Dominican Republic pledges zero red tape for investments

Santo Domingo.- Cabinet minister Geanilda Vásquez on Wed. said President Luis Abinader wants to expedite the permits processes in govt. institutions, so that a company or industry can be established within three days if necessary.

Interviewed after a National Palace meeting headed by Abinader with senior officials, Vásquez said the president is interested in “fostering a favorable climate for investment and the dynamism of the economy.”

“A permit that lasted three months, one year, two years, has to have a defined time starting in January for an investor to obtain a permit, for a builder; For any commercial activity for economic reactivation, those sectors understand that the permit has to be an instrument for development.”

The official told reporters that also discussed in the meeting was the need to reduce bureaucratic obstacles in public administration. “The president has an interest in zero bureaucracy within the State, that the investments made are more agile.”