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Santo Domingo.- The Dominican Exporters Association (ADOEXPO) joined similar groups and personalities which hail president elect Danilo Medina’s statements on creating the Export Development Bank, to ensure funding for local innovative research projects and clusters.
ADOEXPO president Kai Schoenhals said the initiative would provide Dominican exporters financing at better terms, to successfully compete in foreign markets, providing access to technological tools for growth and efficiency.
He said international markets are increasingly more demanding and competitive, for which efficiency program requires mechanisms in the production and exports processes.
He said the creation of the Export Development Bank would place Dominican Republic in a better position to continue expanding and growing among world markets.
The business leader said the entity supports all aspects toward the creation of that Bank, and would provide expertise and support to make it a reality.
Schoenhals said Dominican exports have grown sustainably every year, but the emergence of that financial institution will allow a quantitative jump which he affirms will benefit to the country.
He said it’s difficult for Dominican Republic to compete in markets abroad, but when there’s political will it becomes easier and profitable.
Schoenhals asked Medina to take all productive sectors and exporters into account so the result of the creation of this Bank is by consensus.
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You’re Falling Down on your expertise of All Things Dominican!
From: Dominican Republic, vieja Santo Domingo
This is something I have missed ,,there was no export development bank before ?? that is crazy"
Rich,
One of the greatest failings of previous administrations has been the utter lack of modernity and professionalism in regards to developing the state and nation in DR. Statistical departments that lacked qualified staffing and modern techniques and understanding. Modern accounting systems and administrators...and on and on. It's has only been in the last decade or so that DR has actually begun the long process of reaching its baby steps in terms of many modern departments and schemes.
The capitalist class in DR have often been too parochial and domestic in their pursuit of business opportunities. And DR has suffered from not having a boarder more developed Export presence in the World. Hopefully, this planned Export Development Bank does come about for the prosperity of all
How come your PRD lackeys never created a export development bank?
1. They have to make their cut for handling, etc.
2. They where assuming the currency depreciation risk, since the loan's converted to pesos.
3. They where also taking into account future losses for non payment.
The sad part is that the requirements where as tight as any commercial loan in the DR, requesting real property as collateral and only valuing the assets at a ridiculous 60% of appraisal value.
So unless the strangle hold that the banks have on being intermediaries, is broken, this proposal is just more hot air.