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Government of Colombia promotes support plans for businesses

Bogotá, May 31 (Prensa Latina) The Government of Colombia is promoting new projects for small and medium-sized companies to allow them to improve their capabilities and insert themselves into value chains of the pharmaceutical, medical device, aeronautics, space, and sustainable construction industries.

To this end, five calls were made that are part of the ‘EnCadena, better suppliers’ strategy, with which technical assistance and access to services will be provided to hundreds of MSMEs and/or productive units.

According to the information released by the Ministry of Commerce, Investment and Tourism (MINCIT), the objective is to meet access requirements to value chains, overcome the identified gaps, and, depending on the sector, improve issues such as quality, sustainability, processes, logistics, commercial strategy, and product development.

The Vice Minister of Business Development of MINCIT, Soraya Caro, explained that 38 billion pesos (10 million dollars at the current exchange rate) will be invested to improve the supply capacities of more than two thousand MSMEs and productive units.

Economic activities related to the pharmaceutical, medical device, aeronautics, space, and sustainable construction industries generated exports of more than 20 billion 315 million dollars in 2023, according to the information released by MINCIT.

A good part of these figures are explained by the ability of these entities to insert themselves into local and global value chains and generate productive chains with national and international anchor companies, the Ministry said.

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