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  1. #1
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    Thumbs up Let's Debate This: On the FT Report, And Will the CFI Fly....

    per DR1,

    The Financial Times has just published a report about the Dominican Republic. [...]The report highlights the stabilizing of the economy, the renewed relationships with foreign creditors and the bringing to order of fiscal accounts by the Fernandez administration after what it calls "the disastrous administration of Hipolito Mejia." It points out that the economy has revived and that Fernandez enjoys high popularity ratings. [...] The contents of the section are:

    - Order and stability bring hopes of prosperity
    - Leonel Fernandez: From left-wing past to the voice of reason
    - Energy: Why power to the people remains but a dream
    - Tourism: Sights set firmly on big-spending US visitors
    -Banking: Tougher regulation brings more confidence
    - Offshore centre: Ambitious idea to take on the world
    [...]
    - DR-Cafta: Negotiation opens opportunities
    [...]
    http://news.ft.com/reports/dominicanrepublic2006


    Per Clave Digital,

    Proponen establecer un Centro Financiero Internacional en el país
    Last edited by aegap; 03-10-2006 at 07:06 PM.

  2. #2
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    Question How much credence can we give to the following?...

    Per the Financial Times,

    (Ambitious idea to take on the world OFFSHORE CENTRE)

    [...]

    Gaetan Bucher, a Swiss-Dominican private banker developing the project [Laifex], is in no doubt about what he is taking on. "Talk about taking on a challenge," he says. He plans to house a complex built at a cost of more than Dollars 600m on a 17 sq km greenfield site at Guayacanes on the Caribbean coast. The site is midway between Santo Domingo and the Casa De Campo resort and will include office space, a conference centre, independent power generators and a private landing strip.

    He proposes to base the project around a central settlement and clearing house facility for Latin American bond trades, an area that has boomed in recent years following the restoration of stability in Mexico, Brazil and the rest of the region. Trades in Latin American debt instruments amounted to Dollars 2,940bn in 2004. The clearing facility, to be called Laifex, would be the hub of a broader financial services centre to be known as the Independent Financial Centre of the Americas.

    [...]

    "Instead of an auditor coming in once a year you'll have constant live and real-time monitoring of transactions," Mr Bucher says.

    Reinforcing this thrust is an effort to brand the Dominican Republic as a more interesting place to live than smaller neighbouring Caribbean islands, which will, he hopes, attract bankers.

    [...]

    Laifex, "The hub of a broader [banking] financial services centre to be known as the Independent Financial Centre of the Americas," a "clearing house facility for Latin American bond trades" with its own "private landing strip"

    How feasable is it?
    Last edited by aegap; 03-10-2006 at 07:05 PM.

  3. #3
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    Exclamation Official Website

    .......




    .......


    CFINTE Expert Consultants,

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    Time of Your Life...Great pics of Haiti...ses!

    There're hiring!!

    , seems DR will have an employer worthy of me after all, , .


    .......de vous en prie...de nada...your welcome...
    Last edited by aegap; 03-12-2006 at 02:50 PM.

  4. #4
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    Default

    Quote Originally Posted by aegap
    - Tourism: Sights set firmly on big-spending US visitors
    -
    The Ministry of Tourism in my opinion is pretty clueless and has no idea how to capture the USA market. Right now they are doing what they have always done, push mass market and tour operator driven tourism. They are lost when it comes to the development of low density, high dollar yield market. This is the American market and should be the future of tourism here. But no, we continue to promote and build high density and low US$ yield developments.

    They yap about how the numbers visiting are increasing etc. But they never talk about the US$ yield falling. The current model that the Ministry is pushing is not sustainable, everybody in tourism here knows that, except for the government. Then again, when your in office for 4 years and have a vested interest in certain chunks of land, what more can you expect. Greed and corruption rules the day in the DR and it's no different in the tourism sector.

  5. #5
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    Default

    Quote Originally Posted by aegap
    They gotto do all this to get people to work for them? Huh?

  6. #6
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    Thumbs up

    Chris, give me some expert analysis pretty please..

    Robert, I take the article is more in reference to investment already being made today, by the private sector ...i.e. more upscale touristic investment is being made in DR than in any other Caribbean island.


    CFINTE Stratigic Advisors:

    Vince Colvin, Deloitte & Touche, UK (about Deloitte, a Big Four member)

    Read Mccaffrey, Patton Boggs, Wash. (about PB, the U.S. leading public policy law firm)


    [both were present at the announcement, per ClaveDigital (see link above)]


    Sounds like they (the CFI) mean business....(?)

    ...Take this,

    [Bucher] aclaró que los detalles del funcionamiento del Centro se darán a conocer próximamente, mientras que los objetivos serán anunciados este viernes en Londres con la **** de atraer inversiones. (source: ClaveDigital.com)


    [President] Leonel Fernandez to visit the UK in what is being [billed] as a "historic" visit. [...]He will also meet with Prime Minister Tony Blair, Members of Parliament, businesspeople, bankers, financial analysts, and holders of Dominican bonds. Important announcements about British investments in the Dominican Republic are expected to be made during the visit." (source: DR1)

    ...coincidence?, I ask
    Last edited by aegap; 03-14-2006 at 05:44 PM.

  7. #7
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    Default

    Quote Originally Posted by aegap
    Chris, give me some expert analysis pretty please..
    Huh? no way...

    More seriously, I do not know anything about this. I was simply commenting on the slick website. The old adage in the DR is, see it with your own eyes and then believe it, and even if you see it, you may not see what you think you're seeing. The only thing I do know, is that Fernandez is really good at attracting good and positive international press. Whether we will see a real economic improvement because of it, in my book is still an open question. An independent financial center for Latin American trade at this stage with our history, really stretches the credulity (or is in incredulity?)

  8. #8
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    "The only thing I do know, is that Fernandez is really good at attracting good and positive international press."



    I'm not good with words, but here it is: lots of (financial and political related) lawyering and PRing firms apperently involved, working for the CFI...the CFI should have regulations tailored made, which will subsequently be rubber stamped by the Dominican government, per my take on it.

    The Official Site (A new International Financial Center in the Dominican Republic, at the heart of the Americas)

    Groundbreaking scheduled for April.

    About The Financial Times

    P.S. I think DR-CAFTA will be used to curtail any negative; half-a-thumb up to DR-CAFTA
    Last edited by aegap; 03-14-2006 at 06:43 PM.

  9. #9
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    Lightbulb

    (An) IFCAmericas benchmark: The Dubai International Financial Center (DIFC)

    (A) LAIFEX benchmark: The Dubai Internatinal Financial Exchange (DIFX)


    LAIFEX in El Pais

    Here is an excerpt highlighting where they hope to find their main competitive advantage:

    [...]

    El objetivo es crear una bolsa de valores electrónica, llamada Laifex, para conciliar y liquidar emisiones de renta fija de empresas privadas e instituciones, así como deuda de mercados emergentes, y contar con una cámara de compensación que agilice las transferencias internacionales desde y hacia América Latina. Los mercados de deuda latinoamericanos están muy fragmentados. Los activos nominados en dólares se liquidan y se negocian en Nueva York y Londres, "mientras que los activos nominados en moneda local se liquidan en los bancos centrales de los países. Ésta es una oferta única que revolucionará la banca de la región a través de infraestructuras informáticas hechas a medida", comentan fuentes del centro. [article]

    [...]

    El Pais is Spain's most read (widely-circulated) newspaper.


    *I would have named it MacorEX ...but that is just me, personal preference I guess...
    Last edited by aegap; 03-15-2006 at 05:19 PM.

  10. #10
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    Default Here Is a "Can't Miss" Ad Campaign For The USA From The DR's Tourism Dept!

    Could be promoted during Major League Baseball Telecasts in major US Cities along the Eastern Seaboard,and maybe west to the Mississippi.

    "Ever Wonder Waht Makes Dominican Baseball players so good??"

    "Why not come down and see for yourself?"
    *********************************************************
    Show the kids swimming at the beach
    Show kids eating Mangos,Avacados,Bananas,
    Show the same kids playing "Ball" with their "Sticks" for bats,and homemade "String & tape" balls.
    Show some Dominican Baseball "Stars" hitting,pitching,aand catching in the "Bigs"
    Show the same players back in the DR living the "High Life"
    **********************************************************

    "You may never be a "Big League Ball Player,but you can live like one this winter,in the DR!!!
    ********************************************************** Show a "Gringo" with his family at a beautiful beachhouse in the North Coast!
    __________________________________________END____________________


    Bet that might bring a few folks down for the "Off Season"!!!!!!!!!!
    They might even buy that beach house!!!!
    CCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCC

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