AmCham warns that leaving international arbitration deepens uncertainty for investors in Colombia
Various sectors warn that this will only increase uncertainty in the country. Photo: Image generated with artificial intelligence.
TL;DR
- AmCham Colombia believes withdrawing from international arbitration will increase uncertainty for investors.
- The organization states the fundamental issue is the country's legal certainty, not the arbitration system.
- Problems stem from changing regulations, lack of predictability, and poor institutional coordination.
- AmCham suggests addressing these underlying issues rather than abandoning the arbitration mechanism.
- The withdrawal could create more uncertainty for over a hundred hydrocarbon projects in Colombia.
- While acknowledging potential adjustments to the system, AmCham cites a recent reform with the US as a path forward.