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November 4, 2022
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Tax must take care not to affect investment, says José Manuel Restrepo

Tax must take care not to affect investment, says José Manuel Restrepo

Discussions about the future of education and the new challenges facing the sector have become agenda items. In this context, new leaders are assuming the reins of universities such as the EIA, of Envigado. This is the case of José Manuel Restrepo, rector of this center that has 2,300 students. The former Minister of Finance also spoke with Portfolio about the tax reform.

(Read: Icetex will forgive debts of thousands of young people: find out if you are a beneficiary).

How was the change from Minister of Finance to EIA rector?

Returning from the Ministry to education is returning to what I have dedicated most of my life to, which is training people and generating knowledge. Transit is nothing different from the expression of what has been my passion, which is to form institutions and contribute through them to generating change and development in our society.

What is going to be invested in the university and how much is it going to cost?

We have identified that the priority should be in engineering. In addition, we have a new medicine program that starts together with the Pablo Tobón Uribe hospital and a new building for the faculty is also planned. In the economic areas, we invest in an emphasis on bioeconomics and administration.

In 2023 we have planned investments that may be in the order of $14,000 million to $20,000 million.

How are you doing in terms of accreditation?

Today we have a certification in 100% of the creditable programs. We have advanced in international accreditation processes. The pandemic temporarily changed the outlook at EIA, where about 50% of the undergraduate population typically had dual degrees from foreign universities.
In other words, there is a very marked emphasis on international interests and double degrees. We hope to continue returning to that path so that it is not 50%, but a higher percentage.

(See: Improving secondary education is the key to reducing poverty).

What challenges does higher education face in Colombia?

We have to ensure that the system recognizes the characteristic of being mixed, where there are official and non-official institutions that need forms of financing to address the concern of higher levels of coverage. There is a great challenge with Icetex in the design of the Contingent Income program, to find alternatives that guarantee this financing of the system. It is also essential to advance in terms of quality, strengthening basic and secondary education in its integration with education for work and high-level science and technology.

Likewise, progress must be made in terms of what the new programs that are needed in this country in the medium term will be. We have to work on what is the educational offer that the Colombian higher education system needs for the next 30 or 40 years.

How do you see the budget for education of the current government?

I agree with the purposes that the Minister of Education has indicated that are urgent. A careful vision of the General System of Participation, essential not only from the point of view of higher education, but from the basic, middle and primary.

In addition, the reform to Icetex, to receive higher levels of resources to promote coverage. Thirdly, the reform of the higher education system (Law 30 of 1992), including how the system will be regulated, the discussion about the Superintendency of Education.

How has the connection been with the private sector in Antioquia?

One of the added values ​​of the university is that it has managed to have a strategic relationship with the business sector. There is a permanent symbiotic relationship between the company and the academy, in which innovation cells are strengthened, which are spaces developed within the university with the business sector around products and companies. I want to move forward so that through this university we have technology parks as happens in some universities in the world where there are additional physical spaces.

How do you see the issue of tax reform?

Tax reform is needed to the extent that there are new social programs. The new Government requires additional resources, which were not originally contemplated. Great care must be taken not to affect the productive dynamics of the country, because foreign direct investment is needed to finance the current account balance and this is important to maintain stability in the exchange rate, among other issues.

(Also: The majority of the employed population in Colombia has only a high school diploma).

To the extent that the reform generates concerns in foreign direct investment or investment in general, it is a fact that it has difficulties. I think it is important to make adjustments, so that it does not affect the hydrocarbon and mining-energy sectors. Care should be taken not to excessively raise the combined income tax rate between the partners and the company because otherwise investment in the country would be discouraged.

It is necessary not to generate strong price increases, nor higher levels of inflation in some products, especially for the most vulnerable populations. If this goal is achieved, it will be a valuable instrument to finance social programs that the country needs today because we are coming out of the pandemic and experiencing a difficult time, not only for the economy like ours and for the world’s.

Diana K. Rodriguez T.

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