Sector Risk Monthly: Defense
The Colombian defense sector is deep into a process of foreign expansion and growth. The national military industry is poised to become an engine of competitiveness for the country if it manages to capitalize on its export potential. Currently, the country seeks to build a new naval fleet, modernize its air capabilities, and explore new technologies and innovation to guarantee the defense of borders and the country’s territorial sovereignty. Companies within the defense sector including Cotecmar, Indumil, Ciac, and Codaltec have already opted for strategies to boost exports of goods and services to destinations in Asia and Central America. The military industry will soon be able to export to other destinations.
Other issues that set the agenda for the Armed Forces and will have important implications for the defense sector include various proposals to reform the compulsory military service, the relocation of bases throughout the country and the draft bills before Congress that seek to modify restrictions to the right to bear arms. These issues will be important for all those involved in the defense sector including the Military Forces, their suppliers, decision-makers, and the general public to be aware of the latest developments.
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