Taking as a starting point a study carried out by the Dominican Association of exporters (Adoexpo), in August 2022, which revealed their disagreement with some services of the dominican bankexperts in this sector spoke yesterday about the growth of the local export system and ways to improve it.
During the second day of the Latin American Congress of Foreign Trade (Clace), the panel was held “Innovations in Financing for exporters”, where the results of the study on the financial needs of the exporters Dominicans.
Elizabeth Mena, president of Adoexpo, explained that this study was carried out with the exporters Dominicans about their financial needs, based on 35 companies that lead the miles of exports in the country.
The survey served as the basis for the panel to be carried out, which included the participation of Manuel Martínez, Vice President of Treasury of Banco Múltiple Santa Cruz; José Obregón, Senior General Director of International Business and International Expansion and Governance of Banreservas; and Eduardo Baldera, vice president of the international, institutional and investment banking area of Banco Popular Dominicano.
Despite the data showing that there are around 15,000 exportersnot all of these are exporters recurring that mark an index in exports.
“These companies were identified in such a way that we could have a general sample of what the exporting world is like,” Mena pointed out.
The companies were from all areas: few employees, less than 10 and those with more than 1,000 employees. In addition, those that have years of experience and have established themselves as large exporters Dominicans.
The results
Among the data provided by the study, it stands out that more than 28.6% of the exporters interviewees were dissatisfied with the services offered by the dominican bank.
Among the main complaints and difficulties cited to be able to have financial services was the cost of products and services (60%), not offering some financial products and services (20%), that there was nothing especially aimed at the export sector (10% ) and the speed of response time (10%).
“We have few satisfied at around 31 percent,” said the president of Adoexpo, who stressed that there is a percentage that is interesting when it comes to improving services.
He highlighted the fact that 60% of those surveyed considered that the main difficulty for exporters Being able to internationalize your projects and services is the cost of doing business with banks.
“The big complaint from everyone has always been the cost of how much the banks charge, what is the cost to be able to obtain the services,” Mena pointed out, at the same time that he indicated that the importance of the panel revolved around what are those products that the export sector needs from banks to be able to produce, internationalize and market their products and services.
The bankers’ response
The experts discussed the services offered to exporters and the facilities that they can offer them.
In his participation Edward Baldera, representative of Banco Popular, indicated that the survey helps to establish a reference framework to support this sector.
He said that, in general, the dominican bank has been involved to see how the needs of the export sector can be met.
He explained that he would dare to separate the universe from the exporters in two: one in the big ones and the other in the not so big ones, where there is the diversification of the exporters Dominicans, who are the ones who have the greatest difficulties with credit.
“The big ones don’t have that problem (credit), because they have balance sheets and have their companies in other countries, and they have access to credit, relationships and robust contracts with international buyers; and the not so big ones (exporters) don’t have that great virtue” , stressed.
And he added that, within the great limitations that these exportersthe dominican bank you can try to navigate between those to create products and services that can address those needs.
He assured that the important thing is to understand how, among all of us, some of the things raised in the documents that regulate the dominican bank.
While José Obregón, from Banreservas, referred to the fintech or financial technology, noting that the dominican bank It has undergone a series of renovations that allows it to have greater ease when making transactions.
He added that in the Dominican Republic there are small Dominican producers who sell to large hotel chains and for them there are a number of services that banks offer.
While Manuel Martínez, vice president of treasury of Banco Múltiple Santa Cruz, explained that the import sector is at its best moment, since in 2022 it was one of the sectors that generated the highest foreign currency.
He said that before this closure the dominican bank You must put your grain of sand.
30% of the exporters Those surveyed stated that they did not feel comfortable with the products offered and, in this sense, Martínez said that it is up to bankers to cover the needs of this sector.
“We need to reach the export sector in the same way as we have efficiently served importers,” Martinez stressed.
