DMS-Banking Investment Associates
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DMS-Banking Investment Associates
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Statements Healthy
Investment Climate The Dominican Republic was the only country in 2001 of Latin America and the Caribbean that add an improvement of 3 steps in the qualification of risk of investment granted by the companies of qualification of risks. Moody´s improved the qualification in 2 steps (of B1 to Ba2) and Standard's and Poor´s in a step (of B+ to BB -). These improvements reflected the recognition and endorsement of the companies of qualification of risk to the reforms and efforts that our country has made to guarantee a sustainable growth. Political
Stability: In February 27, 1844, thanks to the Founding Fathers Juan Pablo Duarte, Francisco del Rosario Sánchez and Ramón Matías Mella, the Dominican Republic won its independence and become a free and sovereign state. Since then we have fought defending our rights. The Dominican Constitution provides a secure and stable political climate, and dividing independently the national powers in executive, legislative and judicial. The Executive Power, which dominates the political system, is vested in the President, who appoints the cabinet, pronounces decrees, enacts laws passed by the legislative branch, and is the commander-in-chief of the armed forces. Direct majority to four-year term elects
the President and Vice-president together in the same ticket; the election of
legislators is separated from the Presidential election. They are elected to a
four years period. The
Partido Revolucionario Dominicano (PRD), the Partido Reformista Social Cristiano
(PRSC) and the Partido de la Liberación Dominicana (PLD) are the main political
parties. The Legislative power includes a bicameral Congress, the Senate and the House of Representatives (one senator for each province and the national capital district, and a representative for every 50,000 inhabitants or a fraction greater than 25,000). The Judicial branch is in a process of reform to modernize its courts and raise the standards of integrity and real justice in the system. The National Judicial Council elects the judges of the Supreme Court. And the Supreme Court selects the other judges of the court system. Providing to the judicial system an air of transparency and confidence. Fastest Growing Economy: The Dominican Republic is among the countries with the highest economic growth in all Latin America. In 1999 the Dominican Republic reached the highest GDP growth in the world with 7.8% compared to the world's 4.0% and Latin America's 4.2%. In the passed 6 years the Dominican Republic's real GDP has grown at an average annual rate of 7.7%, all despite several world crisis, such as the increase in oil prices in 1996, the Asian Crisis in 1997, the Russian Crisis and Hurricane George in 1998, the devaluation of the Brazilian real in 1999, the increase in oil prices, the slowdown of economic growth in the U.S, the Euro depreciation in 2000, the terrorist attack to U.S in 2001. Our economy remains stable and exhibited the greatest real GDP growth of Latin America. In September 2001, the Dominican Republic was the first emergent country that made its debut on the international capital market, after the attack to the World Trade Center, by issuing sovereign bonds worth half a billion dollars at an interest rate of 9.5% over a five-year term. The bonds will greatly contribute to the country's economic development by keeping inflation under control, stabilizing the foreign exchange rate and lowering interest rates. The bonds will infuse new energy into the country's economy by offering a more favorable climate for national and international investment. According to IMF the Dominican economy will be the one with the greater growth for 2002 in Latin America, getting to reach a growth of 5.6%, the greatest in Latin America. The government has introduced favorable regulations, such as the General Electricity Law, Fuel Tax Law, the market values law and has applied numerous state, judicial and economic reforms and privatizations, remarkably improving the economic conditions in our country. Sustained economic growth. Increased of capital and labor resources. Price stability. Social development, improving the quality of life and alleviation of poverty. Promotion of market competition. Investment in education, health, housing and social security Increased of the foreign direct investment. Multilateral
Trade Agreements: Broad
Investment Possibilities: Strategic
Location: Tax
Incentives: 100% exemption on import duties -machinery, equipment, spare parts, construction materials, and any input required in the production process, 100% exemption on income tax, Exemption periods ranging from 15 to 20 years, Freedom to repatriate -tax free- profits. Leadership in Communication Technology World
class telecommunications systems -voice, data, video- provided by 4 important
corporations. Quality
of Life:
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E-mail to: [email protected]
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