By decree 724-20, the President of the Republic of Luis Abinader ordered the creation of Pro-Pedernales, a public trust with the aim of implementing the necessary infrastructure for the tourism development of that province.
The provision indicated that the aforementioned southern city offers opportunities for the social and economic betterment of the inhabitants of the southwestern region of the country, represents a space for the promotion of private investment and the creation of decent jobs.
“This trust will promote the tourism development of Pedernales to facilitate the promotion of solutions by the state as part of a series of government policies aimed at the sustainable development of the border region, ”said part of the government statement.
Likewise, the decree prioritizes trust arrangements and public-private partnerships as investment mechanisms, identifying itself as a national need and a way to improve the economic conditions of the area and country.
According to the document, as part of this Pro-Pedernales Trust, the Dominican state will act through the Directorate General of Public Private Partnerships as settlor and trustee respectively.
Likewise, Fiduciaria Reservas, SA, will act as the fiduciary, who will allocate equity for the implementation of the project.
Pro-Pedernales are valid for 20 yearsunless extended by mutual decision.
An Administrative Committee will coordinate the work for the implementation of the project, composed of the Minister of the Presidency, Lisandro Macarrulla, as Chair; the finance ministers, Jochi Vicente; Tourism, David Collado; Environment, Orlando Jorge Mera; Public Works, Deligne Ascención and that of Economy, Planning and Development, Miguel Ceara Hatton.