Speaking to a group of 80 Spanish businesspeople in Valencia, Spain, President-elect Leonel Fernandez said that the DR?s present economic crisis is one of liquidity, not a structural one, and stressed that hard-currency generating businesses have been dynamic. Fernandez said the liquidity crisis could be managed with foreign resources and that his economic team is presently working on tackling the problem. As reported in Hoy newspaper, President-elect Fernandez said advances were made to resolve the quasi-fiscal deficit following his meeting with President Jose Luis Rodriguez Zapatero.
Fernandez, who is on a tour of Spain, also met with the chief of the government of Valencia, Francisco Camps, after which meeting he said they had committed to bilateral cooperation for the training of teachers.
During his stay in Valencia, he visited Modragon, described as the world?s largest irrigation systems plant. According to Fernandez, this company has plans to do business in the DR. Fernandez said several of the companies attending the meeting have similar plans to enter the Dominican market. Among these are manufacturers of furniture, tiles, and infrastructure engineering firms.
President-elect Fernandez personally invited Camps to his inauguration on 16 August. Camps said his attendance would be a way to strengthen ties for the future with the DR in a political and institutional manner.
The Generalitat Valenciana has been present in the Dominican Republic with cultural cooperation programs in recent years.