Details of a preliminary report published by the BHD Bank’s Business Consultancy Program is reporting that around one third of Dominican business could close after the country’s entry into DR-CAFTA if they fail to make the proper fiscal reforms. BHD president Luis Molina Achecar informed that 30% of businesses are competitive while 40% can be considered indifferent. The assessment program, ASE-CAFTA, evaluated the market competitiveness of each of the business studied.
The president of COPODYME, the Dominican Council for Small and Medium-sized businesses also advised that with the energy crisis, lack of financial backing from commercial banks, and obsolete technologies many businesses will have a tough go of it once DR-CAFTA is in place.