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Best Business in the DR
This one was posted today of an interview of Carlos Julio Camilo. Right now he is the Executive President of Proamerica Bank DR. He basically go over his life from when he studied economics at INTEC, how he went to study with a scholarship to Great Britain, Chile, and did an MBA at the University of Chicago. His employments at the Central Bank of the DR, Banco Popular, Banco del Progreso, Banco Santa Cruz, Banco Promerica, etc.
He also mentions how he was impressed with the amount of highly trained economists in the Central Bank. Based on his perception, there are more economists there than in the private sector. They also go into discussing how the DR is lucky for having so many well educated people and explains much why the DR never had hyperinflation and maintains economic stability more than typical in Latin America, in addition how it’s noticeable when compared to other countries in the region.
He also mentions how he was impressed with the amount of highly trained economists in the Central Bank. Based on his perception, there are more economists there than in the private sector. They also go into discussing how the DR is lucky for having so many well educated people and explains much why the DR never had hyperinflation and maintains economic stability more than typical in Latin America, in addition how it’s noticeable when compared to other countries in the region.
Anyone interested and know Spanish, INFOTEP is offering a how to start a business course. All courses from INFOTEP (governmrent owned) are free and anyone with a cédula can take one. Usually it's young men and women, but it doesn't have an age limit. I have no idea if foreigners on a student visa are allowed to take their courses, considering the universities charge them. So technically they aren't in the DR to get a free education, but who knows (well, its not really free, it comes from the taxes that are paid, especially the Dominican middle class which is the most taxed group.)
The government also offers preferential and easy to qualify micro-loans for starting a micro-business, plus they give you free advice for the first few months regarding how to run your business, showing products, proper way of labeling of products, finances, etc. You do have to be poor to qualify though and it's a loan, as in you have to pay it back.
Many young people that spend the day doing nothing don't take advantage of all this free stuff from the government. They want things easy and to fall from the sky on their laps! In many other countries this type of stuff is for pay only.
The government also offers preferential and easy to qualify micro-loans for starting a micro-business, plus they give you free advice for the first few months regarding how to run your business, showing products, proper way of labeling of products, finances, etc. You do have to be poor to qualify though and it's a loan, as in you have to pay it back.
Many young people that spend the day doing nothing don't take advantage of all this free stuff from the government. They want things easy and to fall from the sky on their laps! In many other countries this type of stuff is for pay only.
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The best business opportunity in the DR right now is the closed Chinese restaurant in Cabarete. That place was busy all the time - lunch, dinner, and takeout. The space is for rent right now. If you can make good Chinese food, you'll have an instant success!
That place was busy because it was completely run by Chinese people. You open it again with a Dominican Cook with NO Chinese involved it will not last a month..............
I guess you never ate at this place. It was run by a Chinese family. Cooking ONLY done by the family. The only Haitians there were customers.............
Not sure if anyone mentioned this but a full service auto garage that records all services and repairs to the car. I would like to take my car to a professional company for a general service every 6 months or so and have all work entered into a computer log book so that there is a full service record. I might be wrong, but I don't think this is being offered in the Puerto Plata area? If there is please let me know.
I go back about 20 years in this place. NO Dominican EVER was the cook there. And NO Haitian EVER worked there, as that was the post I replied to............
You never looked in the kitchen then. The husband was the "chef", but there certainly were Dominicanas working back there preparing things, cooking the rice, etc.. I don't know why you're telling me that no Haitians ever worked there? I never said they did. I also said I've never seen any Haitian patrons there as you suggested.
Santo Domingo, RD.- The proliferation of Chinese-owned stores in the country is beginning to worry Dominican merchants, who are asking the authorities for a higher level of control, in order to avoid unfair competition.
Santo Domingo, RD.- Around 66% of current trade in the country is informal, a problem that stimulates unfair competition, according to data from the National Organization of Commercial Companies. But the evasive practice does not only affect Chinese businessmen, according to Eugenio Báez, president of the Dominican-China Chamber of Commerce
The problem is not new. Almost a decade ago, merchants from Duarte Avenue marched towards the Presidential Palace, in protest against the alleged unfair competition from the Chinese.
National merchants suggest reviewing in depth the tax burden with which they must comply compared to that applied to Chinese merchants.
cdn.com.do
Santo Domingo, RD.- Around 66% of current trade in the country is informal, a problem that stimulates unfair competition, according to data from the National Organization of Commercial Companies. But the evasive practice does not only affect Chinese businessmen, according to Eugenio Báez, president of the Dominican-China Chamber of Commerce
The problem is not new. Almost a decade ago, merchants from Duarte Avenue marched towards the Presidential Palace, in protest against the alleged unfair competition from the Chinese.
National merchants suggest reviewing in depth the tax burden with which they must comply compared to that applied to Chinese merchants.
Comerciantes dominicanos piden frenar competencia desleal de tiendas chinas
La proliferación de tiendas de capital chino en el país empieza a preocupar a comerciantes dominicanos, que piden a las autoridades mayor nivel de fiscalización, a los fines de evitar la competencia desleal.
cdn.com.do
Santo Domingo, RD.- The proliferation of Chinese-owned stores in the country is beginning to worry Dominican merchants, who are asking the authorities for a higher level of control, in order to avoid unfair competition.
Santo Domingo, RD.- Around 66% of current trade in the country is informal, a problem that stimulates unfair competition, according to data from the National Organization of Commercial Companies. But the evasive practice does not only affect Chinese businessmen, according to Eugenio Báez, president of the Dominican-China Chamber of Commerce
The problem is not new. Almost a decade ago, merchants from Duarte Avenue marched towards the Presidential Palace, in protest against the alleged unfair competition from the Chinese.
National merchants suggest reviewing in depth the tax burden with which they must comply compared to that applied to Chinese merchants.
Comerciantes dominicanos piden frenar competencia desleal de tiendas chinas
La proliferación de tiendas de capital chino en el país empieza a preocupar a comerciantes dominicanos, que piden a las autoridades mayor nivel de fiscalización, a los fines de evitar la competencia desleal.
Not a fan of Chinese business, especially food and ingredients. I actively avoid it when possible. Call me/it what you will.
But despite what I think you'd be hard pressed to compete with them economically in a sector that they dominante or are strongly present in. It's like fighting the USA in a traditional war. Good luck.
Best bet is to specialize in sectors that they aren't involved in.
Its explained in another thread , the Father got very sick or something along those lines, and they could not operate without him it seems . Someone also had said they would reopen in a couple of weeks , or close permanently .. so I guess its closed for good , under their ownership anyway..
I am rather surprised though that another Chinese Family could not just take it over ..
Their network of people is so vast , you would think many would be just waiting for an opportunity like this , in a tried and true Location.
That makes just no sense how no other Chinese Family is not already in there , doing the same Menu..
Maybe their asking price is too high? I suspected a situation like this, thanks for the clarification JD426.
I hope the guy gets better, or at least can live the remainder of his life in peace and without much discomfort.
You pretty much either like Chinese food or you don't. It's probably not for most epicures. If you like it, it was good food with large proportions at reasonable prices - something rarely found in Cabarete. Gringos loved it. It was always very busy for lunch and dinners. Never saw many Dominicans there, but those that I introduced Chinese food to really liked it.