Diary 5 days – Asunción
He Government presented a line of financing with terms of up to 15 years, a guarantee fund to facilitate access to credit and a bill that integrates the MIC and the Senatur. The announcements were made during the commemoration of the 90th anniversary of the Paraguayan Industrial Union.
The President of the Republic, Santiago Penaannounced a package of measures aimed at expanding the financing available for the industrial sector, stimulating new investments and reorganizing the institutions linked to production, commerce and tourism. The initiatives were presented during the event for the 90th anniversary of the Paraguayan Industrial Union, UIPwhich brought together national authorities and representatives of the private sector. On the occasion, the president highlighted the trajectory of the union and its participation in the productive development of the country.
The package includes the creation of the “Paraguay Industrial” line of credit, the start-up of the Guarantee Fund for the Industry, Fogain, and a bill that proposes integrating the Ministry of Industry and Commerce, MIC, and the National Secretariat of Tourism, Senatur.
Loans with terms of up to 15 years
The “Paraguay Industrial” line will offer financing in local and foreign currency. The loans will have rates of 10.5% in guaraníes and 8.5% in dollars, with terms of up to 15 years and grace periods that may reach three years. As announced, the conditions were designed considering the times necessary to install, put into operation and achieve financial maturity of the industrial projects.
The objective is to expand the availability of long-term credits, one of the main requirements of the sector to make investments in infrastructure, technology, machinery and expansion of productive capacity. The Industry Guarantee Fund will be added to this tool. He Fogain It will be aimed at supporting the credit operations of companies that do not have sufficient guarantees to access the financial system.
The mechanism will seek to reduce barriers to financing, mainly for those companies that have viable projects, but face limitations in presenting the guarantees traditionally required by financial entities. Both initiatives aim to encourage new investments, increase production and accompany the generation of jobs in the industrial sector.
Integration of the MIC and the Senatur
During the event, Grief He also gave the president of the National Congress, senator Basilio Nuneza bill that proposes integrating the MIC and the Senatur under the same institutional leadership. The proposal seeks to articulate public policies related to industry, commerce, services, micro, small and medium-sized businesses and tourism. These areas would also be linked to national strategies to attract investments and promote exports.
The project also incorporates the legal recognition of the Investment and Export Network, Rediex, within the ministerial structure. The measure aims to institutionally strengthen the country’s promotion functions as a destination for capital and a platform for export production. The initiative also recognizes connectivity as a strategic element for the development of industry, logistics and foreign trade. Likewise, it plans to strengthen the powers of the State in terms of trade defense and training for increasingly specialized productive activities.
With this set of measures, the Executive intends to generate more favorable conditions to invest and produce in Paraguayin addition to increasing the competitiveness of the industry through greater incorporation of technology, productivity and added value.
