Latin America and the Caribbean is caught in a trap of low capacity for growth, largely because productivity has stagnated and even declined over the past decade. Escaping this trap requires a profound productive transformation, and the way to achieve this is to scale up and improve productive development policies following the new vision that the Economic Commission for Latin America and the Caribbean (ECLAC) has been advocating. The Panorama of Productive Development Policies in Latin America and the Caribbean, 2025 addresses four themes that were selected for their strategic importance and complementarity: (i) productivity, which is the core structural challenge; (ii) science, technology and innovation, as key drivers of productive transformation; (iii) productive coordination via cluster initiatives and other governance and collaboration mechanisms, which is essential for mobilizing key actors and multiplying impacts; and (iv) environmental sustainability and social inclusion based on green and inclusive productive development policies, these being principles that should guide the best version of this transformation. Together, these themes form a road map for progress towards higher, sustained, inclusive and sustainable growth that can also accelerate the achievement of the Sustainable Development Goals.