Watch out for monopolies, industrial leader warns

Santo Domingo.- Industrial leader Antonio Taveras on Sun. demanded more action from the National Competition Defense Commission to halt what he affirms is a growing tendency towards the concentration of the country’s strategic markets.

The president of the Herrera Industries Association said many damages stem from the phenomenon that blocks the development and wellbeing of economic agents.

“The high concentration that prevails in the country’s sensitive markets puts the capacity of competition of the local economy at risk, seriously affecting the fundamental rights of the consumer population,” said Taveras.

The business leader said that in view of the authorities, the country is multiplying the monopolies and oligopolies that drastically limit the growth and development potential of the Dominican economy and discourage the entry of new capital.

“All modern economic studies clearly indicate that concentrated markets do not benefit the State, the business sector or consumers.”