Support for strengthening Colombia’s National Competitiveness System

(Bogota, May 23, 2012). - CAF- development bank of Latin America - and the Presidential Office for Public and Private Management signed a technical cooperation agreement to provide non-reimbursable funds with the aim of strengthening the National Competitiveness and Innovation System whose mission is to implement a long-term productivity and competitiveness policy for the country.

With this agreement, the Colombian government will move toward the objectives which are to guarantee the priority activities of the National Competitiveness and Innovation Agenda, and support the Regional Competitiveness Commissions in implementing their plans, especially in relation to the role they play in managing the investment budget set out in the National Royalties Fund.

"The entry into force of the recent Royalties Law and implementation of the FTA with the United States require a stronger National Competitiveness and Innovation System at central and local levels. Its technical teams have to be prepared to support development of projects that have a positive impact on regional and national competitiveness, and ensure that the System adapts to the challenges created by the trade agreements signed by the country," CAF director representative Victor Traverso in Colombia said.

The Presidential Office for Public and Private Management was set up in 2010 to advise the president of Colombia on implementing the mechanisms for management and coordination between public and private sectors.