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Support Program for Internationalization to push Peruvian companies overseasThursday, March 03, 2016 > 10:14:58
Peru’s Minister of Foreign Trade and Tourism Magali Silva announced the creation of the Support Program for Internationalization (PAI for its Spanish acronym), and its first stage investment is contemplated to reach S/.25 million (about US$7 million) in order to finance the presence of Peruvian companies abroad.
The MSME Fund Committee approved the proposal submitted by the Ministry of Foreign Trade and Tourism-Mincetur within the framework of the National Strategic Exports Plan (PENX 2025) to fund such initiative.
The program, supplemented by Promperu’s Export Route, is aimed at boosting export development of Micro, Small and Medium-sized enterprises (MSMEs) and increasing their commercial presence overseas.
“The establishment of a Support Program for Internationalization of Peruvian MSMEs is a significant effort in the implementation of PENX 2025, as a key element to expand Peruvian exports, increase the number of Peruvian companies with commercial presence in target markets and find a better way to take advantage of Peru's extensive network of trade agreements,” Silva said.
PAI will co-finance activities seeking to strengthen, promote and stimulate the internationalization process of Peruvian enterprises.
It will also provide MSMEs with specialized technical support on foreign trade and prepare studies to assess the international demand and develop the necessary knowledge to operate in international markets, which is essential to determine the success of the internationalization process.
PAI will be implemented under competitive funds that will be made available to exporters through public tender procedures.
Non-reimbursable resources will be channeled through the MSME Fund to benefit 180 enterprises across the country in the next four years.