Minister: Private investment vital for mining, hydrocarbons

- Thursday, July 8, 2004

Minister: Private investment vital for mining, hydrocarbons

The Colombian government is taking measures to become more competitive and attract domestic and international private investment in hydrocarbons and mining, Colombia's energy and mines minister Luis Ernesto Mejía told BNamericas.

"We have the responsibility to try by all means necessary to maintain or recover hydrocarbon reserve levels and develop mining, which has been neglected for several years," he said.

The state cannot use its scant resources to make business investments, given there are still many public services that have not been offered to all Colombians, Mejía added.

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At the same time, he asked investors to convert into investments the optimism and confidence expressed in surveys regarding the country's security to generate new economic possibilities but above all to create jobs and social welfare in the country.