Government signs agreement with UNDP to strengthen enterprises and SMEs

Government signs agreement with UNDP to strengthen enterprises and SMEs

The agreement includes help from UNDP to develop public policies aimed at business and industrial development, through the use of an information system of the Ministry of Industries

The Ministry for Industries and National Production received the deputy representative of the United Nations Development Program (UNDP) for Venezuela, Rosicler Gómez Mackliff, to discuss a cooperation agreement between the entity and the multilateral organization.

This conversation culminated in the signing of an International Technical Cooperation memorandum which, according to explains the website of the Foreign Ministry«will contribute to the promotion of the national productive sector and the improvement of the digital infrastructure of the ministry».

The document was signed by the Minister of Industries, José Biomorgi, the Vice Minister for Multilateral Issues of the Ministry of People’s Power for Foreign Relations, Rubén Darío Molina, and the Vice Minister for Small and Medium Industry and New Productive Forms, Diana Castillo, on behalf of of the ministerial portfolio; in addition to Gómez Mackliff representing the UNDP.

With this cooperation, the ministry hopes that a joint strategy will be applied to improve the technical assistance programs implemented by the Venezuelan industry, with the premise that “the capacities of entrepreneurship and micro, small and medium enterprises are strengthened.”

The UNDP promised to share the methodologies it implements to improve the business management capabilities of the ministry and impart them to companies affiliated with the ministerial portfolio, in order to better develop smaller enterprises and companies.

The agreement includes help to develop public policies aimed at business and industrial development, through the use of a ministry information system that will be called Geoportal and Observatory of Small and Medium Enterprises, Small and Medium Industry.

On the other hand, the Foreign Ministry highlights that Venezuela is part of another program with the UNDP, called “Support for strengthening social and productive resilience in the face of the effects of Covid-19 in Venezuela”, which aims to provide direct technical assistance to companies. and support startups and small businesses to recover or emerge after the pandemic.

*Also read: UCAB and Italbank seek entrepreneurs for the second edition of the business program

No conditions to start

Since the beginning of the pandemic, the Government has focused its efforts on promoting entrepreneurship in the country, with a more liberal discourse that defends the creation of new companies and the economic sustainability of entrepreneurs.

That is why the Chavismo-controlled National Assembly (AN) drafted and approved the Law for the Promotion and Development of New Ventures, a legal instrument that would seek to generate a more beneficial context for entrepreneurship in the country, with administrative facilities and access to financing. What is arranged on paper is far from reality, because there are no conditions to comply with the articles prepared by Parliament.

In Venezuela, bank credit is more a myth than a reality, since the legal reserve of 73% prevents banks from granting loans or financing projects of any kind.

As if that were not enough, the recently implemented reform to the Large Transactions Tax Law forces businessmen to pay taxes on transactions in dollars, which further complicates the scenario for entrepreneurship and medium and small businesses.

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