2005 – Page 227

The downward trend in foreign investment (DFI) that has been in place since 2001 appears to have taken an upward turn recently. Last year, DFI in the Dominican Republic increased by US$153 million, a 49% jump over 2003. In round numbers, DFI in 2003 was US$309 million and in 2004 the investment was US$463 million. …

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Blackouts are certainly changing the way people are living in Santo Domingo. At seven in the evening one can hear doors closing in the northern parts of Santo Domingo. University students are hesitant to schedule evening or night classes because of the electricity situation. The end of winter, the beginning of the warmer weather and …

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The “Big Dance,” a.k.a. “March Madness,” a.k.a. the NCAA Division I National Playoffs, will get underway this week, and several young Dominicans will be there. No merengue, salsa or bachata for these guys, however. A lot of man on man, zone or a box and one defenses, fast breaks or half-court plays on offense is …

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President Leonel Fernandez will open the First Congress on Santo Domingo 2015 tomorrow. The event will present new trends in urban models. It seeks to take a futuristic look at Santo Domingo is headed, from the perspective of architects who have contributed to the successes of other cities around the world. The event is to …

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Power distribution companies EdeSur and EdeNorte announced the start of a first 500-client pilot program whereby consumers would use prepaid cards for their power supply. Listin Diario reports that the system will operate in the style of the prepaid telephone calling cards. At the same time, the companies will install a pilot plan to monitor …

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The local press comments today on the statement made by Secretary of the Presidency Danilo Medina whereby he alerted that the findings in the audits made to the past administration “would shake the nation”. The audits have not been made public. Medina released the information saying that the government party, PLD, had no intention to …

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Secretary general of the government party, the Dominican Liberation Party (PLD), Reinaldo Pared Perez said yesterday that 20 to 22 judges have refused to authorized state prosecutors to search the offices of former officers of the past government. Pared Perez said that it is apparent that the judges respond to PRD party guidelines and thus …

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President Leonel Fernandez told reporters that drugs and weapons must be eliminated from the jails and that he was going to start a program to build new jails that would provide better facilities for prisoners. As reported in the El Caribe, the President ordered several of those involved in the Higuey tragedy to be transferred …

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The entire western part of the Dominican Republic celebrated the Supreme Court decision that upheld the constitutionality of Law 28-01 that exempts all taxes to companies setting up operation in the seven provinces that border Haiti. The initial case had been brought before the Supreme Court by the Dominican Association of Cement Producers that objected …

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In a parallel story in Hoy, the president of the Dominican Association of Textile Industries, Ivan Veloz Cabral told reporter Aleida Plasencia that the country needs more “Special Free Zones” (SFZ), especially industrial parks that would host the local textile industry that currently does not enjoy the tax benefits of the SFZs. According to Veloz …

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