During his state of the nation address on 27 February, President Leonel Fernandez announced that the Ministry of Economy, Planning and Development is preparing the nation’s long term development strategy. He said that as of this month, several sectors would be consulted once again to prepare a proposal that will evolve into a National Development Strategy Bill to be submitted to Congress in August 2010.
The President said this would serve to guide the nation towards development and progress into the next 20 years.
Fernandez also announced that he would send a bill to Congress for the Development of the Mortgage Market in the DR, which will carry a new legal framework to foster a modern and efficient real estate market in the DR.
Fernandez said that the new legislation would enable the use of funds from the insurance companies and pension funds for the construction of housing for middle and low-income residents.