Investment would exceed US$3.4 billion, construction credit rose to RD$70.29 billion in 2021, regional growth will be among the lowest in the world according to the World Bank, AILA central atrium inaugurated with RD$1 billion investment, advice given to avoid "abrupt" interest rate hikes to prevent impacting clients, Pro Pedernales Trust will create jobs and improve competitiveness, CES opens public consultation on Punta Catalina trust, CAASD will fill potholes in the capital's streets, discussions with clinics regarding the elimination of "advance" payments for hospitalizations, Government expects to put eight corridors into operation this year, AstraZeneca affirms Government requested delivery of Covid vaccines in 2022

Investment would exceed US$3.4 billion

Foreign direct investment (FDI) could exceed US$3.4 billion this year, more than US$300 million higher than the amount recorded in 2021, according to Central Bank Governor Héctor Valdez Albizu. He highlighted the strong fundamentals of the Dominican economy during a meeting yesterday with the new board of directors of the Association of Foreign Investment Companies (Asiex), headed by its new president, Alejandro Peña Prieto. In his conversation with the directors, Governor Valdez Albizu indicated that FDI reached US$3.1 billion in 2021 and is expected to surpass US$3.4 billion by the end of this year, an amount he said would fully cover the current account deficit estimated for that period.

Credit to construction rose to RD$70,290 million in 2021,

Bank lending to the construction sector reached RD$70.29 billion in December 2021, representing a 20% increase compared to the portfolio at the end of 2020. This data was provided by the Dominican Republic's Association of Multiple Banks (ABA), which highlighted that construction companies benefited from an expansion of creditthat year amounting to RD$11.64 billion. 

The World Bank says regional growth will be among the lowest in the world

After a 6.9% rebound in 2021, the region's Gross Domestic Product (GDP) is expected to grow by 2.3% this year and an additional 2.2% in 2023, with most countries managing to reverse the GDP losses that occurred during the pandemic crisis. However, these modest projections place regional growth among the lowest in the world at a time when the region faces significant uncertainties, such as the potential emergence of new coronavirus variants, increased inflationary pressures, and the war in Europe, which threatens the global recovery. In fact, the regional growth forecast was revised downward by 0.4% following the Russian invasion of Ukraine. The World Bank projects that the Dominican Republic will be the fastest-growing country in terms of GDP by 2024, maintaining a 5% growth rate in 2022 for two years afterward.

inauguratedwith an investment of RD$1 billion

President Luis Abinader yesterday inaugurated the central atrium of the Las Américas International Airport José Francisco Peña Gómez, built with an investment exceeding RD$1 billion through a public-private partnership's comprehensive and sustainable development strategy. Monika Infante, CEO of Aerodom, emphasized the importance of the project and explained that the new passenger terminal area reflects the ongoing commitment of Aerodom and its parent company, VINCI Airports.

He advises that interest rate hikes should not be "abrupt" so as not to affect customers

The increase in bank interest rates is a very sensitive issue because it depends on market factors that cannot be controlled, so it must be managed in a way that does not affect customers or the margins of the financial system. According to Edgar Iván Del Toro Toral, general manager of Banco Multiple Lafise, an increase in interest rates should be gradual and not abrupt. He explained that Lafise's strategy is to approach each of its clients to understand their needs and make the necessary adjustments.

The Pro Pedernales Trust will create jobs and improve competitiveness

The Pro Pedernales Trust Agreement will create new jobs, boost commerce, crafts and small industry, improve competitiveness in the area and enhance local and foreign investment.

CEopens public consultation on Punta Catalina trust

The Economic and Social Council (CES) has opened a public consultation so that the public can submit proposals regarding the Punta Catalina Thermoelectric Power Plant (CTPC) trust, which is currently under discussion within the organization. The consultation period began on April 6th and will last 25 days. All citizens and institutions interested in submitting recommendations to improve the project, presented by President Luis Abinader in September 2021 through Decree 538-21, are welcome to participate.

CAASD will fill the potholes in the streets of the Capital

The exposed and dysfunctional manholes and storm drains in the capital, whose purpose has always been to drain rainwater and wastewater and carry it through conduits, are now a stumbling block for pedestrians and a major obstacle for those traveling by car. Faced with this long-standing problem, the Santo Domingo Water and Sewerage Corporation (CAASD) plans to put out to tender approximately 100 manhole covers to begin a replacement process in areas they have identified as "critical zones.".

They are discussing with clinics the cessation of the "advance" payment for hospitalizations

In a new step aimed at curbing the requirement of deposits and other practices that affect members of the Family Health Insurance (SFS) when requiring medical attention, authorities of the system and other organizations met with representatives of private health establishments.

The government expects to put eight corridors into operation this year

The executive director of the Transportation Cabinet, Hugo Beras, reported that this year they intend to put into operation at least eight of the 16 corridors that are planned for Greater Santo Domingo.

AstraZeneca says government requested delivery of Covid vaccines in 2022

–The pharmaceutical company AstraZeneca denied breaching its contractual agreements with the Dominican government and stated that, on the contrary, it readily complied with several requests from the authorities regarding the number of doses to be supplied and the delivery dates. Executives from the firm explained that they were ready to deliver the COVID-19 vaccines contracted by the Dominican authorities in 2020.

Sources: Diario Libre, Listín Diario, El Día, Hoy