. You have to visit one day. If you are in the United States, you are very close, as I said before. Another thing important about Cartagena’s investment opportunities related to our location is that Cartagena is the most efficient port area in the Caribbean.

We have sixteen different terminals with different vocations, but one of those terminals owned by Group Port of Cartagena has been working as the third most efficient port in the world. So, it is essential to highlight Cartagena’s logistic platform with this natural advantage. Also, we have to start expanding our local airport. And there is also a new airport project that will have all of our capacity now. It will also be the brand new cargo airport on the Caribbean Coast. This is why Cartagena is consolidating itself as an export platform for the manufacturing industry and a logistics hub. Regarding the manufacturing sector, I don’t know if you know about that, but we host the most critical and sophisticated refinery in Latin America. Have you heard about it?

LATAM FDI: No, I wasn’t aware of that.

Carolina Rosales-González: Okay. We have the most sophisticated refinery. And since then, we have developed a strong value chain with well-known international chemical brands. We are the most vital city in Colombia in the petrochemical sector. We have brands, for example, like Dow, Axalta, Yara, and Pasco Wave in Cabo. Cartagena and Bolivar are the cities after Bogotá, Colombia’s capital, with the country’s most free trade zones. You know that a free trade zone is a mechanism we use to attract investment in Cartagena and Bolivar. All those things improve critical manufacturing processes, such as construction materials, metalwork, and the working industry that uses our region to reach new international markets. So this is another reason why Cartagena has all the potential to attract new investment in Cartagena and Bolivar. In addition, this is very particular to our city; the country’s essential shipyards are located in Cartagena, of course. It is related to our location. The data shows that 85% of the naval repair workshops nationwide are focused on the Department of Bolivar. So, this is Cartagena, half a very Navy history or past. So, we developed the city’s past and built this strong shipyard industry.

We are very focused on or specialize in constructing Navy ships for the Colombian government and other international governments. Do you have any questions about why you have to choose to invest in Cartagena, Bolivar, and all the sectors I have mentioned?

LATAM FDI: Well, one of the first things that people ask about a location, besides the significant economic activities, is what educational infrastructure a place like Cartagena and Bolivar has. How does Cartagena and Bolivar support workforce development? Can you give us a little idea of how that happens?

Carolina Rosales-González: Yes. I will finish the idea if you want because I have mentioned two promising and trending sectors leading our investment in Cartagena and Bolivar: the IT industry and the energy transition. It would be best if you could talk about our skill labor because it’s very related. I’m going to finish this idea, and then I’m going to answer your new question. The IT industry is significant. We have another natural advantage: Cartagena has five transoceanic cables that allow an efficient wireless connection to the Internet. And about skilled labor, the city can now have a bit of difficulty compared to other important cities in Colombia or worldwide. Concerning energy transition, Cartagena is one of the four cities with the highest operational capacity and production of renewable energy. In the north of the Department, we also have the advantage, like in La Guajira, of having significant potential to generate wind energy. Cartagena also has two green hydrogen pilot plants in Colombia. So, the previous strategy I mentioned to invest in Cartagena and Bolivar contributes to our economic development in diverse ways, especially in employment generation.

So that’s why I wanted to finish that idea: attaching the employment generation to our education offer is essential. Also, the projects in Cartagena and Bolivar often focus on employment and opportunity generation in the area of influence where they develop. This also positively impacts the communities and Cartagena and Bolivar society. So that is important to mention. On the other hand, we are looking at those projects to invest in Cartagena and Bolivar; those projects integrate very, very accurately into the local productive chain so that the local providers can see the highest quality standard to meet the international companies’ demand. Those things prepare our skills, our specialty, and our educational offer. An important thing you must know about the Cartagena workforce is that according to the Ministry of National Education data, the labor force in Cartagena is mainly condensed at the university level. A little more of the 50 % are at the university level, all the way by technological level, and then we have the master’s degree level with the total participation on this part. The gender level is fundamental, and I like to mention it a lot because the gender level, 56 %, sorry, of the graduates of Cartagena and Bolivia are women, and the remaining percent are men.

Females dominate the workforce in Cartagena and Bolivar, and the principal areas of knowledge focus on economic science and urban engineering. This takes excellent value because it’s very focused on Cartagena’s industrial vocation, especially in sectors where growth and development have occurred—for example, renewable energy, the Navy, training, and the IT industries. So, as you can see, the workforce is very prepared to meet the needs of companies that seek to invest in Cartagena and Bolivar.

LATAM FDI: Can you provide examples of foreign companies that have chosen to invest in Cartagena y Bolivar? And what factors influence their decisions? What benefits have they derived from operating in the region?

Carolina Rosales-González: The benefits: Maybe we can talk a little bit later about the actions that our local governments are taking to improve the relocalization of companies because Cartagena and Bolívar have launched a tax incentive policy so we can talk about that before. But I don’t know if you want to hear about our natural advantage, and then we can discuss the tax incentive programs. Let me know, please.

LATAM FDI: That’d be great.

Carolina Rosales-González: Okay, so I think one of the main reasons why an investor could choose to invest in Cartagena and Bolivar is because our strategic location, as I was saying, Cartagena and Bolivar, is recognized by the container port performance index as the third more efficient port in the world. We can connect to more than 140 countries. We can reach more than 840 ports around the world. For any company that may be looking for an export platform or a site that could allow us to get another Cartagena, it is the best option for them in Latin America. Also, we were talking about skilled labor. There is a fact I like to mention a lot. All the investors must consider that because Colombians, not only Cartagena but also the Colombian workforce, are very special. A recent study has concluded that Colombian workers are satisfied with their work lives.

LATAM FDI: Maybe you could fill us in on what that means.

Carolina Rosales-González: Okay. It is a study that measures people’s happiness levels at work. In Colombia, 88% of the employees declare they are happy at work. Beyond the remuneration, they value the sense of belonging and the emotional side of employment. This is a crucial key driver in improving investment in Cartagena and Bolivar. For me, it’s valuable because you can have the people, but if they are not motivated, your project may not work. This is an essential fact about our happiness at work, not only in Cartagena and Bolívar but in Colombia.

LATAM FDI: How would you characterize issues beyond human resources and the industries in Cartegena and Bolivar? What about the region’s transportation, logistics, and connectivity infrastructure? How does it facilitate business operations, and how does it act to impact the companies that invest in Cartagena and Bolivar?

Carolina Rosales-González: As I was saying, Steven, we have the most efficient port in Colombia. We have the third most efficient port in the world. We also have a natural bay with, I don’t know, sixteen different terminals with various locations to move cargo. We have many free trade zones that, of course, are facilities to look for a site to operate with tax incentives and an excellent logistic infrastructure. We will soon have a brand new airport, allowing Cartagena to have the intermodal logistics. Yes, the intermodal logistics, because we are experienced in the maritime sector, but we must develop expertise in air cargo. This new airport will allow us to move oversized cargo through the sea and develop new sophisticated industries that use less volume to reach another market.

LATAM FDI: The final question I’d like to ask is, what has the government of Cartagena and Bolivar done in terms of initiatives and policies to support both foreign and domestic investors, and how effective have they been in creating a favorable business climate?

Carolina Rosales-González: Okay. Regarding the business climate, Steven, progress has been made for companies that invest in Cartagena and Bolivar in simplifying and making efficient the procedures that all the investors must perform when landing their operations in our territory. The achievement that we can stand out in this company is creating and implementing a business platform, a one-stop window called VUE, or Ventanilla Unica Empresarial. This mechanism allows all investors to conduct their procedures, consult benefits, news, and more about our city’s business creation. Also, we developed a technological tool, a one-stop window, but for the construction sector. So, this technological platform allows, for example, an investor to know the entities of control and the steps they have to take to fill out all the requirements on some services that, for example, you have to do to build a hotel or to create a property. That technological advantage or development makes the information and guidance an investor needs when arriving to invest in Cartagena and Bolivar easier. Fortunately, we can achieve that. Another significant technological development is the investor information system we developed with Invest in Cartagena and the mayor’s office.

The platform allows all the investors that wish to establish in our city to have a guide that completes step by step the regulation, the needs of business creation, all the requirements for it, for example, obtained permits, and all the things that you have to do to form an establishment here in Cartagena. Another important thing I mentioned before is Bolivar, as a department, launching nine municipalities of the Department, local incentives related to exemption on local industry and comfort tax, and the unified property tax. So, in the Department of Bolivar, we have forty-six municipalities, and in nine municipalities, we have those incentives. Recently, the mayor’s office presented a project also to improve the relocalization of companies seeking to invest in Cartagena and Bolivar, giving the same time tax exemptions on industry and commerce tax, and the unified property tax, and urban tax to those companies that are located in Cartagena, generate local employment, and do essential amounts of investment in our city. So now we are waiting for its approval.

LATAM FDI: Well, we got to the point where, in a very short period, we’ve covered many areas about investing in Cartagena and Bolivar. Our experience is that listeners to our podcast often have follow-up questions after hearing the information our speakers have presented. We like to create an environment where our listeners can converse with our presenters. That being said, is there any way that anyone who has a question about what you’ve said and perhaps a desire to invest in Cartagena and Bolivar, is there any way they can contact you?

Carolina Rosales-González: Yes, of course. Indeed, we have our social media contacts, but I don’t know if I can write you down my email or put it anywhere visible on the podcast platform, my contact email, or my number. So, anyone with a question interested in Cartagena would be received with the greatest happiness from me and my team. We hope that that occurs. We hope all the highlights we provide here give all the investors a valuable alternative to invest in Cartagena and Bolivar. We can continue generating value from the agency and betting on our region’s and country’s growth. For the entire audience, Steven, it is, please, a big greeting. If you are concerned or interested, please get in touch with us at this email: crosales@investincartagena.com. This is my personal. I will be very attentive to any request, and our agency will be very happy to support you and make your decision to invest in Cartagena and Bolivar easier, and, of course, help you achieve your business goals.

LATAM FDI: Okay. Typically, we’ll do it in the transcript section of the podcast; if it’s okay with you, I’ll put your name and make it a link to your LinkedIn page so that people will have it to you. I’ll provide the email address you mentioned and a link to your website so that anybody with any questions can go straight to you and get the answer.

Carolina Rosales-González: That would be great.LATAM FDI: Well, thank you for joining me today. I appreciate it. I enjoyed our conversation, and I hope you have an excellent rest of the day.

Carolina Rosales-González: Thank you very much, Steven, for the time, for the generosity, and for the opportunity for this space to present the Cartagena and Bolivar potential. We hope everything we said in this post is helpful to the investors. And we are very attentive to anything that you may need. Cartagena is waiting for you. Cartagena and Bolivar are waiting for you. So thank you. Thank you very much. Have a good day, too. Thank you. Bye-bye.