Renewable Energy

Dominican President Leonel Fernandez announced the construction of two eolic energy parks, of 50 megawatts each, with a total cost of US$ 132.2 million. Similarly, the Dominican government signed an agreement with a U.S. company to install the first solar power plant in the country with an investment of US$ 200 million. Both projects are part of a wave of new investments that are being made in renewable energy in the country as part of a government plan that seeks to reduce our dependence on fossil fuels, create conditions for the recovery of electrical distribution companies and encourage the generation of renewable energy. These projects were created under Law 57-07 of 2007 that establishes a series of incentives for their creation and operation.

Exports

The Center for Export and Investment of the Dominican Republic (CEI-RD) and the Korean Development Institute presented a report to the government for the development of the country’s exports. The report provides a macroeconomic analysis and a review of the local industrial structure for exports as well as annotations on the succesful Korean model. The primary objective of the report is to improve the conditions of the productive sectors and revitalize Dominican exports.

Public Works

The Ministry of Public Works this month began construction of the Boulevard Turístico del Atlántico, a road of 123 km that extends from Nagua to Samaná costing an estimated U.S.$160 million. This project consists of the rehabilitation of several trams of road in the peninsula. Nagua– Sánchez– Cruce del Limón–El Limón–Cruce de Abra Grande–Las Terrenas– Balatá and El Catey. The project complements the accessibility to the Samaná Peninsula that has been achieved with the implementation of an International Airport and the opening of the Santo Domingo-Samaná highway, to stimulate the development of the province.

Dominican Economy

The National Council of Free Zones announced that despite the international crisis, exports in the Free Zones sector grew during 2008 by 2%. Also, during that year permits for installation of 102 new companies in the sector were approved, with an overall investment of RD$5,000 million.

Legislation

The president promulgated Law 491-08 amending some articles of Law No. 3726 of 1953 with the purpose of preventing delays in the resolution of legal processes that require the attention of the Supreme Court. This new law imposes deadlines for the filing of briefs by the attorneys associated with cases and modifies procedural matters related thereto.