“Santiago is not trendy, it just hasn’t been sitting around waiting”

Entrepreneur Miguel Lama assured that Santiago’s current progress is not the result of luck, but of the strategic planning of its business, social, cultural and academic leadership.

“Santiago is not trendy, it just hasn’t been sitting around waiting. The city is marked by transformation and progress cycles that have left a lasting impression on the northern region and the country. We have always tried to design our fate and at the same time become reliable and attractive hosts for those who bet on the city,” Miguel Lama, guest speaker at the Business Luncheon ¨Santiago: Business Mecca and Investment Epicenter¨, organized by CAPEX, expressed.

Towards consolidating our position as a world-class destination, we highlight institutional strength, competitiveness, security and innovation. This joint effort has generated thousands of jobs by promoting knowledge transfer and best practices, which is vital for industrial and cultural development that impacts the contribution to the national GDP every day,” the president of the Santiago Free Trade Zone Corporation stated.

On Fiscal Reform
Lama stated that fiscal reform implies sacrifices. In previous reforms, the people have taken it on board, however, governments have not necessarily made a wise and appropriate use of the resources generated”, which is why he recommended that this new reform be accompanied by laws and regulations that ensure a responsible and transparent use of the resources generated.

On labor reform, the entrepreneur said that the benefits acquired and the contractual commitments should promote more jobs, more security, more benefits, more loyalty.

On Santiago and the Northern Region
The entrepreneur explained that the region generates 35% of all economic activity in the country and 40% of formal employment. In addition, Cibao is home to 50% of the Dominican free zones and is currently consolidating as a hospital and health tourism hub, as well as having an excellent academic corridor and the connection with companies is taking on new levels to support investments in the coming years.

Miguel Lama also highlighted the enormous potential of new hotel infrastructures in Santiago and the entire region, as well as the construction of the tramway and the cable car, by the Dominican government.

About the Corporation
As the Free Trade Zone Corporation celebrates 50 years of operations, it has been a driving force for prosperity, generating jobs, promoting economic development and leading social and economic investment projects that have transformed society, he explained. From health to education, from infrastructure to entrepreneurship, the Corporation has been an innovative and sustainable engine of change,” he stated.

Miguel Lama reported that the Corporation is currently developing the “Santiago Business City”, a business city, with great appeal for top talent, professionals and world-class companies. With Santiago Business City we seek to position ourselves on the international map as an important international business center, with advanced services, which promotes 5.0 manufacturing and technology. In short, we are moving towards Santiago as a business mecca¨, he stressed.

The Business Lunch was sponsored by: the Santiago Free Trade Zone Corporation, Banco Popular, AFP Siembra, PARVAL Stock Exchange, Universal Insurance, Mercado Magazine and Banreservas.