SMEs get US$12.1B in 4 years; free zones earn US$345.2M, official says

Santo Domingo.- Industry and Commerce Minister José DelCastillo on Thursday said around 275,000 MSMEs were benefited with US$12.1 billionfrom 2012 to 2016, through the Solidarity bank.

He said Industry and Commerce has mechanisms to promotefunding to secure the MSMEs’ access to credit, citing the Reservas bank’s disbursementsof RD$6.6 billion to benefit more than 8,450 MSMEs in just four years.

He said president Danilo Medina’s administration has redirectedpublic policies and provides a vital instrument to national productive sectors,which in his view ultimately benefit the Dominican people.

Web

Del Castillo also announced the website Formalizate.gob.do,a one-stop business window which has already integrated 18 chambers of commercenationwide, and he affirms has formalized over 3,400 companies as of June.

Industrial free zones

The official said the number of free zone parks operating jumpedfrom 51 to 65 for yearend 2015, creating 162,000 jobs, or 28.8% more compared with2011. “The cumulative total investment of free zone companies grew 38.7% and newpermits were issued to install 249 free zone companies."

“An RD$14.1 billion investmentwas estimated to develop and implement these new business operations, generatingUS$345.2 million in foreign currency and more than 49,000 new direct jobs,”said Castillo during a