Mision Crecer, Strategy Presented by Colombia in New York to Accelerate Investment

Vice President Jose Manuel Restrepo unveiled Mission Crecer on September 21 in New York. The initiative aims to grow Colombia's GDP to 6%, coordinating the government, private sector, academia, the international community, and citizens to draw in more investment and create more job opportunities for Colombians. "More growth, more investment, more jobs," Restrepo stated, emphasizing that the strategy hinges on developing incentives, strengthening legal stability, streamlining regulations, and enhancing productivity through labor formalization.

The vice president presented the plan before 40 senior executives, including representatives from global companies such as Apple, Intel, AB InBev, Pfizer, Merck, Visa, Citi, Cargill, Lockheed Martin, Mars, Valero Energy, and The AES Corporation, during a meeting convened by the Council of the Americas at its headquarters on Park Avenue.

Mission Crecer's four primary fronts include incentives and legal stability, a project bank, eliminating barriers, and mobilizing savings for investment. The strategy emphasizes legal certainty, modernization, and simplification of the state, as well as talent development, technology, and strategic infrastructure to facilitate new investment decisions.

Restrepo connected the growth target to increasing both international capital and local investment capacity, asserting that Colombia must avoid growth based on excessive debt, fiscal excess, waste, and increased public spending. He proposed that the path outlined by President De la Espriella involves boosting private investment and attracting more global investment while strengthening local investment capacity, thereby boosting growth, increasing tax revenues, and enabling social investment.