The Government of Colombia ended 2020 with net sales of dollars of $ 10,524 million, the highest in the last three years. Diminishing resources generated by the pandemic made the Government look for other sources of financing such as increased debt and the sale of foreign currency. In 2020, the country completed three consecutive years in which it has been a net seller of foreign currency, since in 2019 the outflows were for $ 16.7 million and $ 635.3 million in 2018.
In 2021, the Grupo de Energía de Bogotá (GEB) has planned investments of $ 389 million. GEB has 20.2% of market share in the country´s electricity generation, 20% in the transmission business, and 24% in distribution. For its part in the natural gas operation, the Bogota conglomerate participates with 54% of the country's market, with more than 4,000 kilometers of gas pipelines.
Tourism in Colombia had been experiencing positive growth rates in recent years, before the pandemic brought the industry to a halt. While in 2019 a record of 4.5 million non-resident visitors was achieved and hotel occupancy was 57.8%, the results of the sector in 2020 were almost nil. In this sense, within the National Government's reactivation plan, ‘Compromiso por Colombia’, 49 tourism infrastructure projects were included, with the aim of generating about 4,000 jobs and attracting at least $ 288 million in private investment.
The National Infrastructure Agency (ANI) and the Concesión Vial de los Llanos SAS, are set to resume work in the private initiative project Malla Vial del Meta. The fourth generation project for the Meta Road Network includes the Granada – Villavicencio and Villavicencio – Puerto López – Puerto Gaitán corridors. Regarding the Villavicencio road ring, the intersection of Fundadores will be improved, and it will continue with the construction of a new road that will connect it with the Villavicencio-Yopal 4G corridor.
Edesa Biotech, Inc. (NASDAQ:EDSA), a clinical-stage biopharmaceutical company, has received approval from the Ministry of Health (INVIMA) in Colombia to expand the clinical trial of its investigational drug EB05 in hospitalized COVID-19 patients. The study was previously approved in the U.S. and Canada, where enrollment is ongoing. The company reported that it has enlisted the support of a local research organization and will begin activating hospital sites in Bogota, Medellín, Bucaramanga, and other major metropolitan centers. EB05 is a clinical-stage monoclonal antibody that Edesa believes could regulate the overactive and dysfunctional immune response associated with Acute Respiratory Distress Syndrome (ARDS) - the leading cause of death in COVID-19 patients. The drug is delivered intravenously in a single infusion to hospitalized COVID-19 patients.