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Santo Domingo.- The Dominican Republic is retreating as to the subject of capitalization of the energy sector, considered American Chamber of Commerce president, Kevin Manning.

In his view, the country has shown weakness in resolving the crisis.  He also said that with, political will, the energy problem could be solved, and for this, the law criminalizing theft exists in the Congress, because, in his view, the fundamental problem is the fight against fraud in the energy sector.

Manning stated that the Dominican Energy Consortium (CDEEE) is seeking a solution in the wrong place by pursuing renegotiations of contracts, when instead the solution lies in fighting fraud.

According to the business leader, for the longest time, international entities and consultants have presented reports to the country through the United States Agency for International Development (USAID), the World Bank, and others have directly addressed president Fernandez on the issue.  Manning considers that the focus should aim at the unflattering results rendered by the distributing firms.

“What is the CDEEE doing?,” asked Manning, responding that “the entity is focused on the generation contracts and this is not the problem…  The number one priority is to fight fraud.”

He emphasized that the law must be rigorously enforced, in order to set the house in order.

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COMMENTS
3 comment(s)
Written by: David, 12 Jan 2007 1:36 PM
From: Sto Dgo
Full disclosure is omitted from this article as Mr Manning's business is electrical generation. Therefore it maybe hard to determine if he is speaking for AmCham or using it as a podium for his own interests.
Written by: jeffrey, 13 Jan 2007 10:35 AM
From: Nueba Yol
Mr. Mannig : i thought the main purpose of your company was to generate electric power not to fight fraud.
Written by: Mohamed, 22 Jan 2007 12:48 PM
From: Washington, DC
The real problem "IS" the contract. If the electric power producer was a domestic company (Dominican owned), then all of the revenues from the contract would circulate i the Dominican economy. Insteadthe contract belongs to a foreign company that has the right, by virtue of the contract to constantly take valuable revenue out of the country. This is a form of capital flight which does not benefit the Dominican economy. There should be a buyouty by domestic owners to end the argument.
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