At the 8th National Housing Roundtable, it was affirmed that the approval of the Rental Law would be promoted to incentivize investment
By Yamalie Rosario
El Inmobiliario
SANTO DOMINGO. Because he considers it a matter of national interest and security, President Luis Abinader yesterday proposed to the construction sector a plan to gradually reduce the use of foreign labor, guaranteeing government support through financing to mechanize the processes.
After stating that "foreign labor's days are numbered," the Head of State specified that the same initiative should be promoted in other sectors such as agriculture.
The president delivered a speech during the inaugural event of the 8th National Housing Roundtable entitled: “Vision 2030: Urban Development, Sustainability and Access to Housing for All,” which was successfully organized by the Association of Housing Builders and Promoters (Acoprovi) at a hotel in this city.
In guaranteeing his commitment to supporting the construction sector with financing to promote mechanization, he reported that his government is providing economic funds through the Development and Export Bank (Bandex) with these objectives.
“I can tell you that the days of foreign labor are numbered. Given the situations arising from international oversight, which is often very positive, and pressure from various sectors, we must plan to use foreign labor less and less. It is a fact, a historical juncture, a reality, that we all have to work to sustain this sector, but also for the good, the interest, and the national security,” he asserted.
He thus invited them to consensus: “Therefore, I ask Acoprovi, the Chamber of Construction, and all important sectors of the construction industry, to work together.”.
According to Luis Abinader, there are still "artisanal" practices in the construction sector, which is why he believes the processes should be mechanized, as he claims has happened successfully in other countries.
He favored initiating “a national consensus plan” to develop graduated processes that would be implemented over three to four years to reduce foreign labor in the country.
He reported that the Executive Branch will form a commission to discuss with representatives of the construction sector the plan to reduce foreign labor.
He will guarantee the Rent Law with his congressmen
On the other hand, President Luis Abinader plans to discuss the approval of the Rental Law bill with his congressmen, as the reform to this legislation will guarantee investment.
After admitting that a legal framework that is a “win-win” for everyone needs to be established, he stated that they are working to secure its favorable passage in this legislative session.
The construction sector accounts for 15% of GDP
President Luis Abinader stated that construction is fundamental to the national economy because that sector generates 15 percent of the Gross Domestic Product (GDP).
Of that percentage, 75 percent of the investment corresponds to the private sector and the rest, 25 percent, to the public sector.
For that reason, he considered it essential for the government's public policies to incentivize that segment because it helps the national economy.
