INTRODUCTION on National Innovation System in Columbia
In this paper the Main features of Columbia’s business environment and the role of national innovative system is discussed. Then the government component of the NIS in Columbia is evaluated. After that the finance components of National innovative system of the country is analyzed and discussed. The role of Scientific and Technological institution, as well as the Education components of the NIS is discussed. The industry component of the NIS in the Columbia is explained. In the end conclusion is given about the importance of the national innovative system for the prosperity of the country.
Business environment of Columbia and national innovative system
Business Environment of Columbia
The Columbia business environment has improved tremendously from the past few years due to the new programs run by the government. In the present condition the inflation rate is under control and there is economic stability which is attracting the investors to invest. Columbia has an advantage of being located in the middle of South and North America. The country has a population full of young and qualified people. Thus it has become a new investment place for the international investors. Before the investors had concern about the devaluation of the Columbia currency, but now it has been strengthening its currency value against dollar and Euro, which is clear sign of stability and growth of the economy .
The government of Columbia has simplified the tax rules and regulations which have led to increases in the tax base and reducing the tax benefits. The Judicial system of Columbia is very weak and hence the government needs to pay attention on that aspect. The main trading partner of Columbia is the United States to which it has done free trade agreement . If all the reforms and efforts taken by the Columbia become successful then for sure Columbia can become one of the major players of Latin America (Cardenas, n.d). Although it is not that Columbia does not face threats, it faces major challenges with the natural calamities like flood which has damaged the infrastructure, roads, buildings etc of th