INSPIRING CONNECTIONS
TBY talks to Bernardo Vargas Gibsone, President of Interconexión Eléctrica SA (ISA), on Latin America's highest transmission line, Jaguar Connection, and sustainability.

BIOGRAPHY
Bernardo Vargas Gibsone is the President of ISA. He is focused on four businesses: electric power transmission, information and telecommunications technologies, road concessions, and real time systems management. Founded in 1967, ISA operates through 43 subsidiaries in 8 countries in Latin America.ISA holds COP43.409 billion in assets and has over 38,000 shareholders. What have been its main achievements over the past year?
ISA has gone through an interesting 50 years. It is a mixed-ownership company, with 51% owned by the central government of Colombia, 10% by Empresas Públicas de Medellin (EPM), and around 40% free float. ISA has been recognized for the best corporate governance in Colombia two years in a row. It is run by people with years of experience as technicians, though it is also a company that incorporates several businesses. It is perhaps the largest Colombian multinational, or at least the one with the largest presence in Latin America.
What is ISA's expansion strategy and its projects in Latin America?
ISA is a multi-country and multi-business organization, and we have presence in a variety of places, including Colombia, Brazil, Peru, Bolivia, and Chile. On top of this, we have a small presence in Ecuador and Argentina via telecoms businesses. Additionally, in Panama and other countries in Central America, we also have 11% of investments in Empresa Propietaria de la Red (EPR) line that goes through Central America. In all these countries, especially in the ones where we have a large presence, the great news is that there are many opportunities to grow. Even though we have 80% of the market in Colombia, there are still many opportunities. In 2017, we were awarded the Copey-Cuestecitas transmission line, which is perhaps the largest line awarded in Colombia. In Brazil, we grew significantly; we acquired 46.1% control block stock of Taesa, the most profitable transmission company in Brazil. Moreover, our main company in Brazil, CTEEP, has about 19,000km of lines and is doing extremely well.
ISA appears on the Dow Jones Sustainability Index. What is your strategy to place ISA among the top sustainable companies?
Given that we are a lineal infrastructure company, we touch many communities; therefore, we need to be extremely responsible, not only with the people who work for the company, our suppliers, and co-contractors, but also with the people that we touch. Even our logo conveys this; it is more open to the community and friendly because we want to send that message. The logo is accompanied by a manifesto that is carried by the whole company: Connections that inspire (Conexiones que inspiran). When Dow Jones comes every year to look at us, it digs deep into our work: how we honor contracts, how we create standards for our suppliers, and how we create standards to protect the lives of our workers that work in high-risk operations. We were recognized as the top company in the region in terms of social corporative responsibilities and sustainability. We have an amazing program called Jaguar Connection that we launched in 2016. It is a sustainability program created and developed by ISA, local communities, and experts. Its aim is to protect biodiversity and mitigate climate change through forestry projects in priority areas along with recovery and connection of jaguar habitats in countries where ISA is currently operating.
What are the main goals and priorities to be accomplished in 2018?
2017 was an amazing year for us as we hit all our targets; we were the best-performing company in Colombia in terms of profits. The main challenge is to do better than last year as Colombia is going through a difficult year, especially due to political changes. We are searching for potential countries for our future plans. We are looking at Argentina as well as Mexico. We are careful not to invest as much as we have done Brazil; our debt is legal according to international standards, though we are conservative in the way we manage it.

TABLE OF CONTENTS
Guest Speaker
François-Philippe Champagne, Minister of International Trade, Canada
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Juan Gabriel Pérez, Executive Director, Invest in Bogotá
TBY talks to Juan Gabriel Pérez, Executive Director of Invest in Bogotá, on rounding a turning point, the opportunities for foreign investment in infrastructural PPPs, and finding the perfect investors for adding value on a local scale.
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Patricia Tovar, Executive Director, Colombian British Chamber of Commerce (Britcham)
TBY talks to Patricia Tovar, Executive Director of Colombian British Chamber of Commerce (Britcham), on finding new strategies in trying times, supporting Colombians investing in the UK, and the rising importance of ecotourism.
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Orlando Velandia Sepúlveda, President, Agencia Nacional de Hidrocarburos (ANH)
TBY talks to Orlando Velandia Sepúlveda, President of Agencia Nacional de Hidrocarburos (ANH), on Tax Refund Certificates, developing pedagogical programs, and the Territorial Strategy of Hydrocarbons.
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Diego León Vélez Velásquez, General Manager, Ingeniería y Gestión Administrativa (IGGA)
TBY talks to Diego León Vélez Velásquez, General Manager of Ingeniería y Gestión Administrativa (IGGA), on predial management, virtual technical file, and working with different economic models.
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Iván Herrera, Vice President , Business Solutions and Government of Huawei Colombia
TBY talks to Iván Herrera, Vice President of Business Solutions and Government of Huawei Colombia, and Cao Wei, Country Manager of Consumer Business Group of Huawei Colombia, on their growth plans for the country.
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Carlos Alberto García Montes, General Director, National Institute of Roads (INVIAS)
TBY talks to Carlos Alberto García Montes, General Director of the National Institute of Roads (INVIAS), on developing Colombia's road networks, linking intermodal transport, and establishing private partnerships.
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María del Carmen Araujo Grijalva, Executive President, Hidalgo e Hidalgo (HeH) Colombia
TBY talks to María del Carmen Araujo Grijalva, Executive President of Hidalgo e Hidalgo (HeH) Colombia, on contributing to productivity and growth in Colombia, working closely with local communities, and areas of opportunity.
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Santiago José Castro Agudelo, Rector, Universidad La Gran Colombia
TBY talks to Santiago José Castro Agudelo, Rector of Universidad La Gran Colombia, on providing first-rate affordable education, constantly innovating whilst remaining true to one's values, and changing Colombia's risk-adverse culture.
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Andres Hernandez, General Manager, Mareauto Colombia S.A.S,
TBY talks to Andres Hernandez, General Manager of Mareauto Colombia S.A.S, AVIS Colombia, on outgrowing the market by legions, providing customers with an unforgettable experience, and offering a timeless premium service.
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City of Gold
Colombia's regulatory policies are generally regarded as welcoming to foreign investment, as seen by the World Bank's 2018 Doing Business report, which ranked the country's business environment 59th globally. Chief among the country's appeal to foreign investors are its stable political and economic system, rich natural resources, and geographically important location at the crossroads of two oceans and continents.
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