Within the framework of the XXXIV Annual Assembly of Affiliates, the National Association of Industrialists pointed out that “special attention should be paid to the growth projections of the Colombian GDP”, given that the dynamic economic growth “continues to be lower than the national average”. Unemployment and informality, the other challenge to overcome.
Diary of Huila, economy
By: Gloria Camargo
The Tolima-Huila Section of the National Association of Businessmen of Colombia (ANDI) held the XXXIV Annual Assembly of Affiliates in the city of Ibagué, an event attended by more than 80 prominent representatives of the region’s productive sector.
Special guests included ANDI President Bruce Mac Master; the president of the board of directors of the Tolima-Huila section, Rodrigo Aragón Rubio; the sectional manager, María Cristina Lara from Valencia and the governor of Tolima, Ricardo Orozco.
During the installation ceremony, Rodrigo Aragón Rubio emphasized the commitment of businessmen in the region to create opportunities and attract new investment, especially in the agro-industrial sector.
He also highlighted the importance of strategic projects that generate value and highlighted the fundamental role of private initiative in the economic and social development of the region.
Regional Entrepreneurship
For her part, María Cristina Lara from Valencia highlighted the active participation of the business community in multidisciplinary initiatives in the region. She emphasized that the members of the mining, energy and service sectors have carried out projects with a social impact on the community, infrastructure and education.
At the same time, it reported that the investment made by these sectors at the end of 2022 amounted to $50,000 million and resources were committed to execute projects in 2023 that will double that value, thus exceeding $100,000 million.
During the assembly, various topics of interest to the business sector in the region were discussed. Aspects related to competitiveness, innovation and strengthening of the business fabric were addressed.
The participants highlighted the importance of fostering cooperation between the public and private sectors to promote sustainable economic development in the region.
In addition, success stories of local companies that have managed to stand out in their respective sectors, generating employment and contributing to the economic growth of the region, were presented. These cases inspired the attendees and evidenced the potential and existing opportunities in Tolima-Huila for business development.
The XXXIV Annual Assembly of Affiliates of the ANDI Tolima-Huila Section concluded with a call to action by the business leaders and the authorities present. The importance of continuing to work as a team to promote economic growth, job creation and improvement of the quality of life of the region’s inhabitants was highlighted.
Likewise, the need to continue promoting investment in strategic projects that promote the development of the agro-industrial sector and other key sectors of the regional economy was highlighted.
economic alerts
At the end of the day, the president of the National Association of Businessmen of Colombia (ANDI), Bruce Mac Master, offered an analysis of the macroeconomic situation of the country and the region, highlighting the importance of paying special attention to growth projections for the Colombian Gross Domestic Product (GDP) in the coming years.
Mac Master emphasized that the issue of economic growth has not been addressed with sufficient determination in the country, and pointed out that it seems that the impact that this has on all areas of national life has not been measured.
For him, becoming a more competitive and attractive country for investment should be a national cause that allows sustained growth, even exceeding the conservative projections of 0.5% and 1% of GDP estimated for the year 2023.
Regarding the region, the president of ANDI referred to the latest report from the National Administrative Department of Statistics (DANE) on departmental GDP, which highlights the dynamic economic growth experienced by Tolima and Huila in recent years.
However, this growth was affected by the pandemic and, although it has been recovering, it is still below the national average of 11%, reaching rates of 9.6% and 8.4% respectively.
Additionally, Mac Master mentioned that the unemployment and informality rates in these two departments are higher than the national average, which represents a significant challenge.
In his words, “overcoming informality is not a minor job.” For this reason, he has insisted that the labor reform that is being processed must address the current situation, where more than 50% of the working population does not have labor rights.
national GDP
In a recent report published by the National Administrative Department of Statistics (DANE), it was revealed that Colombia’s Gross Domestic Product (GDP) showed impressive growth of 7.3% in 2022 compared to the previous year.
This significant increase in the national GDP reflects a positive economic outlook and encourages expectations of a prosperous future for the country.
One of the highlights of the report is the concentration of economic growth in certain key regions of the country. By the year 2022, it was observed that Bogotá DC, Antioquia, Valle del Cauca and Santander played a fundamental role by jointly concentrating 54.8% of the national GDP. These regions have proven their economic importance and their ability to drive growth in the country.
However, the economic influence of these regions is not limited to them alone. If the economies of Cundinamarca and Atlántico are added, it is established that these six regions represent an impressive 65.5% of Colombia’s GDP.
This underscores the importance of these areas as drivers of the country’s economic growth and highlights the need for policies that promote economic diversification in other regions.
Regarding the individual departments, the DANE report indicates that of the 32 departments and Bogotá DC, nine achieved an economic growth higher than the national average in 2022. Among the most outstanding are Bogotá DC, with a growth of 9.5% ; Atlantic, with 9.3%; Bolívar, with 8.6%; Valle del Cauca, with 8.1%; and Cundinamarca, with 7.8%.
On the other hand, the report also highlights the departments that experienced growth below the national average. Among them are Antioquia, with a growth of 6.9%; Santander, with 5.3%; Huíla, with 4.2%; and Casanare, with 1.7%.
These figures indicate that these departments could require a greater economic boost to catch up with the growth rate of the rest of the country.
In terms of the economic activities that contributed to the growth of national value added, wholesale and retail trade, transportation, accommodation, and food services stood out, with an impressive growth of 11.1%.
It was followed by artistic, entertainment and recreation activities, with an increase of 39.9%, the manufacturing industry, with growth of 9.8%, and public administration and defense, education and health, with growth of 2, 1%.
