Valle del Cauca’s economy is becoming one of the most dynamic of the region’s municipalities

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Valle del Cauca’s economy is becoming one of the most dynamic of the region’s municipalities

Gaga’s Valley

According to the Monthly Indicator of Economic Activity (IMAE), In Valle del Cauca, the economy grew by 2.8% in the first quarter of 2023 And the decision reflects the decentralization that has taken place in the department’s 42 municipalities.

Despite the economic slowdown at the national level, The region shows a lag in the number of companies created. The Cali Chamber of Commerce estimates that 17,686 new companies were established in the Valley in the first 6 months of the year.

This trend is not limited to the department’s major cities. On the contrary, in Municipalities such as Yodoko, San Pedro and Geneva recorded an increase of more than 10% in the number of companies created by the end of 2022.As evidenced in Buga Chamber of Commerce reports.

It should be noted that Most of the companies registered in these places are related to the manufacturing sector., along with business, administrative services, accommodation, restaurants and other food outlets. An important characteristic is that most of these businesses correspond to micro-enterprises.

A similar scenario occurs Municipalities like Buenaventura, a large part of its commercial fabric is made up of small and micro businesses. However, size has not been a barrier to making a significant impact on the growth of the economy.

Buenaventura Chamber of Commerce reported A 2% increase in the number of companies registered under its jurisdiction, from 7,352 in 2021 to 7,503 in 2022.. Most of the new businesses in this municipality correspond to the commercial and service sector.

Now, this development can be seen in different parts of Valle del Cauca This was made possible by the coordination of businessmen, trade unions and sectoral governments. This is evidenced by the implementation of several schemes to promote the growth of small and medium businesses and entrepreneurs.

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Having said the above, More than 15,000 businesses and small businesses in the region have benefited from initiatives like the Valle Inn.More than $102 billion pesos have been invested under the leadership of the Valle government, which has allowed the strengthening of the economic structure of 42 municipalities by providing inputs, training and other elements that allow you to strengthen your business ideas.

Secretary of Economic Development and Competitiveness of the Valley, Pedro Andrés Bravo assured that many had access to training and other necessary training Providing purposeful ideas to streamline them and increase their productivity.

The The creation of opportunities has allowed the creation of 75 thousand jobs Directly and indirectly with incentives provided by regional government in different municipalities.

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