President Abinader. He headed the expansion of the company’s facilities
President Luis Abinader yesterday led the start of the second stage of expansion of the Cano Industrial company with an investment of RD $ 200 million and the generation of 400 jobs in Santo Domingo Oeste, in an act in which he highlighted his commitment to work for an economy open, competitive and inclusive.
He expressed that “as I said, this is what I like the most; employment, employment and employment ”.
The expansion of Cano Industrial will increase production capacity by 150%, in the lines of sealants, coatings and other products related to the construction sector, explained Wadi Cano Acra, president of that company.
He said that 15 years ago that company employed 75 people and today it has 348 employees, 10% more than in 2020 and that its goal is that in 2023 direct jobs increase by 20%.
Cano Industrial has been in the Dominican market for 62 years, going from being a SME to an industry of almost 400 direct employees, with a total investment of RD $ 600 million, with exports of its products to eight countries.
The Minister of Industry and Commerce and MSMEs, Víctor Bisonó, said that President Abinader was visionary in declaring industrialization a national priority.
President Luis Abinader also participated yesterday with the first lady, Raquel Arbaje, in the National Palace in the delivery of the CABEI-Solidarity Awards for Microenterprise, where the president pondered the role of MSMEs that represent 98% of the business fabric of the country, they generate 50% of the jobs in our country with a direct contribution to the economy of 38% of the GDP ”.
The categories awarded in the CABEI-Solidarity Awards for Microenterprise were Resilient Entrepreneur, Artisanal Creativity, Agricultural Development, Digital Innovation, Environment, Young Entrepreneur, Family Microenterprise and Award for the Microenterprise of the year.
The Banco de Ahorro y Crédito Adopem received the Award for Institutional Management of Financial Inclusion and its president Mercedes Canalda and Rafael Correa were recognized.
181 proposals were received from nominees by 17 microfinance institutions from five Latin American countries.
Juan Francisco Banegas, president of CABEI-Solidarios, said that microentrepreneurs are an engine that drives economies and reduces poverty levels in the region.