DAVOS, Switzerland: Colombia’s President Ivan Duque stated expertise corporations have been welcome in his nation, however they needed to function on a degree taking part in subject with native corporations.
“It is good regulation to degree the sphere and to … not … have unfair competitors amongst events,” he stated on the annual assembly of the World Financial Discussion board.
Duque’s feedback comply with a court docket order late final yr towards ride-hailing firm Uber Applied sciences Inc. The Andean nation has ordered Uber to stop operations after a choose stated it violated competitors guidelines.
Uber stated it’ll cease working in Colombia on the finish of January, however has known as the authorized ruling “arbitrary” and a violation of its proper to due course of. It has additionally stated it’ll use all authorized avenues to defend the rights of its two million customers and 88,000 drivers within the nation.
Colombia’s regulators have sparred with different start-ups, together with supply juggernaut Rappi, over whether or not they’re complying with e-commerce and labour legal guidelines.
“What you can’t tolerate in Colombia, in anyplace, is that you’ve got unfair competitors,” Duque stated, pointing to controversies round Uber in international locations equivalent to Germany, Spain and the US.
“There is not any coverage towards expertise as an instrument to attach customers and the sellers of a product.”
Entrepreneurs have stated Colombia’s rules are outdated and will threaten its standing because the area’s second-most in style vacation spot for entrepreneurial funding after a lot bigger Brazil.
However Duque stated Colombia was open for enterprise.
“Colombia is a rustic that has been very enticing for expertise. Colombia is a rustic that has rule of regulation.” – Reuters