the Sifai is a public private system created for adopting measures and actions oriented to the facilitation and establishments of foreign investors

1. System for the
facilitation of
investments –
SIFAI
CHAPTER 15

2. 1 8 1CHAPTER 15 - System for the facilitation of investments – SIFAI - LEGAL GUIDE 2016
The main objective is to improve the Colombian position in
investment climate and businesses environment through the
institution of a high level technical private-public committee
involving the competent authorities concerned.
The specific objectives of SIFAI are:
• Management and implementation of effective actions
addressed to the solution of improvement opportunities (IO)
through the high level public-private technical committee.
• Consolidation of an institutional data base of IO affecting
investment environment in Colombia.
• Analysis, discussion, prioritization and recommendation
of actions for the solution of IO through a regular
procedure with the competent authorities concerned at a
high level of government.
15.2. Members
• High Council for Competitiveness, Science, Technology
and Innovation.
• Minister of Trade, Industry and Tourism.
• Director of the National Planning Department
• President of ProColombia
• President of the Private Council for Competitiveness.
The technical secretariat of the SIFAI is exercised by
ProColombia.
The executive coordination of the Committee is exercised by
High Council for Competitiveness, Science, Technology and
Innovation. This Council is in charge of convening the meetings
of the Committee and a permanent follow up of the works. The
technical committee shall meet unless once each three months
and may convene extraordinary meetings as required.
15.3. Functions
The functions of SIFAI are:
The SIFAI is a public private system created for adopting measures and actions oriented to the facilitation and establishments of
foreign investors in the country through an inter-institutional management in a high level technical private – public Committee.
SIFAI was created on August 24 of 2009, supporting the improvement of the competitiveness in national economy in
accordance with 2828 of 2006 which establishes that one of the functions of National Commission of Competitiveness is to
create supporting technical committees.
15.1. Objectives of SIFAI 1 . To analyze the IO identified and prioritize them:
The technical committee shall review the identified IO and make
a prioritization with the aim of establishing and implementing
effective actions for its solution.
2 . To propose action for facilitating businesses:
The technical committee shall suggest and propose actions to
the authorities concerned for the solution of the IO prioritized.
3 . Following up the measures implemented:
The technical committee and its members shall follow up all
measures implemented by authorities for the facilitation of
businesses with the aim of evaluating its effectiveness and
adopt the appropriate decision.
15.4. what is an improvement opportunity – IO-?
An IO is a norm, a regulation, its application or interpretation, the
practicesoftheauthoritiesoranyothersituationthataffectsnegatively
the decision of establishing or doing business in Colombia.
An IO is identified following criteria such as, any regulation,
its application, or any practice of situations that cause:
• Cancellation of investment decisions
• Suspension of investment decisions
• Reduction of the amount of investments or the number
of employments
• Disinvestments
• Increase of the cost or time for establishing an investment.
The IOs are identified mostly by ProColombia, the Ministry
of Trade, Industry and Tourism and the regional agencies for
promoting investments. Only ProColombia reports the IO to
the SIFAI platform.
The online platform of SIFAI facilitates keeping basic
information regarding the IO identified. Also, the alternatives
for the solution of the IO are reported in order to follow up the
solution of any IO and improve the investment and businesses
climate in Colombia
Please do not hesitate to contact the Legal Office of Business
Environment of ProColombia for further information
regarding SIFAI.