Santo Domingo.- As part of the United States-Central America free trade agreement (Cafta-DR) Dominican Republic has lagged behind in exports to the US market, compared to its counterparts, Costa Rica and Honduras, from 2007 to 2016.
Madrid.- The Punta Cana-Macao Energy Consortium (CEPM) will invest US$140 million in a 90 megawatt power generation plant in the Bávaro area. It is expected to be completed by November 2018, as well as a solar electricity park.
Santo Domingo.- The World Bank on Wed. released a new report which identifies the ways Dominican Republic’s tax system can become more efficient, to increase revenue, and promote inclusive growth and competitiveness.
IFC, a member of the World Bank Group, with support from the Government of Canada, has completed an $80 million financing package for the construction and operation of a new, grid-connected, 50 megawatt wind farm to help diversify the Dominican Republic’s energy matrix and ease its dependence on imported fossil fuels.
With the recently approved Financing Law 2018, Congress authorized the Executive Branch to sell the capital shares or stake in State-owned companies or projects up to an amount not higher than 5% of the public debt of the Non-Financial Public Sector (SPNF).
JAMAICA and the Dominican Republic will be increasing collaboration in tourism, trade, sports, culture, and education, among other areas, with the aim of bringing tangible benefits to both countries and the wider region.