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High-rise Torre Mirador keeps rising despite red tape and legal uncertainty.
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SANTO DOMINGO.- Weaknesses in legal security, the extensive red tape and deficient electrical service are three elements that push foreign investment in the country away, said representatives of several areas  businesses quoted by newspaper Diario Libre.

Although foreign capitals show an increasing trend, the negative factors prevent a major influx.

In the real estate industry 33 percent of potential investors stay away, according to figures from the Association of Real Estate Companies.

Pablo Linares, president of the Association of Foreign Investment Companies, stresses the cases he describes as uncertainty in the game rules, such as the conflicts with the company Chevron and the high-rise in Santo Domingo’s exclusive Los Cacicazgos sector.

In the recent past, the embassies of France, Spain, Italy and the Europe Union have voiced criticism of what they describe as a lack of legal security for investments in the Dominican Republic.

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Written by: gouletcolonial, 25 Aug 2008 7:22 AM
From: United States, California, San Francisco, Treasure Island
If we did not have these uncertainties we would be overrun with investors and God only knows we would not want that....We only want scammers bringing money here to launder not legitimate quality investors because they are to difficult to steal from
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Written by: JimHarrington, 25 Aug 2008 11:09 AM
From: United States
The article seems to indicate the problem well.

However one of the major reasons people don't buy is the cunstruction uncertanty.
Let me explain.
You may purchase a wonderful apartment with a view to suddenly see after you move in that another building will now block your view. Corruption in the system allows building permits to be issued indescrimanetly.

The lack of a government regulated infrastructure is completely lacking such as power, water and road work.
Lack of parking for visitors is one major reason for refusal to buy.
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Written by: gouletculonial, 25 Aug 2008 12:05 PM
From: Dominican Republic
no problem .. we find way .. no problem
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Written by: TexasBill, 25 Aug 2008 12:25 PM
From: Dominican Republic

Needless to say, what is needed is INFORCABLE ZONING LAWS which will prohibit certain structures from ever getting to the "ground breaking" stage.
Such regulatory devices would assure that "slums" remain so and that "super condos" aren't intermingled with these substandard structures, thus assuring the continued high value of the neighborhood.
In addition, such regulations would facilitate the rehabilitation of many of the substandard structures in being.
The "shanty-town" scenario just might disappear after a fashion....HUH???

TB
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Written by: ArsenioALembertJr, 26 Aug 2008 12:16 AM
From: United States
The uncertainties that is on the backs of most foreign investors minds is the potential for a violent upheaval that would jeopardize their investments. Remember what Castro did with all foreign investments after 1959? Would you invest any money in RED Venezuela? Or, in Nicaragua? How about Bolivia? In 'Latin' America, there is a socialist trend that eludes most who don't follow these movements closely. What some desiring to invest in DR, must be watching is not only their Euros, and Dollars; But, also the inroads that the proletariat professing politicos are making...It's creepy! If you were going to invest (hard earned capital), wouldn't you think twice? You might want to disagree, but; The potential for a coup d'etat, and the eventual nationalization of all assets is a possibility. Some invest, few gamble!
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Written by: cheworks1959, 27 Aug 2008 1:34 AM
From: Sudan, Dafur
Arsenio Jr: you've hit it right on the nose! I bellieve that Presidente Leonel is well aware of the depth of the problems plaguing DR. Again, the only true way to break the cycle of corruption is a dictatorship or a revolution. Forget the latter...dominicans see that as too much work. If Leonel "temporarily" suspended the constitution, criminals and conspirators would take notice.
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Written by: cheworks1959, 27 Aug 2008 1:44 AM
From: Sudan, Dafur
Oh, yeah, if there was a "terrorist" attack today, President Bush has the legal authority to impose martial law. The Patroit Acts clearly states that in the case of such an act, the president is granted "emergency powers". That's creepy. Awesome jobs, congressional idiots...you handed "emergency powers" to the one dude that deserted his military duty. You can't make this crap up.
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Written by: gouletcolonial, 27 Aug 2008 7:18 AM
From: United States, California, San Francisco, Treasure Island
Cheworks ... a good example of what you say ....Pinochet was the best thing that ever happened to Chile and I am glad he is gone ......Franco was the best thing that ever happened to Spain and I am glad he is gone....Castros and the commies will probably leave something better behind..... the sooner the better begone
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Written by: texasshoe, 27 Aug 2008 8:15 AM
From: Venezuela, Puerto la Cruz, Sector Agua Potable, Pozuelos
Or taken to the extreme the result is the following;

http://english.eluniversal.com/20....onalizations-res_26A1943239.shtml

I had posted last week how power outages are not just in the DR but elsewhere and this addresses that as well.
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Written by: mannyberrios, 27 Aug 2008 10:06 AM
From: Puerto Rico
Beautiful country, what a shame!
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Written by: cheworks1959, 27 Aug 2008 6:38 PM
From: Sudan, Dafur
Texasshoe...the opposite of free-market capitalism is communism. There is a reason for the Castros and Chavezs of the world; history has taught us that they represent a reaction to the extremes of a "free" market system. Venezuela has a very potent GDP based around oil. What Chavez did was redistribute wealth to the most humanitarian sectors of the economy. Health care for the poor, land issuance and re-emphasis on education. Yet, the media (US or Venezuela, same crap) never seems to articulate it that way. They state what is most easily impressed on the masses (e.g., Chavez is a communist, Chavez is a mad man) and does a porous job of presenting two sides. Tell me: did the media reports of Exxon making $10 billion quartely profits upset you in any way? Or do you accept it as "business as usual"?
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