Dolores Vicioso – Page 7275

The state-owned Corporacion de Fomento Industrial, in charge of the free zone industrial parks, plans to sell the free zones to generate funds to develop small and medium-sized industries. Jose Ovalle, director of the CFI, estimates the government parks are worth RD$8,000 million. He said the new parks the CFI wants to build would go …

Read more…

President Mejia, on his second day of a Central American tour, visited Tegucigalpa and the Escuela Agricola Panamericana El Zamorano, the leading agriculture school in the region. Two of the President’s sons graduated there. In Tegucigalpa, President Mejia and President Carlos Flores of Honduras signed a DR-Honduras relations memorandum of understanding and exchanged decorations.

Interviewed by Dominican journalists in Honduras, President Mejia urged people to give his government time. He said the protests in Capotillo and Navarrete were not justified. He said most of the protests are because of anger over public works that people have been waiting for for 20 or 30 years and now they want his …

Read more…

AES Dominicana promises to invest US$100 million in a technological upgrade to its diesel powered plants in Los Minas. The operation of these plants is probably the most costly in the DR. The idea is to convert them to run on natural gas piped in from the company base now under construction in Andres, Boca …

Read more…

The National Council of Private Business (CONEP), the country’s leading business organization, warned that the increase in foreign borrowing by government departments will have a negative effect on government finances. Conep criticized that the borrowing is going on without a central policy or defined purposes. The press and opposition parties have also criticized the borrowing …

Read more…

The president of the Grupo Leon Jimenes, manufacturers of Presidente Beer, Aurora Cigars and Marlboro cigarettes, congratulated President Mejia for his statement that he would not impose new taxes for the remainder of his presidency. Jose Leon Asencio nevertheless warned that the government will have to adjust its own spending to create confidence among taxpayers. …

Read more…

An American Chamber of Commerce delegation from the Dominican Republic was in Washington this week to lobby Senator Hillary Clinton to pass the Hispaniola Fund and for a US$10 million fund to train Dominican English-language professors. Andres Aybar Baez, president of AmCham in the DR, headed up the delegation. Also traveling were Jesus Moreno, Frank …

Read more…

El Caribe newspaper says Aerodom, the largest airport operator in the DR, has promised to finish the La Isabela International Airport in exchange for the rights to build El Catey Airport to serve Samana and Rio San Juan-Playa Grande. Aerodom promises to have La Isabela Airport operational in 10 months time. The opening of that …

Read more…