In its economic principles, the Constitution sets forth (Article 299) that the State shall promote and foster the development of the national economy, as well as private initiative. To attain this goal, the intervention of local and foreign investors – who must receive an equitable treatment - is necessary, according to the regulations issued by the 1990 Cartagena Agreement Commission. This position towards businesses is reflected in the various laws ruling economic activity. Next is a detailed guide of the more relevant legal investment entities.
Legal framework