1996 – Page 111

The Executive Director of the Federacion Dominicana de Colonos Azucareros, told the press that “Next February, the country will have to import large quantities of refined sugar, because of the difficulties the state sugar council (CEA) has experienced in starting the present grinding season.” He added that CEA has tried to start the grinding season …

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The Asociacion Dominicana de Exportadores says that “the country will end the year with a trade deficit of RD$28,000 million, the largest in the last 20 years.” The Association of Exporters (ADOEXPO) said however, that “not everything is negative, since the Foreign Investment Law has been approved plus other laws that will benefit the economy …

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Mr. Edmund Duckwitz, the German ambassador, said that “my government has invested over RD$770 million in the Dominican Republic, in education, electricity, and many other projects.” He added that “The German government is going to invest over 84.3 million marks next year in this country.”

European development institutions say that “Electricity should be the main objective of any investment in the Dominican Republic. This is one of the conclusions expounded at the seminar held for European Financial Development Institutions, held at the Santo Domingo Hotel, under the auspices of the Federacion de Camaras Europeas de Comercio de la Republica Dominicana, …

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An increase in the production of stainless steel in 1996 will cause a significant rise in the price of nickel this year. This prognosis was published in the Wall Street Journal Americas. According to the report, “analysts in Wall Street predict that the price of nickel will be RD$140 more per tonne by mid-year.”

According to the Superintendencia de Seguros (the Dominican insurance watch dog), the insurance companies paid RD$930.5 million to policy holders in 1995. Mr. Carlos Hernandez Sierón, the Insurance Superintendent, said that “this list of claims paid by the insurance companies in the country, is published so that public opinion will know the total payments made …

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1995 will end with an income from tourism of US$1,300 million, and the prospects of a ten percent increase next year. The statement was made by Mr. Fernando Rainieri, former minister of tourism and published in the newspaper El Siglo.

According to Mr. Julian Antonio Parra, president of the Asociacion de Comerciantes Mayoristas de los Mercados, Christmas meant a significant increase in prices for basic staples. Mr. Parra told the newspaper El Siglo, that cooking oil will now be sold at RD$78 instead of RD$75 per US gallon. He added that “all other basic staples …

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The president of the Asociación de Empresas de Herrera, Mr. César Nicolás Penson, says that contrary to the statements made by the governor of the Central Bank, 1995 has been a very bad year from the economic point of view. He added that he had read the report of Mr. Hector Valdez Albizu, governor of …

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Mr. Horacio Alvarez, executive director of the Asociacion Dominicana de Exportadores, said that “the approval of the Ley General de Energia will be a very positive step for the economic future of the country.” He added that the Codigo Monetario y Financiero and the Ley de Estimulo a las Exportaciones must also be approved in …

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