Petrol companies are now associated in the new Sociedad de Empresas de Combustibles y Derivados (SEC). The founding companies of the business association are GB Energy (Texaco), Sol Petroleum (Esso), Sunix, Isla and V Energy (Shell). They committed to work together to provide high quality services to consumers. The first president is Mauricio Salazar who says that the companies invest around RD$2.3 billion combined.
A recent Deloitte Consulting study presented by the National Organization of Shopping Centers (ONEC) shows that the commercial sector has the largest share of the services subsectors in the Dominican economy. Over the past eight years, the sector has had an 18% annual average growth. In 2015, trade represented 9.5% of the GDP. Total sales were RD$2.9 billion in 2014, of which 4.4% (RD$129.66 billion) was sold by ONEC members, says the study.
The study also found that trade represents 30% of loans to business, up 5% compared to 2013. The subsector employs on average 15% of the total labor force, with 291,369 employees with an average hourly wage of RD$80.91 or around RD$3,500 a week.
The implementation of Decree 262-15 that creates logistics centers and their customs regime will bring a genuine revolution in international trade and a significant drop in costs for industries, said the president of the newly created Dominican Association of Logistic Centers and Operators (Asologi).
Asologi president Salvador Figueroa Sanchez and directors Teddy Heinsen, Gustavo Tavares and Hector Tamburini say that if the legislation is correctly implemented, the DR will become a world-class logistics center.
The Caucedo Logistics Centre is a joint venture between DP World and Caucedo Development Corporation. It provides regional distribution facilities for foreign and Dominican businesses connecting them to a comprehensive, efficient, logistics multimodal network provided by the Port of Caucedo that is operated by DP World.
Phase 1 will see the development of warehousing over 4.3 million sq/ft (40 hectares) and a further 8.61 million sq/ft (80 hectares) developed in Phase 2. The timing is in line with market demand.
“We have been committed to the development of the Logistics Center since its inception and are witnessing the beginnings of an exciting opportunity to develop the Dominican Republic as a trade and logistics hub.”
The Center provides Dominican Republic importers and exporters with the opportunity to improve the efficiency of their supply chains with modern facilities close to both the port and the airport. Shipping lines will also benefit as more volumes are generated through the CLC.
From the 20 October 2015, descendants of Dominicans born overseas can become Dominican nationals without coming to the country.
The measure, as agreed by the Central Electoral Board (JCE) establishes that wherever Dominicans live they can also obtain birth, marriage, divorce and death certificates as well as a National Identity Card (Cédula). The announcement states that that Dominicans who live overseas have the same rights as those who live in the country.
Dominican documents will be issued by JCE offices or consulates.