NewsWhore
03-12-2012, 02:00 PM
Directors of the American Chamber of Commerce of the Dominican Republic (AmChamDR) called for the government to lower costs of doing business in the Dominican Republic, which they consider too high.
In an interview with Hoy, Julio V. Brache, president of the AmChamDR, and board members Max Vidal, Mary Fernandez, Joseph Nelton, and executive vice president William Malamud regretted that the country maintains a bad standing on issues such as property registration and business closures in the World Bank Doing Business 2012 report. The DR is ranked 108th of 183 economies in the World Bank ranking. The country performs especially badly on issues of starting a business (140), dealing with construction permits (105), getting electricity (123), registering property (105), and resolving insolvency (154), paying taxes (94).
www.doingbusiness.org/rankings (http://www.doingbusiness.org/rankings)
They pointed to unresolved property registry issues that make inapplicable the newly passed Law 189-11 for the Development of the Mortgage Market and Trust Funds. They said the Real Estate Jurisdiction Department needs to be more efficient and transparent in the registration of properties. They reported that the Chamber is working with the Property Jurisdiction in order to streamline the registration process and transfer of properties.
They also called for the passing of the bankruptcy and company restructuring law that has stagnated in Congress.
William Malamud said that the lack of the law is a barrier to private investment, because there are more risks and no clear exit or time to restructure if things go wrong.
They pointed out that, for example, that the recently passed Law 189-11 Development of the Mortgage Market and the Trust does not fulfill its purpose, without first solving the problems that exist in the country for property records.
More... (http://www.dr1.com/index.html#10)
In an interview with Hoy, Julio V. Brache, president of the AmChamDR, and board members Max Vidal, Mary Fernandez, Joseph Nelton, and executive vice president William Malamud regretted that the country maintains a bad standing on issues such as property registration and business closures in the World Bank Doing Business 2012 report. The DR is ranked 108th of 183 economies in the World Bank ranking. The country performs especially badly on issues of starting a business (140), dealing with construction permits (105), getting electricity (123), registering property (105), and resolving insolvency (154), paying taxes (94).
www.doingbusiness.org/rankings (http://www.doingbusiness.org/rankings)
They pointed to unresolved property registry issues that make inapplicable the newly passed Law 189-11 for the Development of the Mortgage Market and Trust Funds. They said the Real Estate Jurisdiction Department needs to be more efficient and transparent in the registration of properties. They reported that the Chamber is working with the Property Jurisdiction in order to streamline the registration process and transfer of properties.
They also called for the passing of the bankruptcy and company restructuring law that has stagnated in Congress.
William Malamud said that the lack of the law is a barrier to private investment, because there are more risks and no clear exit or time to restructure if things go wrong.
They pointed out that, for example, that the recently passed Law 189-11 Development of the Mortgage Market and the Trust does not fulfill its purpose, without first solving the problems that exist in the country for property records.
More... (http://www.dr1.com/index.html#10)