Rafael Paz, executive director of the National Competitiveness Council, announced two measures to be promoted by the government to improve national competitive ranking. The announcement came after the first meeting of the National Competitiveness Council’s advisory board recently appointed by the Medina administration.
The measures that are being given priority include eliminating the minimum capital deposit requirement needed to form a company in the Dominican Republic. Paz said that the minimum capital requirement is at present the highest in the region and a deterrent to the formalizing of business.
Likewise, approved is that the payment of tourist card fees be collected by the airlines, with the fee appearing as part of the cost of the airfare. The airlines then will pay the US$10 fee to the government. This was approved in Decree 430-17 issued on 4 December 2017. The measure begins 1 January 2018.
The announcements was made following the first session of the National Competitiveness Council, after President Danilo Medina created the National Committee for the Facilitating of Trade (CNFC). The CNFC is entrusted with approving and supervising the new strategic plan of the CNC.
Paz said the members and business advisors of the National Competitiveness Council will meet monthly.
The World Economic Forum ranked the Dominican Republic 104th of 137 countries in the 2017-2018 Global Competitiveness Report. The government has expanded the number of big business executives on the advisory board of the CNC seeking to improve the country’s competitiveness ranking that from the previous report had slid 12 levels.
Read more in Spanish:
Diario Libre
Decree 430-17
El Dinero
Listin Diario
7 December 2017
