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Government launches one-stop window to boost SMEs

Santo Domingo.- The industry and Commerce Ministry on Wednesday launched a one-stop window to register small and medium-sized companies, which regulates and promotes the sector.

The program aims to benefit small and medium businesses quickly and more effectively, and has the support of the Federation of Chambers of Commerce, the National Industrial Property Office, the Internal Taxes Agency and Santo Domingo’s Chamber of Commerce and Production.

During the presentation at the Museum of Modern Art, Industry and Commerce minister Jose del Castillo said the service will help people with startup businesses or formalize existing ones

“Our goal is to promote the creation and formalization of small, micro and medium-sized businesses, taking into account that this sector represents 96% of the companies in the country and contribute 27% to GDP,” he said in the launch, coordinated by Deputy minister Ignacio Méndez.

“Previously the formalization process involved seven transfers, three forms, four payments in different agencies, four visits to different administrative units and at least twenty working days to get the final answer. “Now, through www.formalizate.gob.do, the process to form company is done in only seven working days, and only one transfer to the Chamber of Commerce.”

Source: DT

Category: DR News |

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Last updated December 6, 2016 at 12:34 PM
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