Economy August 19, 2016 | 9:19 am

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‘We’re no monopoly,’ says Dominican Republic’s biggest brewery

Santo Domingo.- The brewery Cerveceria Nacional Dominicana (CND)on Thursday "categorically" denied what it called "unfoundedallegations" of unfair practices and abuse of its supposed monopolisticposition in Dominican Republic’s beer and rum market.

In a statement the CND responds to a study accusing it of abusingits dominant share in the beer market.

The economist Jaime Aristy Escuder conducted the study commissionedby the National Competition Protection Commission (CNDC).

“It does not correspond to the behavior and modus operandiof the Dominican National Brewery in the market," the CND said.

It said the CND’s corporate history has been "anexample of transparency and strict compliance with Dominican law." it saidits local and international practices are subject to adherence to a rigorous programof compliance, competition and business conduct.

“The Brewery is a company with a long and successfulbusiness tradition that generates more than 3,500 direct jobs and 60,000indirect jobs,” it said, adding that it’s also Dominican Republic’s biggesttaxpayer. “Since the purchase of 51% of the shares by AmBev in 2012, it hasinvested more than US$300 million to expand and modernize their operations.”

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