The study proposes planning and economic projection capacities should be promoted, fostering greater diversification of trade and fostering innovation.
August 3, 2020. Santo Domingo. RD.- The National Competitiveness Council, the Ministry of Industry, Commerce and MSMEs together with the representatives of the Organization for Economic Cooperation and Development (OECD) held a virtual event to present the results, advances and key issues of the revision of the Production Transformation Policies (PTPR) with a view to promoting national productive development.
This analysis highlights the reforms that as a country have been developing, among which are the digital agenda, through the Digital Republic Program, as well as the implementation of various platforms and online services for administrative procedures.
During this presentation of results socialized through the Zoom platform and Facebook live of Competitiveness and with the participation of the members of the Council and representatives of the public-private sectors, the efforts to strengthen the quality infrastructure were highlighted, through the Dominican System for Quality, so necessary to compete in international markets with the highest standards.
The study shows that the Dominican Republic needs to pursue three goals: Strengthen its governance capacity to anticipate and adapt to change. National leadership needs to assess future work and ensure coordination and consultation with stakeholders.
Diversify your trade and investment base and increase your regional economic ties. The country should align its Direct Foreign Investment (EDI) policies with the national development strategy, complementing its incentive packages with tools aimed at increasing local industries.
Stimulate innovation by filling institutional gaps and mobilizing long-term financing. The country needs an agile, small innovation agency with a clear allocated budget.
Zoraima Cuello, executive director of COMPETITIVENESS, expressed: “today more than ever before the global pandemic of COVID 19, this review of the transformation policies of the Production of the Dominican Republic (PTPR), is of great relevance so that the country can redesign and implement better and innovative public policies on productivity”. Furthermore, "... the challenge is to update the national development model, through reforms that allow us not only to overcome the crisis generated by the pandemic, but also to reach levels of inclusive and sustainable economic development," Cuello emphasized.
On behalf of the Ministry of Industry, Commerce and Mypimes, Juan Monegro, Vice Minister of Industrial Development, said that “this study provides well-qualified intelligence of what is happening in the DR, why it is happening and how to take steps forward. It is pertinent for the country to receive the results right now in the initial year of the 1920s, a decade that could possibly be described as a new era of industrial development, an era of global productive transformation”.
Annalisa Primi, head of Structural Policies at the OECD, highlighted that “this study presents how to face the future, how the country can open up new opportunities”, she pointed out that “the PTPR is a tool that allows us to work with countries, learn from them and detect opportunities”, she pointed out that “the Dominican Republic is the country that has grown the most economically in the region, they have new investors, new international relationships”.
The results also outline that the country needs to reduce dependence on a single market, manage complex trade chains, strengthen regional ties, and promote itself as a reliable, high-quality trade and manufacturing partner.
The OECD mission in charge of carrying out the multidimensional study worked for eighteen months, with two missions in which two round tables and 30 bilateral meetings were held with representatives of the public, private and academic sectors of the country, addressing issues on public policies. , access to public services, changes in business models, access to financing, institutions, sustainable growth, the environment, among others. ECLAC and UNCTAD provided support during the review and analysis process.
To know the results of the study on the Review of the RD Productive Transformation Policy, enter the portal www.competitividad.gob.do