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Colombian Government Sets Ambitious Strategic Goals for 2019-2022

Colombia’s Ministry of Trade, Industry and Tourism recently issued its four-year strategic framework for the period 2019 through 2022. The strategic framework is a planning instrument that will serve as a roadmap for the Ministry for the next four years, in accordance with the goals set forth in the National Development Plan 2018-2022.

The strategic framework includes a discussion of the Ministry’s strategic platform as well as the overall strategic context; tries to make a diagnosis of the competitive environment, productivity and innovation, investment, entrepreneurship, new sources of growth and institutional strengthening; and sets forth strategic initiatives and goals for 2019-2022. The Ministry’s strategic initiatives are built upon five pillars, as outlined below.

Competitive Environment. Create conditions that foster business growth by:

  • designing, implementing and co-ordinating policies, programmes and instruments that promote a competitive environment for the country;
  • modify rules and procedures to improve conditions for doing business;
  • designing, co-ordinating and implementing trade facilitation measures;
  • implementing and co-ordination actions for the promotion of legal and fair trade;
  • improving quality services; and
  • strengthening the productive value chain of the tourism sector.

Productivity and Innovation. Increasing the productivity of businesses and generating economic growth and development by:

  • designing and implementing interventions that increase business productivity;
  • providing financial solutions and guarantees for companies to invest in modernisation and productivity improvement;
  • creating public policies, programmes, incentives and institutional conditions necessary for the promotion of innovation; and
  • strengthening, structuring and implementing interventions aimed at promoting production chains.

Investment. Attracting high-impact investment to Colombia by:

  • having a portfolio of structured mega projects that facilitates the arrival of large scale investors;
  • structuring a portfolio of instruments to attract investment; and
  • strengthening free zones and special economic zones.

Entrepreneurship and Formalisation. Facilitate formalisation, entrepreneurship and scalability by:

  • increasing the benefits and reducing the costs associated with the formalisation of micro-, small- and medium-sized businesses;
  • facilitating the scalability of enterprises with high potential;
  • defining comprehensive entrepreneurship policies to articulate government efforts and resources; and
  • generating favourable conditions in terms of formalisation and employability processes in the tourism sector.

New Sources of Growth. Achieve disruptive growth in sectors with a significant impact on gross domestic product and employment by:

  • implementing the strategy for the promotion and development of the Orange Economy;
  • promoting tourism as a new source of responsible and sustainable growth; and
  • expanding and diversifying Colombia’s exportable offer by taking advantage of regional competitive benefits and free trade agreements.

Institutional Strengthening. Improve sectoral performance and strengthen innovative thinking and the commitment and growth of human capital by:

  • promoting the development of the capabilities of employees through institutional commitment and motivation;
  • managing physical resources and internal services within a framework of public spending efficiency;
  • promoting performance monitoring and strategic sector goals;
  • developing the sense of belonging of human capital with respect to decision-making and the timely registration of operations; and
  • promoting mechanisms for innovation as well as knowledge and information management.

The strategic framework also establishes a series of goals for every objective. For example, with regard to trade facilitation it seeks to implement at least nine trade facilitation actions in 2019 as well as 16 actions by the end of the four-year period. The Ministry also intends to develop at least eight new functionalities within the electronic single window for international trade operations by the end of this year as well as at least 12 new functionalities by the end of the four-year period.

Content provided by Picture: HKTDC Research
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