Government of AMLO will extinguish the National Institute of the Entrepreneur

The head of the Ministry of Economy, Graciela Márquez Colín, said that the support to entrepreneurs will continue.

Graciela Márquez Colín , Secretary of Economy, said Friday that the federal government will eliminate the National Institute of the Entrepreneur (Inadem).

Asked if the program ‘Young People Building the Future’ is a program similar to what the institute does, Márquez pointed out that the program is specific to employment and that Inadem will be extinguished.

“This is an employment program (‘Youth Building the Future), (the Inadem) we will extinguish,” he said in an interview for media.

The official said that despite the extinction of the institute, support for entrepreneurs will continue.

“We are going to give 3 billion pesos in microcredits,” he said.

The National Entrepreneur Institute was created by decree in January 2013 by the administration of then-President Enrique Peña Nieto .

Among the functions for which the body was created were support for micro, small and medium enterprises as well as support for entrepreneurs.

In August, Alejandro Delgado Ayala , who served as head of the institute in the presidency of Peña Nieto, said that in the past six years more than 641 billion pesos were allocated to the agency.

On the other hand, the program ‘Young Building the Future’, signed this Friday by Luisa María Alcalde , Secretary of Labor, and various business leaders, including Juan Pablo Castañón , president of the Business Coordinating Council, seeks to support 2.3 million young people with job training in companies such as América Móvil, Santander Bank, Citibanamex, Lala Group, Liverpool, Herdez, Oxxo, Sanborns, Walmart, among others.

The plan proposed by president Andrés Manuel López Obrador during his campaign to the Presidency was joined by 230 private sector companies that will train young people between 18 and 29 years for a year.

At the end of that period, the participating companies will deliver a certificate to the fellows that will endorse the skills and abilities acquired at work.

Source: El Financiero

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