The Colombian Petroleum Association (ACP) projects for 2021 an investment in oil and gas exploration and production (E&P) between $3.1 billion and $3.45 billion, 51% higher than that of 2020. However, the industry association cautions that this investment is still close to $300 million lower than investment registered between 2015 and 2019.
Investment in Colombia’s oil and gas industry fell 49% to $2.05 billion last year, the lowest since 2016, with exploration investments sliding as the coronavirus pandemic slashed global fuel demand, the private producers association said.
The Colombian Chamber of Electronic Commerce (CCCE) projects that the sector will grow by 16% in 2021, taking into account the economic recovery. The CCCE forecasts that this year e-commerce will have a turnover of Col$20 billion ($5.60 billion).
The Colombian government plans to invest Col$1 billion ($280.29 million) in the Generation E education project, benefiting 84,000 young people. The government expects 336,000 people to benefit by 2022 with an investment of Col$7 trillion ($1.96 billion).
The Ministry of Agriculture and Rural Development, the Colombian Agricultural Institute (ICA), and Chile's Agriculture and Livestock Service (SAG) reached an agreement on a Work Plan so that Colombia can export its Hass avocado to that country. According to data from the ICA, Colombia exported 87,000 tons of Hass avocado to 24 countries in 2020.