ANNOUNCEMENT 12 Jul 2012In July 2012, the government of Colombia announced altered domestic business conditions for foreign investors.
NUMBER OF INTERVENTIONS
Law No. 1563 (in Spanish),
U.S. Department of State (in English),
On 12 July 2012, Colombia's National Congress adopted Law No. 1563 implementing a new legal regime for national and international arbitration favorable to foreign investors. Indeed, the new law unifies the previously dispersed arbitration laws into just one piece of regulation and tackles the problems of the former regime which international investors found complex and dilatory.