Industrialists for competitiveness

[NewsWhore]

Industrialists from the Haina Industrial Association (AIEH) are urging the quick passage of the Industrial Innovation and Competitiveness Law. The Dominican Senate has passed the proposal but everything will have to start over with the new legislature on 16 August, since the Chamber of Deputies did not take action on the bill. Executives from AIEH met with reporters from Hoy newspaper to discuss the importance of the bill's passage. According to AIEH president Rafael Alvarez Crespo, the legislation was the product of a consensus effort headed by the National Competitiveness Council (CNC) and included input from both the public and private sectors. The industrial leaders told Hoy reporters that they felt that the government had not given sufficient priority to the issue, and they cited other proposals that were passed with surprising agility. One of the important points that the new bill offers is the postponement of VAT payments on raw materials and equipment used in production for export until the finished product leaves the country. The legislation is modeled on very similar laws already in existence in Central America.

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