President Luis Abinader announced that a plan agreed upon by all foreign trade stakeholders could be presented in the first quarter of 2021 to submit and approve all legislation related to positioning the country as a Logistics and Cargo Hub.

During his participation in the "AMCHAMDR Encounter" organized by the American Chamber of Commerce of the Dominican Republic (AMCHAMDR), Abinader stated that members of his cabinet, along with private sector institutions, are reviewing current legislation to make the necessary modifications to administrative provisions, decrees, and laws for submission for approval.

"We are coordinating with AMCHAMDR and other institutions to identify the provisions, decrees, and modifications that need to be made to the legislation regarding the Logistics Hub. We hope to have a final consensus in the first quarter of next year and be able to submit these changes for approval." the president stated.

In this regard, Abinader announced that the trust offer for the development of the Manzanillo Port and Pedernales Province projects will be presented in the first quarter of 2021, and he insisted that the country is a safe and reliable investment destination.

Regarding the recovery of the tourism sector, Abinader noted that hotel occupancy is projected at 50% for the high season and that plans for next year include relaunching the tourist destinations of Puerto Plata, Samaná, Punta Cana, and Pedernales.

He also pointed out that this year's deficit will be lower than expected, thanks to the government's savings of approximately 55 billion pesos.

“This management gives economic agents confidence in the government's discipline and prudence with the deficit reduction and the increase in tax revenues, which in October and November were higher than last year." Abinader said during his virtual speech.

The president stated that his administration will continue working together to promote trade and investment between the Dominican Republic and the United States, while noting that he does not expect any changes in relations between the two countries with the new U.S. administration.

Regarding the future of the FASE and Stay at Home programs, the president said his government will not leave those affected by the pandemic alone. He stated that a gradual rollout will be implemented in the first months of 2021, and his administration is also considering some compensation through Progresando con Solidaridad (Prosoli).

AMCHAMDR promotes cooperation to boost the country's development

Meanwhile, the president of the American Chamber of Commerce of the Dominican Republic (AMCHAMDR), Ramón Ortega, highlighted the president's support for the country's integration into the United States' value and supply chains and for positioning the Dominican Republic as a nearshore shared production platform and the Caribbean's logistics hub.

Ortega emphasized the inter-institutional cooperation between the Dominican government and AMCHAMDR to promote a joint productive agenda through the creation of four working groups that identify actions in areas such as the digital transformation to a "cashless and touchless" economy and streamlining and simplifying government procedures.

Furthermore, it helped President Abinader's government decide to strengthen ties between the Dominican Republic and the United States, primarily through the signing of a Memorandum of Understanding with the United States Development Finance Corporation for International Development under the "América Crece" program.

Meanwhile, William Malamud, executive vice president of AMCHAMDR, praised the president's leadership in dealing with times of crisis like the one we are currently experiencing.