Agreement to support SMEs signed with Conindustria

To provide integrated support for a group of small and medium-sized enterprises (SMEs) in the manufacturing sector, the Andean Development Corporation (CAF) and the Venezuelan Confederation of Industries (Conindustria) today signed a technical cooperation agreement for $219,000 to finance a Plan to Promote the Development of Exporters.

CAF Executive President Enrique García and Conindustria President Lope Mendoza signed an agreement for a project to give SMEs access to international markets.

After the signing, Enrique García said that support for the SME sector was one of CAF´s priorities as a fundamental sector for stimulating economic reactivation.

In this context, the CAF has designed the two-year Program for Integrated Support for SMEs, which includes business assistance, capitalization and credit, combined with stimulus for institutional strategic alliances with value added. This approach aims to create a more efficient channel for financing the sector.

Support for 30 SMEs

The agreement signed with Conindustria envisages the diagnosis of 30 manufacturing SMEs with export potential in six sectors: printing, plastics, aluminum, clothing, agroindustry and autoparts. The firms will receive assistance to develop projects that improve management in an effort to integrate them into international markets.

The program also covers the design and execution of projects to improve the areas identified in the diagnosis in relation to strengthening competitiveness, quality and internationalization; increasing the quality of enterprises through technical assistance; supporting the demand for consulting services on international trade; generating a cultural change in first-line managers and business owners through a self-diagnosis and personal growth program.

The plan also proposes to strengthen the process of change through workshops, and formulation of conclusions and lessons on the application and impact of the model, with recommendations for the adjustments needed to develop a replicable model on a larger scale in a later phase.

Conindustria President Lope Mendoza said he was pleased with the agreement with the CAF, which becomes the first international assistance program for the Venezuelan export sector. He added that the initiative would contribute to the strategic objective of diversifying the Venezuelan economy, utilizing the spare capacity in the domestic industry and creating employment.

The Metropolitan University will participate in the program through junior consultants and workshops designed to improve the management of the SMEs in the program Mendoza added.

The Venezuelan Confederation of Industries, Conindustria, is the leading organization in the Venezuela industrial sector, grouping over 50 Venezuelan industrial chambers and associations, including 39 at sectoral and 13 at state level. Conindustria also represents 30 medium and large manufacturing companies, which joined the association as special active members and associate member companies. Conindustria represents 90% of national industrial production. For more information, visit the Conindustry website www.conindustria.org.