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Outsiders come and take what Dominicans fail to appreciate

Santo Domingo.- Dominican Republic Industries Association (AIRD) president Ligia Bonetti yesterday said the country must create more wealth in a virtuous cycle in which jobs and productivity grow on pace with the economy and not against, as in her view, has occurred in recent years.

“Dominican Republic is a country full of opportunities with a diverse economy, with a privileged geographic location, economic, political and labor stability that many would envy, and valuable natural resources which allow us important farm production, minerals and beautiful areas for tourism and above all, an industry aware of these realities that sets its rooted in and committed to the country.”

The business leader noted however, that decades have already been wasted arguing over formulas for development, and have lost sight that the resources are there, “under our very noses.”

“We’ve been distracted by thinking about how to make the rich less richer, and what we’ve achieved is that the poor are poorer; what we’ve done with that distraction is that we have let outsiders come and take what we haven’t learned how to take advantage of.” she said.

Bonetti said competition among countries is becoming more fierce when attracting investment and increasing exports, “so what’s needed is a State that promotes collaboration between the public and private sectors, to generate wealth.”

During a business forum held in the Central Bank, the industrial mogul cautioned that starting January 1next year, all industrial goods from the U.S. will enter the country duty free, for which “a change of paradigm is essential.”


Bonetti cited a boost of exports to US$11.0 billion by 2017 as local industry’s main challenge, aimed at creating 300,000 jobs in the sector; a 35 percent growth of companies that export more than one million dollars from 209 to 500 in five years.

She lauded president Danilo Medina, “for having established a dialogue between the Government with industrialists of all lines more than 16 months ago.”

Source: DT

Category: DR News |

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Last updated March 25, 2017 at 5:40 PM
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