Economy May 20, 2019 | 8:12 am

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Santiago Merchants face hurdles, even from abroad

Santo Domingo.- Santiago’s Merchants and Industries Association (ACIS), created 58 years ago with 1,300 companies from the north of the country, faces important challenges today to maintain the development achieved and continue on the path of growth as the Cibao region main business entity.

The cost of transportation, of energy, the low purchasing power of the population and the lack of infrastructure construction that promote development are some of the hurdles, said Sandy Filpo, president of the ACIS, accompanied by board members Luis Núñez and Marcos Santana.

Quoted by Diario Libre, Filpo said they wager on changes that produce a regional business expansion, that the loss of employment in recent years has significantly affected the city of Santiago, which has lost its purchasing power, the ability to mobilize and that about 50 million pesos that every Friday was spent on the streets such as El Sol, “now have become businesses owned by Chinese and Indian foreigners.”

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