Procomer and CABEI will support SME suppliers of the medical device industry

The Central American Bank for Economic Integration (CABEI) and the Foreign Trade Corporation of Costa Rica (PROCOMER) signed a non-reimbursable technical cooperation for US $120,000; with funds from the European Union through its Latin America Investment Facility (LAIF) and the German Government through KfW, which will support Small and Medium Enterprises (SMEs) with potential to be suppliers of the Industry of Medical Devices.

The objective of this initiative is to provide support to SMEs on issues such as quality standards, supply, business, commercial and environmental management, evaluation of productive capacities, and other aspects that affect the company’s productivity so that they can be linked to companies located in the country that export medical devices.

“The sector of precision and medical equipment has had the most dynamic behavior of Costa Rican exports in recent years, representing for 2017 26% of total exports of goods with an amount exceeding $2.7 billion. It is very important to take advantage of this growth for Costa Rican SMEs to join the global value chains of the medical device industry. These linkages will allow SMEs to improve quality standards and increase their competitiveness,” said Pedro Beirute Prada, manager of Procomer.

This strategic partnership is promoted by DINAMICA Initiative, a Tripartite Initiative with CABEI as executing agency, the European Union as part of its LAIF Facility, and the Government of Germany through KfW. Its main objective is to strengthen the business ecosystem for MSMEs and especially for young and/or innovative MSMEs. This approach also includes strengthening the financial sector at the regional level to promote adequate access to financial services for these MSMEs.

“There are important market opportunities for the development of new products and services that can be supplied by SMEs. However, these opportunities are not always exploited, in the absence of their timely identification, clarity in the processes necessary for compliance with requirements, and a culture of innovation management. These are some of the items that will be addressed in the Project that is being supported,” said Mr. Mauricio Chacón, CABEI Manager for Costa Rica.

This initiative is part of the guidelines established by the Productive Chains Commission led by the Ministry of Economy, Industry, and Commerce (MEIC) in which PROCOMER participates. Geannina Dinarte, Minister of the MEIC, indicated that

“projects of this scope allow to boost national development because SMEs are the engine of our internal economy. In addition, the interinstitutional work and the articulation between the different support services generate even more important revenues, since the State transcends the inefficient historical operation that visualized the institutions as separate islands, and rather works with a systemic logic, integrally addressing the needs of the SMEs. This initiative is totally aligned to the objectives defined in the public policy that the MEIC has generated as the governing entity of the SME theme, in which it prioritizes access to markets through productive linkages and the development of suppliers. In addition, it expresses the need to scale up collaborative work at the inter-institutional level to achieve greater involvement of the private sector and cooperating agencies.”

Companies interested in being part of this initiative must have an SME certificate issued by the MEIC and must register with Procomer as of April 23. After that, they will be diagnosed by the Promotora’s expert staff, based on the needs previously established by the companies of the Medical Devices Industry. Ten SMEs will be chosen for accompaniment in the closing of gaps through specialized technical support, and the facilitation of a Business Roundtable with the multinational companies of the industry.

Original source: BCIE
Published on 16 April 2018