LatinNews Daily - 21 February 2023

In brief: Colombia gov’t unveils reindustrialisation policy

*Colombia’s ministry of trade, industry and tourism (MINCIT) has announced the launch of the government’s reindustrialisation policy, a key initiative of the leftist administration led by President Gustavo Petro, which is aimed at “transiting from an extractive economy towards a knowledge, productive and sustainable economy.” According to MINCIT the policy’s objectives are to close gaps in productivity, strengthen productive chains and investment, diversify offers for the domestic and export sector, and deepen integration with Latin America and the Caribbean. According to MINCIT various sectors were involved in drawing up the policy, including the private sector, unions, academics, and politicians among others. Key components of the strategy include energy transition; agroindustrialisation and food security; and reindustrialising the health sector and defence sectors.

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