The Project will assist the Government of Colombia through the Ministry of Trade, Industry and Tourism (MINcit) in formulating a new national investment policy framework conducive to enable private investment growth, diversification of FDI inflows, and investment retention given Colombia's current lack of a clear vision on how the country can attract, facililitate, retain and maximize the benefits of private investment, in particular the type of FDI that can contribute to diversify its exports, enhance its integraton to GVCs, and bring innovation and best practices.
The main outcomes of the project will be an Investment Policy Action Plan by MinCIT announcing a new investment policy framework, and the establishment of a Systemic Investor Response Mechanism to assist the Government of Colombia to retain and expand investment.
The Project will assist the Government of Colombia to enable private investment growth and investment retention. Productive private sector investment is an important component of countries competitiveness and development strategies. Attracting FDI, in particular, brings not only investment and jobs, but also new technologies and business practices, increased exports, supply chain spillovers, and helps to link a countrys domestic economy to global value chains in key sectors.
ACCOUNTABILITY MECHANISM OF IFC
The Compliance Advisor Ombudsman (CAO) is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an IFC or MIGA- financed project. If you submit a complaint to the CAO, they may assist you in resolving a dispute with the company and/or investigate to assess whether the IFC is following its own policies and procedures for preventing harm to people or the environment. If you want to submit a complaint electronically, you can email the CAO at CAO@worldbankgroup.org. You can learn more about the CAO and how to file a complaint at http://www.cao-ombudsman.org/