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Dominican business leadership is of two minds regarding impact of an open Cuba

SANTO DOMINGO. There is 36.8% of the country’s business elite that fears that the commercial opening of Cuba will have a negative impact for the Dominican economy, while there is 29.5% that have the opinion that it will be probably beneficial. In contrast, there is 26.3% who believe that the impact will be neutral and the remaining 7.4% say they don’t have any basis for an opinion.

These perceptions by the business community are expressed in the Sixth Edition of the Business Barometer, published by the Deloitte RD consulting firm.

For this survey, the firm interviewed by Internet 96 top executives of companies that operate in the Dominican Republic, with yearly billings of more than US$10 million, according to the latest tax period.

These companies belong to manufacturing, financial service, mass consumption, real estate, energy and natural resources, laboratories and health companies, logistics, ports and shipping, technology, media and telecommunications and other sectors.

According to the survey, 71.9% of the business elite supports the administration of President Danilo Medina and 66.7% consider the business climate in the Dominican Republic to be very positive. Regarding the goals which the government should pursue, 46.3% are of the opinion that they should be aimed at solving the electricity problem; 20% believe that they should try to stop tax evasion and reduce the level of informality; 14.8% feel that they should try to eliminate taxes that are distorting commerce; 10.5% believe that there is a need to reduce the public debt and 8.4% indicate the need to reform the Labor Code.

Deloitte was asked regarding other issues, such as the lack of compliance with laws such as the Defense of the Competitiveness, or the salaries in the public sector and the sworn statements of assets. Their reading is that “these are not worries” at this time, concluded the firm.

Source: DiarioLibre

July 16, 2015

Category: DR News |

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