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Dominican Republic

Iconic Dominican law firm’s campaign aims to drum up business

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Santo Domingo.- The renowned law firm Pellerano & Herrera on Wed. announced the launch of an international campaign that highlights the advantages of doing business in the Dominican Republic, a country with an attractive geographical location that provides easy access to the North, Central and South America markets.

The campaign – presented by senior firm partner, Ricardo Pellerano – affirms that the Dominican Republic has “an extraordinary record of successful businesses that have taken advantage of free trade agreements which have preferential access to 900 million consumers worldwide.”

It said that the Dominican Republic has been updating its laws to promote new businesses and that investors “feel the hospitality that characterizes us, in an open and commercially integrated environment to international markets, the statement said. “This is a five-star legal framework.”





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Dominican Republic

Hoteliers urge approval of US$90.0M IDB loan for Colonial Zone

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Santo Domingo.- The Dominican Republic Hotels and Tourism Association, ASONAHORES, on Thurs. asked the Chamber of Deputies to approve the US$90 million Inter-American Development Bank (IDB) loan for the second stage of the “Promotion of Tourism in the Colonial City of Santo Domingo.”

It labeled as successful the Tourism Ministry’s initiative, “with tangible results and transparent execution under the demanding supervision of the prestigious entity.”

“We understand the concern expressed by different sectors of Dominican society on the issue of external indebtedness and the use of these resources, however, the case of the Colonial City is the type of project that we must support because it is an operation carried out by a multilateral international agency, with proven return, and with the appropriate application to the established parameters, subject to due diligence,” says ASONAHORES in a statement.





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Dominican Republic

Chinese tourists to Dominican Republic jump 45%

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Santo Domingo.- In the first nine months the number of Chinese passengers who visited the Dominican Republic jumped 45% compared to the same period last year, in the wake of the relations established between the Dominican Government and the Asian giant.

The figure was revealed by China embassy press attaché, Xu Tiefei, during a visit to Diario Libre editor-in-chief, Adriano Miguel Tejada.

The Chinese official said that “relations between the Dominican Republic and China have been developing very well” due to political confidence. “It helps a lot to establish and strengthen relations.”

Xu said that during the first nine months Dominican exports to China have skyrocketed 167%. Products such as coffee, rum, and “made in RD” coconut water have already arrived in China.





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Dominican Republic

Imports of finished goods in first 9 months top US$15.2B

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Santo Domingo.- Imports of finished goods – especially vehicles, appliances and food – are growing at a faster rate than external purchases of raw materials to produce, according to data published by Dominican Republic’s Central Bank.

The total imported in the first nine months was US$15.2 billion, an increase of 2.1% over the same period of 2018.

The countries from which products were most received were the United States (US$4.4 billion), China (US$2.0 billion) and Mexico (US$539.2 million), according to the figures from Customs.

But overseas purchases of non-oil goods posted the sharpest increase, with 3%, and totaled about US$12.4 billion, 81% of the total. The remaining amount – some US$2.8 billion- were oil imports, which fell 1.9% compared to the figure between January and September last year.





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