Business asks for measures

[NewsWhore]

Five institutions that bring together industry, tourism, farm production, free zones and exporters set before the government the need to adopt measures that promote stability and development in the country. In a communique sent to the media, the Association of Industries of the Dominican Republic, National Association of Hotels and Restaurants, Dominican Association of Free Zones, Dominican Association of Exporters and Agribusiness Board said that they are hopeful that the Unity Summit convened by President Fernandez would produce measures to strengthen the local industry, promote the export of goods and services, create new jobs and bring in new investments. Among these measures that deserve to be undertaken quickly by the government, the business groups point to an efficient electricity system, recommending that the government "work out an integrated plan based on the proposal of the National Council of Business (CONEP) that calls for a change in the vision for handling the sector and the fulfillment of the General Electricity Law." The associations also call for access to competitive financing as well as for a reform in the banking prudential norms and an accelerating of the process for the granting of clear title to property that may guarantee easy access to financing; the creating of the Export Bank an export insurance; equality with competing countries and adaptation to the DR-CAFTA. Regarding the adaptation for DR-CAFTA, the groups point out that this implies the elimination of the income tax on the share of earnings generated by exports of goods and services as well as the tax on assets and all the taxes, tariffs and charges on exports. They also call for changes in the legal framework of the free zones to fulfill the requirements of DR-CAFTA and the new international production schemes. Included in their seven point request is that duties levied on the tourism sector be the same as those of other regional competitors. Also, that the labor legislation be brought up to date so it may serve to preserve and create jobs. On the macroeconomic front, they propose interest rates and exchange rates that are competitive. They also are urging that businesses be free to contract the transporters of cargo and passengers. And they recommend that the governmental foreign trade structure be reorganized and consolidated, with the unifying of the international promotion strategies and adequate budgets to support the export sector.

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