San Jose, November 4th, 2022. The study “ICT sector prospecting in Colombia (focus on commercial alliances)”, carried out by The Foreign Trade Agency of Costa Rica (PROCOMER), identified potential for Costa Rican information and communication technology (ICT) companies through business alliances with Colombian firms, which would allow meeting the current demand in that country for various services.
According to the study, Costa Rican companies must assess four different segments for the realization of the commercial alliances, which are aligned with the axes promoted by the Colombian authorities to bring investment to their country, these segments are:
According to Marta Esquivel, Director of Planning and Commercial Intelligence at The Foreign Trade Agency of Costa Rica, for the national exporter, a commercial alliance works as an interdependent relationship with its Colombian counterpart, but always under a win-win approach. “The objective of these alliances will always be to obtain market positioning, reduction of operating costs, exchange of experiences, management of the client portfolio and institutional articulation”, she added.
In 2021, Colombia was the sixth largest economy in Latin America and the Caribbean with a record of prudent fiscal and macroeconomic management, which allowed it to face the COVID-19 crisis despite structural problems such as informal work, poverty and inequality.
The previous year, the growth of the Colombian GDP was 10.6% (versus 7.6% in the case of Costa Rica), specifically in its economy, the ICT subsector represented 3% of the total (with an annual growth in 2021 of +10% compared to 2020). This sector is in the process of reactivating after the pandemic emergency, in which the Government is investing more than $200 million in digital transformation, training and connectivity improvement related projects.
Bogotá, which is the department with the largest number of companies in the ICT sector, is characterized by offering software engineering services with competitive costs, volume, quality and multiple delivery formats; as well as an increasing use of 4.0 technologies to improve its operational efficiency. Currently, this sector is committed to reach the strategic Business Process Outsourcing (BPO) offer focused on the management and delivery of information for decision making. Hence, the commercial alliances that are going to be developed by Costa Rican companies must be in line with the expected evolution of this type of activities in the market.
Enrique Ulloa, analyst in charge of the study, highlighted some recommendations that Costa Rican companies should consider when choosing this model when entering the Colombian market:
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