MSMEs for economic growth and job creation

Minister Bisonó: “MSMEs are fundamental for economic growth and the creation of jobs in the DR”.

The Minister of Industry, Commerce and MSMEs (MICM), Víctor “Ito” Bisonó Haza stated that MSMEs are the fundamental link for economic growth, the promotion of decent work and the increase of people’s quality of life.

Minister Bisonó emphasized that in our country, MSMEs represent one of the most important sectors in the sustainability and development of the Dominican Republic, as they make up 98% of the business fabric, and generate more than 50% of employment in the economy, in addition to contributing 38% to the Gross Domestic Product (GDP).

He outlined the achievements in this sector at a luncheon that Promipyme and the business sector of the municipality of Santo Domingo Este offered to the head of the MICM for his great support to the sector.

The Minister considered the scenario “propitious to reaffirm the support and commitment that the Ministry of Industry, Commerce and Mipymes has assumed, to increase the competitiveness, productivity, quality and innovation of this sector”.

“You, traders and entrepreneurs, are right in the center of the public policies that are promoted from the government of President Luis Abinader. In these two years of management, from the MICM we have developed technical assistance programs, to strengthen the capacities of MSMEs, such as access to financing, formalization of their businesses, digital marketing and good management practices,” appreciated the official.

Bisonó highlighted the implementation of the Plan for the Reactivation of MSMEs, where more than 4 billion pesos were made available through entities such as Promipyme, Banco de Reservas, Fundación Reservas del País, Banco Agrícola and Instituto de Desarrollo y Crédito Cooperativo. To date, more than 13.5 billion pesos in loans have been granted through Banca Solidaria.

He affirmed that the Government is focused on generating the necessary conditions to promote access to new markets by MSMEs, which translates into higher levels of sales and productivity.

He emphasized that last January the course of the Dominican industrial MSMEs was set with Decree 31-22, which instructs all State institutions of a social nature to purchase exclusively from micro, small and medium industries, and to prioritize the purchase of products manufactured in the country.

Ito BisonóHe maintained that this initiative boosts the work he has been doing in the MICM to promote the Mipymes Certification and access to public procurement.

“Just to give you an idea, in these months of management we have granted more than 21,000 MSME certifications, achieving that new companies are registered as suppliers of the State and have the possibility of accessing in an exclusive way, to 20% of the tenders that are carried out in the different public institutions”.

He also pointed out that the equitable participation of women in the business fabric was also promoted, allowing for the first time, and in a real way, micro, small and medium-sized businesswomen to benefit from an exclusive 5% for companies led by women.

The Minister emphasized the construction of new and better tools to help the growth of all sectors of the country, such as the process of carrying out the “First MSME Census”, in alliance with the Central Bank. This will set a precedent for the systematization of the statistics of this sector and will allow the creation of a directory of its companies, in order to know their needs and implement a business development policy for MSMEs.

He underlined that the business sector and Promipyme enhance the economy because they work with dedication and strength. “Today, more than ever, we must continue walking hand in hand to continue strengthening small and medium enterprises, to make the Dominican Republic a stronger, more dynamic, more competitive and fair economy.”

The Government of MSMEs

For his part, the general director of the National Council for the Promotion and Support of Micro, Small and Medium Enterprises (Promipyme), Porfirio Peralta Collado, highlighted the words of President Luis Abinader, who has expressed that this is the Government of MSMEs, which are having an impact throughout the country. “From Promipyme we have worked every day to improve the quality of our services, the conditions of our programs and the scope of these throughout the national territory,” he said.

He highlighted that Minister Bisonó is an official who works every day to promote the sustainability and growth of the country’s MSME industries and commerce. He stressed that “he is a visionary, hard-working and committed to this sector, directly supporting five sustainable development goals, the end of poverty, zero hunger, quality education, gender equality and decent work and economic growth”.

Peralta said that his administration is promoting the Visionary Municipality project, which encompasses three important pillars of impact: sustainability, entrepreneurial youth and entrepreneurship in the municipality.

During the luncheon meeting with businessmen and entrepreneurs of Santo Domingo East, in addition to Minister Bisonó and Peralta, Evaristo Calderón, president of the Consultative Committee of the municipality of SDE; Luis Miura, president of Codopymes, and Ana Iris Fernández, who was in charge of the invocation to God, also spoke.

Learn more: ECONOMY

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