Despite rising costs, the housing market is dynamic; the Supreme Court of Justice (SCJ) establishes that banks cannot discount debts without prior notice; the Manzanillo power plants will cost approximately US$1.7 billion; the investment will come from the private sector; the country will host the CEAPI Congress; three photovoltaic energy projects are inaugurated with a record investment of US$800 million; the upcoming census will collect data on pregnancies and the pandemic; the Superintendency of Banks launches a campaign to promote consumer protection; it is clarified that only three Haitians are working on the border fence construction; Camacho on Danilo Medina: “I don’t give details about open investigations”; Abinader: the government is up to date with payments to electricity generators; the Manufacturing Activity Index falls to 56.9 in April 2022; the definitive closure of the Verón-Punta Cana open-air landfill is announced.
Despite rising costs, there is dynamism in housing
Despite rising construction material prices impacting housing costs, the real estate sector is experiencing dynamism due to strong demand for investment and second homes. Mabel Lugo, a broker with Exp República Dominicana, stated that the sector has seen a 100% increase in activity since the COVID-19 pandemic, attracting new local and international investors as the country has established itself as a safe destination for retirement or investment.
Supreme Court rules banks cannot discount debts without notice
The Civil and Commercial Chamber of the Supreme Court of Justice (SCJ) maintained the jurisprudential position that commercial banks cannot deduct outstanding debts with financial intermediation entities from the salary of workers, except by agreement established by the parties in the manner that results from the legal system, therefore, express authorization is required, otherwise it would be a violation of the Constitution and Convention 95 of the International Labour Organization (ILO).
The power plants in Manzanillo will cost approximately US$1.7 billion; the investment will come from the private sector
The Dominican government announced the winners of the tender for the construction of two natural gas-fired power plants in Manzanillo, Montecristi province, at a cost of approximately US$1.7 billion. During a press conference held in the Cariatides Hall, Haina Investment Corporation was named as the company responsible for constructing Block 1 of the project, which includes a 400-megawatt natural gas-fired power plant and a natural gas terminal. This will be the second such plant in the country and the first in the northern region.
The country will host the Ceapi Congress
The President of the Dominican Republic, Luis Abinader, and the Minister of Industry, Commerce and MSMEs, Víctor -Ito- Bisonó, will have a prominent role in the fifth edition of the Business Council Alliance for Ibero-America (CEAPI), which will be held for the first time in Latin America and, under the title of 'Innovation and opportunities in times of uncertainty', will take place on June 1 and 2 in Punta Cana.
Superintendency of Banks launches campaign to promote user protection
As part of its 75th anniversary celebrations, the Superintendency of Banks (SB) launched a campaign to raise awareness of its work within the Dominican financial system and its benefits to society as a whole. Under the slogan "Taking care of the system, we take care of you," the institution highlights its efforts to ensure the health of the financial system through banking supervision, regulation, and consumer protection, and how this translates into certainty and confidence for the general population.
Three photovoltaic energy projects inaugurated with a record investment of US$800 million
President Luis Abinader highlighted yesterday, Monday, that during his administration, three photovoltaic projects have been inaugurated, totaling 200 MW, including the El Soco Photovoltaic Park project, with 10 more under construction, representing a record investment of US$800 million.
The next census will collect data on pregnancies and the pandemic
The tenth National Population and Housing Census, to be conducted between November 10 and 24, will collect data on the age at which women are having their first pregnancy, ethnic and racial identification, household waste disposal, as well as information on Covid-19 and vaccination—aspects not covered in previous censuses. For 14 days, a total of 25,304 census takers will be deployed throughout the country, also gathering information on mobility indicators based on the census respondent's mother's birthplace, unoccupied "dwellings under construction," and "temporary" or vacation homes.
They clarify that only three Haitians are working on the construction of the border fence
The consortium in charge of constructing the "Cofah Border Development" smart perimeter fence clarified that only three Haitians are currently working on the project. The company explained that 107 people are currently employed, of whom 100 are Dominican, three are Peruvian, three are Haitian, and one is Venezuelan. The Peruvians work in engineering, the Haitians are laborers, and the Venezuelan is a foreman.
Camacho on Danilo Medina: “I don’t give details about open investigations”
Magistrate Wilson Camacho, representative of the Specialized Prosecutor's Office for the Prosecution of Administrative Corruption (Pepca), stated this Monday that he cannot offer statements on ongoing investigative processes, referring to a possible investigation of the former president of the Republic, Danilo Medina.
Abinader: The Government is up to date with payments to electricity generators
In response to complaints about the recent power outages, President Luis Abinader clarified that the government is up to date on payments to private electricity generating companies. "I ask that you speak with the generators; the government is current on its payments to them," Abinader told reporters on Monday when questioned about the matter.
Manufacturing Activity Index falls to 56.9 in April 2022
The Dominican Republic's Association of Industries (AIRD) Monthly Manufacturing Activity Index (IMAM) fell in April compared to March, dropping from 63.7 to 56.9, reflecting declines in the variables of Raw Materials Inventory, Production Volume, Employment, and Sales Volume. The IMAM has remained above the 50.0 threshold throughout 2021 and the first four months of this year.
Announces definitive closure of the Verón-Punta Cana open-air landfill
The open-air landfill operating in the Verón-Punta Cana tourist area will be permanently closed, announced José Leonel (Neney) Cabrera, Minister of Strategic and Special Projects of the Presidency (Propeep), on Monday. To facilitate this closure, Cabrera signed an agreement today with the mayor of Higüey, Rafael Barón Duluc, and the director of the Verón-Punta Cana Municipal District, Ramón Antonio Ramírez (Manolito).
Sources: Hoy, El Día, Diario Libre, Listín Diario.
