The Index of Sectoral Competitiveness (IDC) 2023 left worrying conclusions after 20 of the 33 sectors assessed in Colombia registered a decline in their scores compared to the previous year. Although his case is mild, Antioquia is one of them which retreated after losing 0.1 point and getting a rating of 6.72 out of 10.
This was announced by the Council for Private Competitiveness (CPC) and the Universidad del Rosario, who also informed that there is no change in the top 10 positions of the IDC 2023 as compared to the 2022 list. Thus, Bogotá, Antioquia, Atlantico, Risaralda and Valle del Cauca remain on top, And Santander, Caldas, Quindo, Cundinamarca and Boyaca complement the top (see infographic).
In the case of Antioquia, IDC 2023 assessed performance in the pillars of market size, financial system, innovation and higher education and job training, but noted the need for reform in terms of environmental sustainability and basic and secondary education.
that is, it “split” into these last two. While it was ranked 17th in the country in environmental sustainability and dropped four places compared to 2022, it dropped three places in basic and secondary education and finished 14th.
According to Universidad del Rosario Rector Alejandro Cheyne, the worrying figures seen in this edition of the report show the need for coordinated work between public and private actors; He said the biggest opportunities for reform at the country level lie with the use of ICT, access to the financial system, and the level of innovation.
Meanwhile, the CPC and U del Rosario specifically pointed out In Antioquia, work should be done on protected areas, the generation of CO2 emissions in fixed sources and investments in environmental services, among others. Similarly, it recommends a magnifying glass on school dropouts in basic and secondary education, the ratio between students and teachers, and the number of teachers in official schools with postgraduate degrees.
Ana Fernanda Mygushka, President of the Private Competitiveness Council, explained that beyond closing these gaps, the challenge for Antioquia and other departments is to strengthen the path of progress in the coming years.
“If we go up two points; point two; If we don’t go up in ranking, but we go up in score; Everything works, because it is really an attempt to improve the living conditions of the people”, he indicated (see box).
Despite the pending works, Antioquia had an outstanding performance on many counts. For example, it is the best in the country in terms of external market size, mainly standing out for its export business.
is that, in general, the environment for business in the Paisa sector is one of the most excellent and IDC 2023 s.The participation of medium and large companies, labor market performance, insurance coverage and financial depth are positively valued in this ecosystem.
Ultimately, all this will have an impact on the department registering higher growth of its Gross Domestic Product (GDP) this year as compared to the rest of the country. According to the Medellin Chamber of Commerce, The regional economy will expand at 2%, driven by commerce and industry, and meanwhile experts forecast the national figure to settle at 1%.