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Revision of contracts sends a weak signal to potential investments

Santo Domingo.- The president of the Roundtable of Commonwealth Countries in the Dominican Republic, Fernando Gonzalez Nicolas affirmed Friday that the proposal to revise the contracts recently negotiated and agreed with prominent companies, sends a weak signal to potential investments in Dominican Republic.

“To revise newly formalized contracts could indicate lack of institutionalism, formalism and continuity of state. These three elements are essential for the aforementioned to attract foreign investment,” the business leader said.

Gonzalez s suggested adequate training and selection for the people who negotiate and approve contracts on behalf of the Dominican.  “The better they’re trained the better they’ll protect the national interests.”

“It’s not fair to point out only the foreign firm when there’re disparities with newly agreed and signed contracts,” he said, and noted that education is a key factor in the development of people and Dominicans would do well by prioritizing it.

Gonzalez said foreign investment plays a key role in the people’s economic development and welfare. “According to international recognized capital worldwide, it’s also appropriate to protect and attract them.”

The Roundtable president added that president Medina’s new administration is perceived as prudent and positive and values foreign investment, while at the same time defending Dominicans’ interests.

The Roundtable is an initiative that promotes economic and social relations between the Dominican Republic and its 54 member-nations worldwide and currently account for the country’s largest foreign investment.

Source: Dominican Today

Category: DR News |

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Last updated October 20, 2016 at 7:03 PM
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