The Fundación del Español Urgente (Fundéu), sponsored by the EFE, the Spanish news agency, is considering the possibility of opening an office (the first one outside of Spain) in the Dominican Republic, in collaboration with Guzmán Ariza Foundation Pro Dominican Academy of Letters.
Fundéu makes daily recommendations to the press and the general public on language issues.
[April 2016]
Guzmán Ariza Attorneys at Law presented in Puerto Plata the book Repertorio de la jurisprudencia civil, comercial e inmobiliaria de la República Dominicana (2001-2014), written by managing partner Fabio J. Guzmán Ariza.
The presentation was held at the event hall of the Puerto Plata Chamber of Commerce with the presence of prominent lawyers and judges. Vilma Díaz Colombo, judge at the Land Court in Puerto Plata, and Carlos Balbuena, a local attorney, spoke at the event.
The compilation of the civil, commercial and real estate case law in the Dominican Republic (2001-2014), condenses and organizes the rulings made by the Supreme Court and the Constitutional Court of the Dominican Republic.
[April 2016]
According to news reports, foreign investors approved a proposal for the Las Terrenas Development Plan at a meeting with Las Terrenas municipal authorities. As reported by Noticias SIN, Mariana Vanderhorst, temporary Las Terrenas mayor and the project promoter, sent a written request to private companies on 18 February 2016 with a plan to build a golf course in Las Terrenas as part of a major real estate development and the reorganization of the city government and educational community and public infrastructure to adjust it to the tourism area. The plan needs to be approved by the private investors and would then pass through the other institutions, including the city council, and the ministries of Tourism and Environment.
Samana’s development has been adversely affected by the recent cancellation of the JetBlue flight from New York to Samana airport and the high cost of the toll roads linking Santo Domingo to Samaná and Las Terrenas.
[April 2016]
The Dominican Republic Chamber of Commerce in Spain is now up and running. The new chamber, an initiative by the Dominican Embassy in Madrid will strive to unite public and private ventures aimed at strengthening trade between Spain and the Dominican Republic. Ambassador Anibal de Castro says the new chamber will play an active role in promoting trade at the highest levels.
“The Chamber will serve as a communication tool between yourselves and the businesspeople who seek to do business in the country as well as communication bridge with government authorities,” stated De Castro.
The Cremades & Calvo-Sotelo law firm, which helped with the formation of the new chamber, will remain on the board as general secretary.
Founding partner Javier Cremades described the new chamber as a historic event in the trade relations between Spain and the DR. He said it would contribute to the business climate for future generations.
The founding member companies include Grupo Varma, Davidoff, Grupo Global Exchange, Blinter Cargo, Ciclauto Automocion, Corporacion Alimentaria Vima, Consorcio Procaribe, Grupo Martinon-Grumasa, Softland, Incatema Consulting, Ingeotrans, Viavansi, Serviguide, and Favero & Kolskinsche.
[April 2016]
Guzmán Ariza recently participated in MIPIM -the international real estate event in Cannes, France- as exhibitors in the Dominican Republic stand.
Guzmán Ariza shared stand with Green Planet Architects; the State Bank of the Dominican Republic, BanReservas; and real estate development projects such as Ocoa Bay, 19 ° ES and Cap Martin Caribe.
MIPIM brings together the most influential investors and companies from 90 countries in the real estate market: office, residential, retail, healthcare, sport, logistics and industrial, offering access to a significant number of development projects and sources of capital worldwide.
This 27th edition of MIPIM received 23,500 attendees of the international real estate industry.
[April 2016]
President Danilo Medina inaugurated the country’s biggest solar power plant described as the largest renewable energy project in the Dominican Republic. The plant was built at a cost of US$110 million and will eventually generate 67 megawatts, with 30 in this first phase. It will also provide more than 300 direct and 1,000 indirect jobs.
In this first stage alone, the project triples the number of existing solar panels in the country, and once completed, it will increase the current photovoltaic power in the country fivefold.
This General Energy Solutions project in Monte Plata is the largest Taiwanese investment made in the country.
The company says that 270,000 panels are being installed, making it not only the largest solar project to date in the DR but also in the Caribbean region. Once completed it will produce 51,000,000 kWh per year, which represents a reduction in pollution of 70,000 tons of CO2 annually, improving the sustainability of the country’s electricity grid and the economy as a whole.
[March 2016]
President Danilo Medina issued the decree number 119-16 approving amendments to the ruling for the implementation of the Law on Securities Market No. 19-00.
The decree expands the range of instruments and publicly offered securities that can be traded in the Dominican Stock Market. The objective is to promote and channel increased savings in the medium and long term. The amendments are chiefly aimed at adapting the regulatory framework to the offerings under the trust (Ley de Fideicomiso) modality.
[March 2016]
Cocoa and chocolate experts from all around the world will be gathering in Punta Cana for the World Cocoa Conference from 22-25 May 2016. The leading event for the cocoa and chocolate sector brings together the major players from the value chain. The Dominican Republic is a world leader in cocoa production, now gradually beginning to produce chocolate, too.
More than 1,500 cocoa farmers, chocolate makers, government and private sector farming and sustainability experts are expected to attend the event from over 40 countries. This is the first time the event will have been held in Latin America.
The event is being organized by the International Cocoa Organization and the Ministry of Agriculture and National Cocoa Commission are hosting the event for the Dominican Republic. The agenda includes discussions for the Cacao Global Agenda.
Information on adding value to cocoa, including differentiation, specialty products and branding will be discussed. The issues of improving cocoa farmers and improving farmer incomes, and finance and insurance solutions to manage risk across the value chain are also on the program.
[February 2016]
The Tax Agency (DGII) reports that 57% of their revenue comes from consumer taxes and 43% from income taxes in 2015. DGII contributed 73% of taxes to the government, with Customs providing 22% and Treasury 5%. Consumer tax revenue was up 3% compared to 2014, as reported in Diario Libre.
[February 2016]
In January 2016 there were 36,995 more arrivals than in January 2015, according to the Central Bank. A total of 519,977 non-resident visitors arrived, with 89.5% foreigners and 10.5% non-resident Dominicans. This is a 7.7% increase over non-resident arrivals for the same month in 2015.
Foreigners increased 6.7%, with 465,229 arrivals. The Dominican Republic is the most visited Caribbean island. 58% of tourists to the Dominican Republic come from North America (US, Canada and Mexico), mainly from the United States. Tourists from Europe make up 25.1% of non-resident arrivals and South America 14.1%.
[February 2016]