Dominican President helps small industries, owners say

Dominicantoday.com , Santo Domingo , November 27 th 2007

President Leonel Fernandez handed a check for 500 million pesos to the council of micro, small and medium companies grouped in CODOPYME and its promotion agency PROMIPYME, as part of a ceremony held in the Jaragua Hotel.

The chief executive, who awarded 15 small businesses in different industries, said the micro, small and medium companies are a pillar in the Dominican economy, representing 27 percent of the gross domestic product, which provide direct jobs to one million people.

He said these companies are important part for their role in the competitiveness plan, for which industrial parks are already being developed, similar to those of cybernetics and the free zones.

PROMIPYME director Juan Rodriguez Melendez, in his welcoming speech, said Fernandez's vision and effort have motorized and developed the sector. He said the micro-companies have obtained 1.25 billion pesos, whereas more than 33,000 micro-industrialists have obtained 3.2 billion in loans .