The government benefits more than 7,000 Pymes

Just in January they disbursed RD$150 million

SANTO DOMINGO. The program to develop the Micro, Small and Medium Companies (Mipymes) that is being carried out by the Ministry of Industry and Commerce is going "full steam ahead."

The program, an initiative of President Danilo Medina, already can count more than 7,000 companies that benefitted from it and can testify to the fact that it works. And already this month they have disbursed nearly RD$150 million in financing.

This information was released by Jose del Castillon the Minister of Industry and Commerce and Ignacio Mendez, the Deputy Minister who is in charge of the Pymes. Both officials reported that they have handed out about 6,500 loans

The government announced that it would finance the Pymes sector with about RD$4.6 billion through the Banco de Reservas and the bank's foundation. However, at the present time the commercial banks are also participating in the initiative, which is positive for the development of the sector.

Mendez said that the majority of the financing has gone into the commercial sector, service and production, but that starting next year, when the government starts to purchase 20% of the production of the sector, they will increase financing to the productive sector since the government will be purchasing school desks, uniforms and military boots. Del Castillo, accompanied by deputy ministers from the ministry, said that in the case of the Pymes they launched the program called "+Pymes" starting in Barahona, since it was one of the poorest regions in the country.

He reported that there are about seven regions in which they are working on the development of the Pymes program, and he cited Barahona and La Romana.

The official said that there is interest in supporting the undertakings, since their life span is about five years. He added that they are trying to provide financing and offer support through education in order to avoid their disappearance.

He also referred to the free zones, of which he said that they have diversified and now the country is a leader in the export of medical equipment.

He said that now they have tried to take the ministry to the people, especially the productive sectors.

Del Castillo also reported that they are working on the certification of the country for the export of meat to the United States market, as well as other items of the meat area.