NewsWhore
09-07-2012, 03:10 PM
The Government Action Plan for Micro, Small and Medium-Sized Business (Pymes) was announced at the Presidential Palace yesterday, Thursday 6 September in the presence of President Danilo Medina. The program, which will provide low-cost financing, technical and legal assistance to this sector of the economy, will go into effect on 16 September and will operate under the Vice Ministry of Pymes, a new department of the Ministry of Industry and Commerce. The president of the Federation of Industries, businessman Ignacio Mendez was appointed to head the department.
Mayra Jimenez, director of Promipyme, the entity that promotes the small business sector, said that the plans would benefit 75,000 people in the first year, growing to 500,000 by 2016. The credits will range from RD$2,500 to RD$75,000. The plan is to reach out to help small retailers, manufacturers, artisans, fishermen, small and medium-sized builders, store owners, service providers, consultants, independent professionals and others who currently tend to operate in the informal economy.
Minister of the Presidency Gustavo Montalvo announced that the government has RD$10 billion available for micro, small and medium-sized businesses. He said the Banco de Reservas has RD$4.6 billion, the National Housing Bank (construction sector), the Agriculture Bank (agriculture sector) RD$2 billion, Promipyme RD$1.5 billion and the Bank for Women and the Poor another RD$1 billion.
Montalvo said that from a normal 30-day processing of loans at present, the plan is to expedite credit so that applicants can receive the funds within five days.
The European Union has donated a further RD$1 billion for technical assistance and training to an estimated 25,000 micro-businesses in order to improve their productivity, innovation, incorporate new technology, secure quality certifications, energy savings and legal incorporation. The loans will be available through commercial banks and Promipyme at a preferential rate.
Montalvo announced that as of next year's budget (January 2013), the government is ordering government procurement to be made to small business, in compliance with Law 488-08 that stipulates that small businesses should get 20% of government procurement contracts.
Vice President Margarita Cedeno, Banreservas administrator Vicente Bengoa, Minister of Higher Education Ligia Amada Melo, Infotep director Idionis Perez and National Competitiveness Council director Andres Vanderhorst were also present during the announcement.
More... (http://www.dr1.com/index.html#2)
Mayra Jimenez, director of Promipyme, the entity that promotes the small business sector, said that the plans would benefit 75,000 people in the first year, growing to 500,000 by 2016. The credits will range from RD$2,500 to RD$75,000. The plan is to reach out to help small retailers, manufacturers, artisans, fishermen, small and medium-sized builders, store owners, service providers, consultants, independent professionals and others who currently tend to operate in the informal economy.
Minister of the Presidency Gustavo Montalvo announced that the government has RD$10 billion available for micro, small and medium-sized businesses. He said the Banco de Reservas has RD$4.6 billion, the National Housing Bank (construction sector), the Agriculture Bank (agriculture sector) RD$2 billion, Promipyme RD$1.5 billion and the Bank for Women and the Poor another RD$1 billion.
Montalvo said that from a normal 30-day processing of loans at present, the plan is to expedite credit so that applicants can receive the funds within five days.
The European Union has donated a further RD$1 billion for technical assistance and training to an estimated 25,000 micro-businesses in order to improve their productivity, innovation, incorporate new technology, secure quality certifications, energy savings and legal incorporation. The loans will be available through commercial banks and Promipyme at a preferential rate.
Montalvo announced that as of next year's budget (January 2013), the government is ordering government procurement to be made to small business, in compliance with Law 488-08 that stipulates that small businesses should get 20% of government procurement contracts.
Vice President Margarita Cedeno, Banreservas administrator Vicente Bengoa, Minister of Higher Education Ligia Amada Melo, Infotep director Idionis Perez and National Competitiveness Council director Andres Vanderhorst were also present during the announcement.
More... (http://www.dr1.com/index.html#2)