Abinader says tourism recovery saved the Dominican Republic's economy; business climate in Latin America falls to its lowest level in almost two years; high freight costs worry the air and sea cargo sector in the Dominican Republic; Customs director says they save RD$5.7 million a day through efficient use of resources; Guerra monopolizes solar energy investments in the country; flour and chicken producers will be subsidized; the electricity crisis is easing; the 15% tax on multinationals will be delayed until at least 2024; authorities investigate the participation of military and police in the SDE assault; a shooting in Texas leaves 21 dead; 18 of the victims are children.
Abinader says that reviving tourism saved the Dominican Republic's economy
The President of the Dominican Republic, Luis Abinader, explained on Tuesday how a coordinated, multi-sectoral strategy to revive tourism after the crisis caused by the COVID-19 pandemic has enabled the sector's recovery and, consequently, the country's economy. Abinader said he is "positive and optimistic" about the future of the tourism sector in the Dominican Republic, speaking at a press conference at the Davos Economic Forum, where the 2021 Travel and Tourism Development Index: Rebuilding for a Sustainable and Resilient Future was presented.
Business climate in Latin America falls to its lowest level in almost two years
The business climate in Latin America fell in the second quarter of 2022 to its lowest level in nearly two years, affected by the war in Ukraine, according to the indicator measured by the Brazilian economic research center Fundación Getulio Vargas (FGV) released yesterday.
High freight costs worry the air and sea freight transport sector in the Dominican Republic
Although neither the COVID-19 pandemic nor the effects of the armed conflict between Russia and Ukraine completely disrupted the supply chain for logistics distribution centers and freight forwarders, there is a latent concern about the cost of international freight , which continues to rise, reported the Dominican Association of Air and Sea Freight Forwarders (Adacam).
Customs Director says they save RD$5.7 million a day through efficient use of resources
The efficient use of resources in areas such as fuel, consumables, and cleaning products, among others, allowed the General Directorate of Customs (DGA) to save RD$2.082 billion during 2021, equivalent to a daily savings of RD$5.7 million. This was reported by the institution's director general, Eduardo Sanz Lovatón, who indicated that with this capacity for cost reduction, the government of Luis Abinader is building schools, roads, and hospitals.
Guerra monopolizes solar energy investments in the country
The municipality of San Antonio de Guerra, in the province of Santo Domingo, has become the focus of investments in large-scale photovoltaic solar energy production projects. One example of these projects is the Mata de Palma I Power Plant, which began operations in 2019 and has 50 megawatts of installed capacity, as an asset of the foreign-owned company Corporación Multi Inversiones (CMI).
Flour and chicken producers will receive subsidies
The Minister of Industry and Commerce, Víctor "Ito" Bisonó, yesterday signed two new agreements to subsidize a total of RD$1.233 billion to wheat and chicken producers, to be implemented immediately. He explained that the agreements include an extension of the agreement signed with the Dominican Association of Wheat Milling Industrialists (ADOIMT) for an additional RD$533 million for another 60 days.
The electricity crisis is easing
The National Interconnected Electric System (SENI) is maintaining a supply above 3,016 megawatts, a level that authorities promise to maintain with an additional 400 megawatts of generation capacity currently in the bidding phase. The service is now stabilized after several generating plants went offline simultaneously last week, draining more than 800 megawatts from the SENI and causing blackouts in various parts of the country.
The15% tax on multinationals will be delayed until at least 2024.
The application of the 15% minimum tax for large corporations will not be implemented before 2024, according to the Secretary-General of the Organization for Economic Cooperation and Development (OECD), Mathias Cormann, who admits that this will be a delay compared to the initial idea of doing it in 2023.
Authorities investigate the involvement of military and police personnel in the SDE raid
The modus operandi of the armed group that assaulted an armored truck inside a Liquefied Petroleum Gas (LPG) distribution plant in Santo Domingo East shows a pattern typical of the tactical training received by military and police personnel.
Texas shooting leaves 21 dead; 18 of the victims are children
An 18-year-old man shot and killed at least 18 children Tuesday at an elementary school in Texas, officials said. Three adults were also killed, according to State Senator Roland Gutierrez, who said he was briefed on the victims by state police. The gunman also died, but it was unclear whether he was included in the death toll.
Sources: Hoy, Listín Diario, Diario Libre, El Día.
