• In general, Professor Hausmann pointed out the importance of stopping comparing the DR with the poorest countries. The Dominican Republic has increasingly managed to close the income gap we previously had with the US, for example, which is extremely positive. So, even though Latin America, in general, is not doing very well, the DR has grown more compared to the other Latin American countries (5%), which – according to the Professor’s criteria – is basically due to our ability to reinvent ourselves and focus more on exports, which are currently at an excellent pace. For example, local manufacturing exports registered a cumulative sum of about USD$1.41 billion, accounting for 12% of the country’s total exports. Crucial exports, according to Professor Hausmann, and this is where we should focus our efforts to further energize the economy and grow in a sustained manner.
• He also stated that not all tax spending is bad. There are exemptions and incentive laws that must be sustained or created. Rates should not be the same for all economic sectors, and the Government should consider this in future tax reforms.
In the opinion of the Minister of Industry, Commerce and Mipymes (MICM), Víctor -Ito- Bisonó, the implementation of the “Made in Dominican Republic” seal has been “successful” because 815 products of various items manufactured in the country by 80 industries have already been authorized.
“After one year, we are pleased to report that 815 products manufactured in the Dominican Republic have obtained the authorization of this distinctive seal. To date, we have 80 authorized industries, we have granted 100 licenses for use, and 126 products from various sectors are already available on the shelves of stores throughout the country,” said Bisonó.
In celebrating today the first anniversary of the initiative, together with the Association of Industries of the Dominican Republic (AIRD), Bisonó said that the seal stimulates local production and employment.
He said that outstanding and authentic “Made in the Dominican Republic” products are displayed in hardware stores, pharmacies, supermarkets, convenience stores and service stations nationwide.
“It is very gratifying for us to note that industries of all sizes throughout the national territory have enthusiastically embraced this initiative, demonstrating that the ‘Made in Dominican Republic’ seal belongs to everyone,” the official said.
He added that foreign companies that operate in Dominican territory and base a large part of their production on local labor, have decided to incorporate the “Made in Dominican Republic” seal.
He explained that this seal stands as a key catalyst in the economic and social fabric of the country, contributing to its development and growth.
The MICM informed that the seal passed the process of internal and external audits, and has been “successfully” included in the new scope of the MICM’s ISO 9001:2015 Certification, which guarantees the excellence of the service.
During the activity, it was informed that the “Made in the Dominican Republic” seal represents an economic sector that contributed 146,658 formal jobs, which meant approximately 9% of private employment in the period January-November 2023.
During the same period, local manufacturing exports registered an accumulated amount of US$1,409.6 million, equivalent to 12.2% of the country’s total exports.
Made in the DR Seal
“Made in the Dominican Republic” is a unique and differentiated distinctive, coordinated by the MICM and the AIRD. It was launched on February 8, 2023. It is granted to local manufacturing industries and free trade zones that comply with the established requirements and conditions of use.
The seal is available at the MICM’s Virtual Window, on a voluntary, free, and 100% digital basis.
Industrialists’ position
“We at the AIRD have embraced this initiative of the Ministry of Industry, Commerce and Mipymes, since its launch last year, understanding that it adds to our constant objective of improving the positioning of our products locally and internationally,” said Juan José Attias, first vice president of the Association of Industries of the Dominican Republic (AIRD).
Mario Pujols, executive vice president of the AIRD, indicated that the seal is an important tool to promote, defend, and give the importance that everything made in the country deserves.
Both executives spoke during the master conference: “Importance of industrial policies for the development of countries”, which was given by Ricardo Hausmann, a professor at Harvard University.
In his lecture, Hausmann spoke about five public policy issues: the optimal tax, public goods, talent attraction, innovation, and green growth.
“The country would be richer if it had a more dynamic industrial sector, which could absorb more jobs; it would be good for the national average if that were the case,” he said.
On employment, he noted that remote or telecommuting could become a big area of economic activity.
“Going forward, task exports are going to be a bigger business. On the one hand, we are going to be able to access more talent without necessarily having it here and, on the other hand, the talent we have we are going to be able to use more intensively because we are going to be able to sell it to other countries,” he said.
Source:
