The Abinader administration is applying its pro-business model to fresh produce markets nationwide.
President Luis Abinader announced the country now has a trust for the construction, remodeling, and expansion of Santo Domingo’s wholesale markets, as reported in Diario Libre and Hoy.
Through decree 357-24, the President mandated the creation of the “Public Trust for Real Estate Development, Administration, Investment, Payment Source, Guarantee, and Public Offering, to be named Public Trust for the Modernization of Santo Domingo’s Wholesale Markets (Fimerca-SD).”
This initiative targets historic markets in the capital where hundreds engage daily in commerce, moving millions of pesos, despite the poor condition of the structures.
Article 3 outlines the trust’s objectives:
“The purpose of Fimerca-SD Trust is to receive movable and immovable assets identified by the Dominican State and the National District Municipality, aimed at constructing, remodeling, expanding, and integrating community, cultural, social, and commercial aspects of wholesale markets and surrounding communities.”
The trust will manage “the operations, investment, and financing of activities resulting from sales, rentals, leases, and infrastructure development on contributed assets.”
Fimerca-SD comprises the Dominican State, represented by the Ministry of the Presidency as settlor, Fiduciaria Reservas, S.A. as trustee, and the National District Municipality as beneficiary.
The trust will operate for 30 years from the date of its founding, after which its assets will revert to the National District Municipality, unless the state decides to extend its tenure.
In addition to assets from the State and the National District Municipality, Fimerca-SD will receive an initial contribution of one million pesos from the State.
Regarding the trust, Abinader has appointed Nelson David Camilo Velázquez as its executive director, responsible for daily operations and executing government directives.
The trust will also feature a technical council led by the Minister of the Presidency as president, the Mayor of the National District Municipality as a member, and the Minister of Agriculture as a member.
The President has granted the Minister of the Presidency special powers to formalize all necessary actions for the establishment of Fimerca-SD, including negotiating, agreeing, and signing its founding document with Fiduciaria Reservas, S.A.
One of the first markets to be tackled is the Mercado Nuevo to the north of Av. Duarte in the National District. At present the area is marked by trucks laden with goods that congestion the nearby streets.
Read more in Spanish:
Diario Libre
Hoy
23 July 2024