Private investment is gradually making itself felt in Cabo Rojo’s tourism takeoff. So far, the tourism development trust ProPedernales has registered an investment of US$130 million, with participation in the three hotels and the beginning of the airport’s runway.
The construction of the airport, which will be located in the community of Manuel Goya, municipality of Oviedo, is being executed by Consorcio Acciona. The port is being built by ITM Group.
So far, the Dominican Government has invested RD$3,000 million in water projects, conditioning, planning and designs, and according to Andrés Van der Horst, executive vice-president of Fiduciaria Banreservas, “the process of partnerships is being closed with the public offering”.
The ProPedernales development project will operate through a Public-Private Partnership (PPP), on the basis of a 52% state participation and 48% by the private sector.
“The contract will never be minority, the State will always be in the majority,” explained Van der Horst, according to Listín Diario.
The government participates as a partner of the private sector, as a Public-Private Alliance, where the State puts the land and the investors operate the project and look for money with financing.
It is emphasized that the project operating under trust is forbidden to sell the land. In addition, the resources to be invested in that macro project will be traded in the stock market, through stock exchange posts.
Source:Arecoa.com
