Dominican industrialist says investments are in limbo

http://www.dominicantoday.com 21/02/07

Santo Domingo.-Entrepreneur Jose Clase stated this Tuesday that facing problems overlooking exporting industries in the duty free zones and other national productive sectors, is of utmost urgency.

The Santiago-native businessperson described the situation in duty free zones, especially those located throughout the northern region of the country, is unsustainable, and that therefore it is necessary that the Dominican State adopt the necessary measures without delay, in order to put a stop to the multiple closing of firms that has been affecting the sector during the past months.

Clase underscored that clauses introduced to the DR-CAFTA trade accord documents favor our access to the United States market; however the country has not been able to access free trade due to delays in its implementation.

He also spoke of the situation of higher costs that their currency-generating sector endures. Clase said that over -valuating the Dominican peso has favored the world’s businesses, except those operating in the Dominican Republic.

“The currency exchange situation subsidizes imports and penalizes Dominican exports,” affirmed Clase.