Díaz urged to increase public investment, whose figures are very low and is what would most stimulate the economy
Economist Magín Díaz said that mining can help complement public finances and support the increase in investment that the country requires.
Commenting on the creation of the Dominican Mining Company, SA (Emidom), for the exploration and exploitation of mineral resources, particularly rare earths, Díaz said that the Government is betting on mining, which must be responsible and compatible with the environment.
“In a country like ours, mining can complement public finances very well. Because mining pays a lot of taxes. So in the long term it would help.“, he said. He stressed that the fruits of Emidom would be seen in the long term since mineral exploration takes time and is expensive.
He said that it is common in many countries that the mining exploration part is in the hands of the Government and in Latin America in most cases the companies are state-owned, as in Mexico.
Díaz added that the Government has been ambitious in seeking to grow the economy more, but stressed that this requires a set of reforms, including public finances and improving the quality of spending. He also pointed out that what can help the most is increasing public investment, the figures for which are very low and there is a need for infrastructure.
