Exclusive Interview with Javier Torres, Project Manager

In an effort to position Colombia as an attractive destination for foreign investment, the country has launched the One-Stop Investment Window (VUI). This innovative project seeks to simplify and digitalize the establishment processes for foreign investors, thus increasing Colombia's competitiveness on the global stage. Javier Torres, Project Manager of the VUI, gives us a detailed overview of this initiative and the challenges faced during its implementation.

Motivation and Needs of Foreign Investors

“The main motivation is for Colombia to have a mechanism that facilitates the establishment of foreign investors in the country, and to make them more competitive in order to attract foreign investment. Once the investor has identified where there are investment prospects, how do we support them so that their procedures and their establishment process is increasingly simple and digital and thus consolidate this investment in Colombia and not leave for other countries or other destinations,” explained Javier Torres.

Torres also highlighted the main needs of foreign investors: “What the foreign investor is looking for is profitability, legal certainty, to have knowledge of the steps, times, costs, etc.. It is difficult for them because they do not know the dynamics of the State very well. In addition, they have uncertainty due to lack of knowledge of the process, lack of alignment with operating conditions in the country, differences in information (published vs. real) and language barriers.”

The VUI path

“We are working on three lines of action and each one has its problems,” Torres pointed out.

Coordination of the Ecosystem: “The Single Window is not only a point, but an integral digital service that is part of a network where all the entities that participate in the investment cycle must be committed and involved so that together they can accompany the investor on his or her journey. Working together has meant a great challenge and fortunately we have had the capacity to connect, articulate and work collaboratively.”

Governance and Regulatory Scheme: “The governance and regulatory scheme is mandatory and generates a floor for both public and private entities to be part of the One-Stop Investment Window network. Since the CONPES, then the 1644 decree, its respective resolutions, all this has meant a normative and concerted work. Today we also have the SIFAI committee.”

Implementation of the Single Window: “The line of implementation of the Single Window has a component of innovation, mapping of procedures, user experience and platforms. It led us to look for something that is cutting edge, that we can afford and that we can sustain.”

Sustainability of the Initiative: “It seeks to guarantee that the Ministry of Commerce can sustain it, that it can give it continuity, that it can continue to operate both the technological part and the mission part and give continuity to the three previous points.”

With the Single Window of Investment, Colombia is projecting itself towards a future in which foreign investment will flow more easily, making the country an even more attractive destination for global investors. This project, driven by the vision and effort of teams like the one led by Javier Torres, promises to transform Colombia's economic and competitive landscape.

Stay tuned to our upcoming publications for the latest news and developments from Javier Torres, Project Manager of the One-Stop Investment Window project.

Colombia is a global investment hub on the move, and we want you to be part of this exciting journey.

Bibliography:
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