Santo Domingo.-The Government launched the National Competitiveness Strategy Wednesday, with which it identifies the vulnerabilities of investment and with which it intends to position the country as one of the most developed in the region in the short term.
To that end Congress passed Law 167-21, on Regulatory Improvement and Simplification of Procedures, which consists in streamlining bureaucratic procedures when launching a project.
President Luis Abinader stated that in the Strategy 1,873 procedures were reviewed in 53 institutions, which cost RD$264 billion, equivalent to 5.5% of GDP (gross domestic product).
Of these, the simplification of 274 procedures has been prioritized, such as the rest of 2021 and 2022, the following processes will be streamlined: opening of companies in 24 hours, creation of a one-stop investment window, with priority in tourism and construction; the request for birth certificates, late declaration and identity cards will be digital; application for passports in 24 hours, and fast delivery of the exequatur.