Sharing Taiwan’s Industrial Development Experience - TaiwanICDF Launches MSME Consulting System Capacity Building Project in Dominican Republic
The agreement for the MSME Consulting System Capacity Building Project in Dominican Republic, jointly promoted by the International Cooperation and Development Fund (TaiwanICDF) and Dominican Republic, was signed by R.O.C. (Taiwan) Ambassador to the Dominican Republic Valentino Ji Zen Tang and Minister of Industry and Commerce Temistocle Montas on December 21, 2016. The project aims to share Taiwan’s experience in industrial development and guidance for micro, small, and medium-sized enterprises (MSMEs) to improve the performance of Dominican MSMEs as a driver of economic growth.With over 600,000 MSMEs in the country representing 57 percent of the total labor force, the development of MSMEs has a significant impact on the Dominican Republic’s economy. As such, the nation hopes to improve MSME operations by bringing in the operational model of Taiwan’s MSME consulting system and establishing a complete MSME counseling mechanism. In addition, the TaiwanICDF will assist the Dominican Republic in tracking the development of MSMEs and planning a counseling strategy, in order to strengthen and enlarge the capacity of counseling agencies, so as to achieve the goal to improve the management of MSMEs.Overall, the project will focus on upgrading the functions of the MSME counseling system, establishing industry cluster cooperation mechanisms, enhancing the MSME think tank capacity, and installing an e-commerce system. The project is expected to be completed by December 31, 2021.