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President Medina heads VIII Plenary Meeting of the Competitiveness Council

President Medina heads VIII Plenary Meeting of the Competitiveness Council

 During the day, the report about the Dominican economy and the international context was presented, by the Governor of the Central Bank, Dr. Héctor Valdez Albizu.

 Also, the executive vicepresident of the Dominican Corporation of State Electric Companies (CDEEE), Ing, Rubén Jiménez Bichara, exposed a report about the evolution of the electricity sector and its perspectives.

 For the first time, opinion leaders and mass media directors were presents.

November 6, 2019, Santo Domingo. - The President of the Republic, Danilo Medina, headed the eighth meeting of the Plenary of the Council in which the work of the agenda of the Plenary of COMPETITIVENESS, which includes Decree 453-18, was continued, to promote the "National Year of Innovation and Competitiveness" and in compliance with the presidential goals along with the Competitive Dominican agenda.

During the ordinary session of the plenary session, the governor of the Central Bank, Dr. Héctor Valdez Albizu, presented the report about of the Dominican economy and the international context, in which he said that the Dominican economy is the only one in Latin America that maintains growth projected by the International Monetary Fund (IMF).

Albizu said that despite the turbulent international environment, the terms of trade of the Dominican Republic have improved due to oil prices and higher gold prices. In addition, he highlighted that the country's budget was prepared correctly: "Our growth and stability are not negotiable”.

Then, the executive vicepresident of the Dominican Corporation of State Electric Companies (CDEEE), Ing. Rubén Jiménez Bichara, approached the issue of the evolution of the electricity sector and its perspectives. In another order, the Chancellor of the Republic, Miguel Vargas Maldonado, made the announcement of a ship for trade with Caribbean islands that will benefit exports to and from the country.

Similarly, the committees for Productive Development and Exports, Health Registries, Fiscal Methodology and Innovation were followed up on it. From the Committee on Productive Development and Exports, were presented the advances that today exceed 50% of completed measures. This corresponds to more than 109 measures. Within the framework of the Fiscal Methodology committee, the consensus reached by the Dominican Government regarding benefits to the reactivation and activation of the Law of Proindustry of the Dominican Republic was presented to the Plenary Council. This task is in charge of the Ministry of Finance. As for the innovation committee and its strategy, the pillars that comprise it were presented: Educational Innovation and Talent Development, Business Innovation and Government Innovation. In the coming weeks the draft decree will be socialized between the public, private and academia sectors.

During the session were welcomed the new 13 members of the National Competitiveness Council and the Advisory Council, these designations were established through Decree 348-19, through Art.1 to the Minister of Public Works and Communications, Ramón Antonio Pepín and the Minister of Labor, Winston Santos, representing the public sector. In Art-2, eleven new members joined the Advisory Council, they are Celso Juan Marranzini, Lina García, Isaachart Burgos, Eduardo Lima, Juan José Attias, María Waleska Álvarez, Rogelio Viesca, José Luís Magadan, Lucille Houellemont, Claudia Pellerano and Sandy Filpo, representing the private sector.

Press conference

In the press conference, Rafael Paz, summarized the results of the Dominican Republic in the recently published Global Competitiveness Index (IGC) and Doing Business. Extending in the latter that, "a series of measures are being developed in favor of the Building Permits and Stock Market pillars." In addition, Paz said that in the indicator opening of companies “there was an improvement of 2.0 points in the score; we went from 83.4 to 85.4 percentage points. This was due to the promulgation of Law 68-19 that modifies Law 479-08, in order to eliminate the minimum capital requirement required for the formation of limited liability companies”.

Also, it was reported that the Municipal Competitiveness Index project will be announced with the objective of Contributing to local sustainable development, focusing municipal management towards attracting investments that generate employment and increase the productive and consumption capacity of the localities. , generating well-being in the municipality and developing its competitive advantages.

The necessary funds has already been authorized for the single window of construction permits so that the Ministry of Public Works and Communications (MOPC) can expedite the issuance time.


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