SANTO DOMINGO. – Following the appointment of engineer and economist Magín J. Díaz as the new Minister of Finance , representatives of the construction sector reacted positively, highlighting his experience and knowledge to face the financial challenges of the Dominican Republic.
The Association of Builders of Santo Domingo East (Acosde) recognized his technical career and his ability to strengthen the investment climate and economic stability of the country.
“We welcome the appointment of Mr. Magín Díaz as the new Minister of Finance. His renowned technical expertise and experience in the design and implementation of fiscal policies inspire confidence in strengthening the investment climate and the country's economic stability,” they stated.
Furthermore, they announced that they trust the new minister will maintain an open dialogue with the productive sector .
“We trust that his leadership will contribute to maintaining an open dialogue with the productive sector and promoting more favorable conditions for the sustainable growth of the construction sector and the national economy as a whole,” they stated.
For his part, Sandy Rodríguez, president of the Association of Housing Developers and Builders of Cibao (Aprocovici) , highlighted Díaz's clear vision and practical nature, qualities that —in his opinion— are necessary in the current context.
He indicated that, from the association, Magín's participation has been counted on "in moments of advice", valuing his knowledge and experience, both at the technical and State level.
“We hope that Mr. Díaz can successfully carry out this or any other directives from the Executive Branch. We feel relieved to have someone of Magín Díaz’s caliber and knowledge,” he stated.
CEO of SBDS Investments , said he was pleased with the appointment. “I know him. We studied at the same time at university. He was studying industrial engineering and I was studying civil engineering. And I know about his background and, above all, what he thinks about national finances.”
During the conversation, the engineer spoke about the current situation in the country, stating that "a high rate due to pressure, and inflation due to the unbalanced finances of the State, are worse than a tax," thus warning about the consequences of maintaining a prolonged fiscal imbalance.
In an interview with El Inmobiliario , he called for a crackdown on tax evasion in the country. “He knows full well that it’s difficult, but he has to do it,” he stated.
Appointment following Jochy's resignation
The President of the Republic, Luis Abinader, appointed economist Magín Javier Díaz Domingo on July 15th, through decree 386-25 .
This appointment was announced as a replacement for José Manuel (Jochy) Vicente, who resigned from his position in a letter addressed to the president earlier this month.
After the decree was released, Magín thanked the president for his trust and reiterated his commitment to work with “responsibility and dedication” to strengthen the nation's economic stability .
