Bogota, August 2023. The Bogota Chamber of Commerce (CCB) and CAF - Development Bank of Latin America and the Caribbean, launched the "Program for the Digitalization and Sustainable Business Development of MSMEs", which seeks to continue consolidating the business ecosystem of Bogota and the Region. This, through the appropriation and efficient use of technology-based solutions that allow companies and businesses to be more competitive through increased sales, process automation, business recognition in markets, better customer service and better working conditions for their employees.

Likewise, this 21-month program is designed to provide complementary support to MSMEs, which represent more than 99% of the business fabric of Bogota and the 59 municipalities of Cundinamarca in which the CCB has jurisdiction, in the proper use of the concept of sustainability, where technology will provide the opening to mitigate climate change through the implementation of green initiatives that allow the construction of a more equitable and dignified society and environment, one of the shared objectives of the CCB and CAF.

This program, which is defined as the path to transformation, was structured in four strategic phases. First with an evaluation stage of digital and sustainable maturity in economic sectors to be prioritized in Bogota and the region and a mapping of technological solutions that can mitigate the findings. Secondly, these technology-based solutions (80) will be strengthened, making them more user-friendly and efficient in their use. Following this, we will seek to generate capacities in 500 companies in Bogota and the region to move towards attractive and sustainable environments, and finally, specialized support will be provided to 100 of these companies for the implementation and use of technology-based solutions that will enable them to obtain better results in their operations and sustainability objectives.

Ricardo Nates, executive president of the CCB, explained that "the initiative is part of our commitment to strengthen business capabilities and promote the generation of shared value. From the 16 Cluster Initiatives we lead, we have promoted innovation, new businesses and sustainability with efforts we have made to close gaps and benefit more than 12,700 companies with our initiatives by the end of June 2023".

Diana Mejía, CAF's senior specialist, highlighted that with this program "we seek to promote economic recovery in the region, providing capabilities and tools to MSMEs to efficiently address digital transformation and use digitalization to adapt sustainable business models to improve their productivity and competitiveness. With this project in Bogota we expect to achieve excellent results, because, in addition to the natural benefits for the local economy, it allows us to bring good practices and lessons learned to boost the economic reactivation of other cities in Latin America and the Caribbean."

The Program for Digitalization and Sustainable Business Development marks a milestone in the collaboration between the CCB and CAF. Both entities cooperate together to drive digital transformation and sustainable growth in the region, generating a lasting impact on small and medium-sized enterprises.