NewsWhore
07-09-2007, 06:20 PM
The nation's small and micro businesses will have access to money from the pension funds once the Law to Develop the Micro, Small and Medium Industries is approved, and the guarantee fund is established. According to persons in the area, these funds would be channeled through a sort of stock market. Juan RodrIguez, the director of the government's PROMIPYME program, said that the government is very interested in this sector and is backing the legislation that would create the framework for better financing. Spokespersons from the Dominican Confederation of Small and Medium Businesses (CODOPYME) and the Dominican Association of Graphic Industries assured reporters from Hoy that the formation of clusters would facilitate the placement of bonds in the market, and these bonds could be purchased by the pension funds. They cited the recent case of the Hidalgo Construction Company that was able to place bonds under similar conditions.
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