1996 – Page 26

Mario Dávalos, executive director of FONDOMICRO, favors an efficient judicial system because he understands that this would improve foreign and domestic investment. He said that the foreign investment bill needs the support of the judicial system.

The executive director of the Asociación Nacional de Hoteles y Restaurantes (ASONAHORES), Pedro Garrido, says that the Dominican Republic could double its tourist income in the short term if Leonel Fernandez’s government improves the quality of public services, especially electricity, water and refuse collection. He said that the state should support the investments made by …

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The telecommunication company Telepuerto San Isidro, commonly known as TRICOM, will invest US$300 million installing telephone lines during the next five years. Máximo Pellerano, president of TRICOM, made the announcement after a meeting with President Leonel Fernandez, in which he also offered TRICOM’s cooperation on President Fernandez’s government school computer project, specifically referring to the …

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The Interamerican Bank of Development (IDB) representative in the Dominican Republic, Leonardo Da Silva, said that his institution hopes to disburse by the end of the year US$103 million, of which US$59 million have already been paid. Mr. Da Silva also said that the IDB will continue its support for the country’s electricity industry and …

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With the resources that the government has injected to the economy via the FIDE and INFRATUR development funds and the Banco Agrícola, it is expected that 26,000 new jobs will be created. The announcement was made by the government’s press office, which also said that this is a result of analyzing the economic measures taken …

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The third Government Council meeting declared the Corporación Dominicana de Electricidad (CDE) in a “state of emergency” and increased its government subsidy, with an additional RD$100 million. The purpose of so declaring the CDE is to solve once and for all the electricity shortage in the country. Other important measures taken by the Government Council …

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José Tomás Pérez, director of the Corporación de Fomento Industrial (CFI), said that investors who left Dominican Republic to go to Mexico, have returned and reinvested in this country. According to Mr. Pérez, the investors decided that the D.R. had a better qualified labor force than Mexico. He remembered that they had left the country …

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The director of the Dirección General de Impuesto Sobre la Renta (ISR), Guaroa Germán, said that ISR intends to abolish 50 taxes because they are too expensive to collect. Mr. Germán also announced a plan to collect taxes from people who do not pay, without mistreating or pressuring them. He said that ISR will fight …

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The Senate approved a resolution which rejects the charging of US$10 to citizens who leave the country and asks President Leonel Fernandez to revoke the decree made by the former president, Joaquín Balaguer. The decree number 295-94 of 29 September, 1994, is said to infringe the Dominican Republic Constitution and violates the rights of its …

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The Asociación de Distribuidores de Materiales Eléctricos (ASUME) proposes a 5 to 10% percent tax on imports made by the electricity industry. ASUME considers that these tax levels will allow a better competition.