National Innovation System in Columbia Sample

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

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