increase in the homicide rate reduces private investment by 0.66%. Thus, we can observe that the high levels of violence directly affect the transaction costs and levels of uncertainty in society. Likewise, they reduce to a certain degree the profitability of investments. A study by Corporación Invertir en Colombia (Coinvertir) and the National Planning Department (DNP) shows that insecurity hinders the development of new foreign investments, especially in the financial, oil and gas, and electric power sectors. One of the biggest problems to invest in Colombia is that it is necessary to devote a large part of the budget to security and protection controls, which is very difficult to justify before the house. In this sense, the economic environment affected by the violence translates into a tax on investment." On the other hand, within the studies on the costs of the conflict, specific sectors such as the private sector have begun to be studied, taking into account the high costs they have had to assume due to the existence of this phenomenon. The large companies and those that operate at the national level assume the highest costs associated with the existence of the conflict. This is because they are more attractive for someone who wants to extort for example, and also those who lose most in adverse conditions. Appealing to the economic arguments that underlie the conflict, various state and international aid and cooperation institutions seek to establish the scope and potential benefits of a peaceful situation. This argument has mobilized and sensitized various sectors of society to understand that peace is also an economic necessity. In Colombia, as shown in the studies that have estimated the costs of the conflict, since the nineties it has imposed increasingly higher costs to various productive sectors of the economy and society in general. Among the sectors most affected by the conflict are the exploitation of hydrocarbons, electricity and livestock. This is explained, in part, because the areas where the operations and activities of these sectors take place, in parallel, are the territories where groups outside the law exert a very strong presence. Likewise, for the Colombian private sector, indirect costs have more impact on their activities than direct costs. With respect to indirect costs, although there is a clear difficulty to be quantified, the various studies suggest that they have been significantly high and that they have had a representative impact on