Friday, December 2, 2022

The Government and Spanish Cooperation promote the recovery of 200 MSMEs

The Dominican Government, the Open University for Adults (UAPA) and the Spanish Agency for International Development Cooperation (AECID) closed a recovery project for 200 MSMEs in Santo Domingo Este that had been impacted by the crisis caused by the pandemic.

Within the framework of the project Recovery of livelihoods for micro and small entrepreneurs affected by the covid-19 crisis in depressed suburban areas of Santo Domingo, 200 hygiene kits and 200 pieces of equipment such as personal computers, printers, sewing machines, refrigerators and cameras.

In addition to the fact that 200 company registration and formalization processes were carried out, of which 53 were fully formalized, highlighted a statement from the Ministry of Economy, Planning and Development.

Likewise, 200 business plans were prepared, with templates to allow the beneficiary to restructure their business after the pandemic; 200 diagnoses made to see the level that the beneficiary’s company occupies and training in social networks.

The AECID and the UAPA contributed with the financial support of the program, with a contribution of €270,000, the information assured.

The Vice Minister of International Cooperation of the Ministry of Economy, Olaya Dotel, explained that in the Dominican Republic 98% of formal and informal companies are MSMEs, they generate more than 50% of employment and contribute more than 38% to the gross domestic product (GDP). ).

Meanwhile, the general coordinator of AECID in the country, Manuel Alba Cano, explained that this international cooperation initiative allowed many companies to be saved and praised the general response of the Dominican Republic to the health and economic crisis caused by covid-19.

The rector of UAPA, Miriam Acosta, expressed that the institution assumes social responsibility as one of its fundamental functions and has “historically” committed to the development of programs and activities aimed at contributing to the satisfaction of basic needs of vulnerable communities in the country, as well as with its social development.

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