The financial performance of the business sector in 2010 was so positive that the Superintendent of Companies, Luis Guillermo Velez, says Colombia has the best economic times.

Low interest rates, increased foreign investment, restoring international relations and treaties to be enacted explain this situation, said the official.

What was the business balance of 2010 in the real sector?
The results of the companies reported to the Superintendency, which this year were 23,819, confirming the excellent moment that passes the Colombian economy. It seems that for the first time in many years, all the stars have aligned so that the conditions are almost ideal for doing business. In fact, compared to 2009, a growth of 13.5% in assets, an increase of 9% in operating income and a 8.9% growth in operating income. This is very satisfactory considering that in 2010 inflation was 3.17% and growth of the economy as a whole last year was 4.3%.

What factors influence the companies were so successful?
As a hypothesis one could say that these stars have been aligned are the persistence of an environment with low interest rates (which encourages consumption), entry of foreign investment at historically high levels, stabilization of the commercial and economic relations with neighboring countries, the prospect ever closer free trade agreements with the United States and Europe, the growth of emerging sectors such as mining and oil and high commodity prices. These are short-term factors. However, behind them are two that I consider essential: social trust and the existence of an entrepreneurial class ‘pitch pa’ lante. ”

How much of the winter hit corporate behavior?
Winter but not winter, because due to La Niña summer we never had. Crisis facing the winter, as the president said Juan Manuel Santos, the more severe in living memory. And even worse is, as we have said Ideam. Fortunately, business performance and economic performance recorded in 2010 and expected for 2011, the impact of this environmental tragedy, at least in what refers to the financial indicators will be relatively minor.

What was the electoral impact in the financial statements?
I would say none. Anyway it should be stressed that the new government has been very well received by domestic and foreign investors. It’s true: Colombia is in fashion.

What were the sectors that showed a better performance?
In the preliminary analysis verified a significant growth of agricultural sector consolidated. In operating income grew 94% in operating profit by 94% and 73% net profit. This is surprising and we are committing. Another high-growth sector was mining with an increase in operating income of 29% and 10% in services.

Interestingly, mining has the worst performance with reductions in net income of 9% and with companies that lead the list of biggest losers, which should not worry because it is often of enormous long-term investments that have started their amortization. Moreover, it is something positive and we are not against investment swallows.

And how was the performance of investments in 2010?
Still no discrimination on the part of sectors but is generally satisfactory. In the homogeneous sample, we have a 17.6% growth in business investment.

How many companies went into reorganization in 2010 and which sectors, mainly?
102 proceedings were opened, 75 of legal persons and natural persons, 27 retailers, most of the manufacturing sector and trade. But those numbers are not important. In a dynamic market economy, even in times of plenty, there will be corporate reorganization. In fact, for an economy the size of Colombia, which is in terms of gender parity within the 30 largest in the world, 102 processes are few.

How are the processes Nule Group companies?
I’ve said it several times and I repeat: the breakdown of Nule is the largest in corporate history in Colombia. It is our Enron. Because of its size and complexity, as well as the precariousness of accounting information, the liquidation of this business group has been particularly difficult. Come forward. Already presented by the liquidators, the proposed credit rating for the four majors, which is close to $ 1.5 billion. This is a substantial figure, which leads us to make clear that these settlements will take longer than we wanted.

How has it changed the business map in Colombia? How many new business groups have been created and what activities?

Has changed dramatically. In addition to traditional groups known to all that have been consolidated, new major groups in what we call the emerging sectors of the economy (infrastructure, mining and energy and utilities. Unfortunately, some of them have ignored their legal obligations register as such and persist in their idea of ??flying under the radar.

What will make the Superintendent about it?
Inviting them to register their group status as provided by law, otherwise we will initiate investigations and by ordering the registration but not before imposing punitive damages, as we have been doing in recent days.

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