In an interview with El Caribe newspaper, Danilo Rosario, director of both the Center for the Promotion of Exports (Cedopex) and the Office for the Promotion of Investments (OPI), announced the formation of the Center for Export and Investment. The new government office would be the product of a merger between the two promotion centers. Del Rosario said that after taking charge of Cedopex, the institution?s operating budget was increased from RD$14 million to RD$50 million, not including the RD$15 million it generates in revenues. With OPI?s independent budget of RD$52 million, the new institution will find RD$117 million per year at is command for the promotion of exports and investments in the DR. Del Rosario also said that current spending only accounts for 48% of the budget and that the new CEI would fully support 22 commercial attach?s in embassies abroad that would also work to increase exports and investment. The formal creation of the new office is pending the approval of legislation by Congress. As part of his initiatives, Del Rosario mentioned ongoing efforts to eliminate the 12% ITBIS, as well as the 1.5% surcharge on exports, considered major obstacle to exporters.
Del Rosario says that the DR ranked fourth in Latin America in attracting foreign investment and first in Central American region last year.