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Improved Investment Climate, Infrastructure and Skills Top National Action Plan to Foster Growth, Jobs and Opportunities for All

SANTO DOMINGO.– Economic growth that translates into poverty reduction and a stronger middle class in the Dominican Republic was at the center of a series of concrete actions presented Tuesday in a high-level national ceremony hosted by the country at the Presidential Palace. The presentation is part of the Caribbean Growth Forum (CGF), a two-year regional platform for dialogue to foster higher levels of economic growth with opportunities for all in the Caribbean.

The CGF is a partnership between the World Bank, the Inter-American Development Bank (IDB), the Caribbean Development Bank (CDB) and Compete Caribbean, with support from the United Kingdom Department for International Development (DFID) and the Canadian International Development Agency (CIDA). The CGF builds on existing partnerships and involves stakeholders from the public and private sectors, academia and civil society, as well as the Caribbean Diaspora.

Referring to Dominican Republic's challenges in particular, Temístocles Montás, Minister of Economy and Planning, said: “the Dominican Government has taken on the improvement of national competitiveness and it is precisely in this framework that the CGF is being developed in the Dominican Republic.”

The CGF complements the Government's National Development Strategy - Vision 2030, which seeks to ensure the sustainability of ongoing electricity reforms, the achievement of quality education, and transparency in public expenditure. The Dominican Republic for the last decade has been one of the fastest growing economies in the region. Consequently, the CGF aimed at an action plan to foster inclusive growth, poverty and inequality reduction by means of implementing practical and well-identified policies and activities.

In this context, World Bank Country Representative in the Dominican Republic, McDonald Benjamin, suggested that: "The challenge for the Dominican Republic is to ensure that the country’s economic model allows shared prosperity and growth that benefits the poor. This forum is a clear effort that can bring policy reforms to allow broader opportunities for all.”

The CGF action plan presented today includes concrete actions to strengthen the investment climate, improve logistics and connectivity, and upgrade education and develop skills that improve competitiveness and generate higher-paying jobs.

According to the plan, the investment climate could benefit from widening access to finance for small and medium sized enterprises, making it easier to start and operate a business, and strengthening laws to protect investments.

In terms of logistics and connectivity, key actions recommended include facilitating trade conditions at the DR-Haiti Border points, making key infrastructure services more affordable and efficient for exports, imports and tourism, and generating a greater transport and cultural link with the rest of the Caribbean.

When it comes to developing skills to improving competitiveness and productivity, key actions include upgrading education to better match skills with jobs, scaling innovation and technology, creating seed capital to support strategic projects, and fostering a greater interaction between enterprises to raise levels of competition.

About 100 participants from the public and private sectors, youth, academia, trade unions, media and civil society joined the action plan announcement ceremony in the Dominican Republic.

“This CGF phase gives us concrete steps because now there is a human face responsible for every action and every recommendation. The plan has a calendar and identifies the financial source from donors when needed. In addition, civil society will be able to closely monitor the completion of activities,” said Andrea Gallina, CGF Coordinator, World Bank.

Today’s launch ceremony in Santo Domingo included remarks by Temístocles Montás, Minister of Economy and Planning; McDonald Benjamin, World Bank Country Representative in the Dominican Republic; and Jorge Requena, Acting Country Representative for the Inter-American Development Bank.  Also present were Rolando Guzman, President of INTEC University and CGF’s Advisory Board Member; and Andres Van Der Horst, Secretary of State, Founder and Executive Director of the National Competitiveness Council of the Dominican Republic.

Dominican Republic is the first country to launch its CGF action plan. Antigua and Barbuda, Bahamas, Dominica, Jamaica, Grenada, St. Kitts and Nevis, Saint Lucia, Saint Vincent and the Grenadines, and Suriname, will also launch their action plans in the coming weeks.  A regional forum will take place in Nassau, Bahamas on June 24-25 for each individual CGF Chapter to compare notes and find shared solutions.

Up to now over 2,000 people have attended the CGF dialogues and over 100 meetings have been organized by the various chapters in the region. Interested citizens have a continuous opportunity to learn more about and engage in the CGF via the social media channels.

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COMMENTS
7 comment(s)
Written by: josean, 22 May 2013 8:26 AM
From: United States, Fighting the Dictatorship of the Narco PLD Mafia; Guillermo Moreno President 2016


As long as the continue on the Neo Liberal "Make the Rich Richer and Screw Everybody Else" Path it Not Going to Happen!

PS

Nevermind the the Vampire Blood Sucking Dry PLD TAX MUGGING to Pay for Narco Lie-onel's and the Political Committee's 12 years plus of Pillaging, Plundering and outright Stealing!



Written by: generoso, 22 May 2013 8:47 AM
From: Dominican Republic, +Sorry, No Habla Stupid+
Blah, blah, blah and more blah.
If corruption decreases to a barely acceptable 20% instead of 40%, the budget will have billions more pesos to invest, in promoting job creating opportunities thorough capital investments in growth.
Temo Montas is the poster child of wealth creation. Cutting down (and making the government pay) for what he spends in self promoting publicity, PR campaigns, tailored suits, fancy cars, overseas trips, hair dyes and beauty salons, would be a good start.
PS: He has his eyes on running in 2016 also. (More is more).
Written by: Atabey, 22 May 2013 9:56 AM
From: United States, Bring DT Forum Back--

PLD en la Cima.

Growth that supports poverty reduction and a growing middle class is the trifecta DR needs.

As for taxes, check out what the European s are doing on that issue:

The Swiss, the Bahamas, and other off shore tax heavens are/will feel a rather rude awakening.

Close to 1 trillion Euros leave the Union in tax evasion per year, and with massive social requirements at hand the European governments need every last penny. BTW, 1 trillion euros is 7 X the annual euro budget!



Written by: dreadlocks, 22 May 2013 10:59 AM
From: United States
care to tell us what is the trifecta for poverty reduction, Profe?
Written by: Atabey, 22 May 2013 11:36 AM
From: United States, Bring DT Forum Back--

Dready,

It's stated above:

1. Real reforms in electrical sector leading to sustainabity.
2. Quality educational reforms.
3. Greater transparency in Public Expenditures.

As Generoso states above, a 50% cut in waste and corruption might yield a bountiful harvest all by itself.


Written by: josean, 22 May 2013 11:50 AM
From: United States, Fighting the Dictatorship of the Narco PLD Mafia; Guillermo Moreno President 2016


How about what the VP Margarita Cedeño Fernandez has STATED;

The Economic Model that her Husband and the other Neo Liberal Nincompoops of the PLD"s Political Committee Plagued the Dominican Republic with 12 Plus Years has FAILED.

....And she made that Assertion in Geneva at a International Forum No Less!

Like I said it is bad enough when the Opposition Parties are Whacking You………. but when it comes from your OWN PARTY and WIFE it must be Devastating for Lie-onel and the Lie-onelistas!


Written by: josearias, 22 May 2013 4:23 PM
From: United States
Star by cotting the famous. Barrilito And give to the teachers and race. The minimum wage star some. Where around there
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