Colombia, the fourth largest economy in Latin America, is back on track after decades of conflict. The country is looking to open up opportunities by addressing structural challenges, further benefiting from trade and investment, and increasing productivity. Colombia's march towards prosperity requires transforming the economy through a renewed policy approach that prioritises an expanded knowledge base, unlocks regional potential and fast tracks digital technologies. The success will depend on Colombia's capacity to leverage its long-standing planning capacity and its ability to bring together all the relevant stakeholders. The Production Transformation Policy Review (PTPR) of Colombia provides a novel and timely assessment of the country's industrialisation strategies. It relies on international peer learning and domestic consensus building, and benefited from knowledge sharing through the OECD Initiative for Policy Dialogue on Global Value Chains, Production Transformation and Development.