do business in the Dominican Republic - Pellerano & Herrera

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DOING BUSINESS INTHE DOMINICAN REPUBLIC2. The generation and distribution of energy: the generation units of the CDE(Itabo and Haina) were transferred to Seaboard Corporation and NewCaribbean Consortium, while the distribution companies were transferred toUnion Fenosa (North and West distribution units) and AES (South distributionunit). Afterwards, in a transaction that has been on the spotlight for a longtime, the State re-purchased from Union Fenosa the units that this companyhad acquired.3. The leasing of the ten sugar mills belonging to Consejo Estatal del Azúcar.As it may be appreciated, the adoption of this law was an important step for theliberalization and modernization of the national economy, because the capitalizationprocess, although subject to controversy and technical obstacles, hashelped to alleviate the charge that public companies are for the Government,andhas resulted in the country receiving large amounts of foreign investment thatsurpassed in the year 1999, when the main capitalization processes took place,the record amount of 1.3 billion dollars.It should be pointed out that this process has not been limited to Law 141-97,and that also outside the scope of this legislation the Government has been transferringthe administration of its agencies to private hands.An example of this isthe contract for the modernization, expansion and administration of the publicairports (AILA, Gregorio Luperon, Maria Montez and Arroyo Barril) that wasawarded to Consorcio Aeropuertos Dominicanos Siglo XXI (AERODOM).PROMOTION OF NATIONAL COMPETITIVENESSThe Government is executing an ambitious program to promote the competitivenessof Dominican economic sectors, particularly in the agricultural fields, asan essential step within the process of globalization of the economy. In this context,it has taken the following measures:1. Creation of a National Bank of Competitiveness, with the aim to providefinancing for the development of strategic economic sectors;2. Adoption of Law 1-02 on Antidumping Practices, which seeks to protect localproducers against foreign imports for a lesser value than the sale price in thecountry of origin;3. Several measures intended to increase the competitiveness of Dominicanexports and free zone companies.12REGIONAL INTEGRATIONAs we will see in more detail in the Chapter on International Trade, theDominican Republic has been making significant efforts to widen its trade relationswith, and join the different economic groups of the region, havingbecome one of the most dynamic and innovative countries within the processof regional integration in the area. These efforts have already produced concreteresults, mainly noticeable in the signature of free trade agreements withCentral America and the Caribbean. In addition, the Dominican Republic signed
Pellerano & HerreraAttorneys at lawa partial Free Trade Agreement with Panama, a Free Trade Agreement withVenezuela and the DR-CAFTA, signed with the United States and other nationsof the region.Finally, it should be noted that the Dominican Republic is a member of the WorldTrade Organization (WTO), whose function lies in facilitating the application,administration and functioning of multilateral trade agreements and to favor theachievements of its objectives, being also the framework for the application,administration and functioning of multilateral trade agreements.13
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