Santo Domingo, RD.
By decree 724-20, the President of the Republic, 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 indicates that the tourism pole of the southwest region offers an opportunity for the social and economic improvement of the inhabitants of the southwest region of the country, represents a space for the promotion of private investment and the creation of decent jobs.
It means that the establishment of this trust will promote the tourism development of Pedernales and facilitate the promotion of solutions by the state as part of a series of government policies aimed at the sustainable development of the border area.
The decree also prioritizes trust schemes and public-private partnerships as investment mechanisms, involving the public and private sectors in the development of sustainable tourism.
Who can participate?
The decree says that they can be trustees or adherent trustees, natural persons or legal entities who make contributions of any kind to the composition of the trust assets, with the necessary approval of the Administrative Committee.
The Dominican state, as part of this trust, will act through the Directorate General of Public Private Partnerships as settlor and trustee respectively; and on the other hand, Fiduciaria Reservas, SA, will act as the fiduciary, who will allocate the equity funds for the implementation of the project.
This trust is valid for 20 years, subject to renewal by mutual decision.
Coordination
An administrative committee will coordinate the work for the implementation of the project, which will be composed of the Minister of the Presidency as chairman; the finance ministers; Tourism; Environment; Public works and economics, planning and development
DETAILS
Property
For the development of this trust, it will be carried out on the land identified as plot 215-A, in Cadastral District # 3, with an area of 361,978,762.00 square meters, located in Enriquillo, in the province of Barahona. To this end, National Assets are instructed to carry out all actions, procedures and resources that enable an effective contribution of this asset to the Trust.