President Danilo Medina addressed the new generations of the wealthy families of Latin America gathered in Casa de Campo, La Romana this week for the 13th Business Meeting on “Parents and Children” that focuses on transmitting the importance of seeking a positive social impact through business to new generations of leaders and businesspeople.
In his remarks, President Medina recognized the key role of private initiatives in building the economic progress of a nation. He said he has dedicated a good part of his term since 2012 to dismantle obstacles and barriers to private investment. He commented that public policies should be consistent with clear rules for investors.
“Let us not be mistaken. It is the men and women who risk their capital in wealth and job creating ventures that have the responsibility of building economic development in Latin America,” he said. He mentioned Singapore’s success in attracting foreign investment as one to emulate.
He pointed out that the DR has received US$11 billion in foreign investment in the past five years, but has the capacity to receive much more. He spoke of the pluses for investing in the DR, but also declared that corruption is a major weakness that is morally, economically and socially unacceptable. “That unfortunate reality should not mean we stand back and look on as government officials, in their brief term in power, amass wealth that would surprise many of the business families present here, who have had to work hard for decades and make sacrifices to achieve similar levels of wealth,” said Medina. He said his government had started to control corruption with the incorporation of oversight commissions and other controls.
King of Spain Juan Carlos de Borbon, former Prime Minister of Spain Felipe Gonzalez and the former Brazilian president Fernando Henrique Cardoso, and leading Latin American businesspeople are attending the event, which continues until today, Friday 15 May 2015.
The guests are being hosted by the Cisneros, Corripio, Fanjul and Vicini families.
Read the President’s complete speech in Spanish here:
Danilo Medina pide a los empresarios invertir en el mercado local