Former Colombian President Iván Duque highlighted the importance of tax incentives for the growth of creative and cultural industries.
Duque, who will be in the Dominican Republic to give a keynote speech at the Orange Caribbean Forum on Tuesday, October 1, stressed that incentives must be considered more for the benefits they generate in terms of investment, job creation, market development, and sustainable and scalable income generation for the country than for the expenditure.
The former Colombian president addressed the issue during an interview on the program El Despertador, broadcast by SIN, regarding the possibility that the local film industry will stop receiving the incentives contemplated by the Film Law, as a result of the tax reform currently being discussed.
“It is very difficult to develop a film industry today in the world without incentives, among other things because the big competitors all use incentives, all of them. Even the markets of the most developed countries have incentives for this industry,” he said.
In this regard, he cited as an example the experience of Colombia, during his presidential term, when his government implemented a series of fiscal measures that included a 40% discount for investments in series and film productions, which allowed the country to go from receiving investments of 10 to 30 million dollars annually to more than 300 million in 2022.
The former president stressed that the benefits are not only reflected in direct income, but also in job creation and the development of local talent in areas such as makeup, production, editing, production and dubbing, among others.
“I do not yet know the texts of what has been proposed in the Dominican Republic, but knowing also the sensitivity of President Abinader on these matters, I would think that he, who has also given much importance to the work carried out by the Minister of Culture, I imagine that for the Dominican Republic it is much more important to have the incentive than not to have it. And the best justification is not so much on the income side as on the side of the externalities that this can bring in terms of employment, investment and productive linkage,” said Iván Duque.
RD: the orange opportunity
Iván Duque highlighted the opportunities that the Dominican Republic has to consolidate itself as a hub for the orange economy in the region by being able to combine the artistic talent of its population and the natural resources it possesses.
“I believe that the Dominican Republic must see the orange economy as one of its priority areas for growth and also for strengthening its ties with the world,” said Duque, arguing that if the country sees itself as an orange opportunity, this industry could become as important as tourism.
By reaffirming that the Dominican Republic has it allsaid that it has the potential to integrate its rich cultural offering with its tourism industry, creating a robust and competitive creative sector.
In addition to its natural beauty, he highlighted its solid infrastructure and strategic geolocation, due to its proximity to markets such as North America and Europe, among its advantages.
The former president explained that the orange economy goes beyond the film industry, encompassing sectors such as music, art, theater and gastronomy. The key to taking advantage of this potential lies in what Duque called the “seven i’s” of the orange economy: information, infrastructure, institutions, industry, integration, inclusion and inspiration.
He said that the Dominican Republic has inexhaustible talent, especially in music, and that it could become an attractive destination for audiovisual production in the region.
About Ivan Duque
Iván Duque has been a strong promoter of the orange economy since before his term in office in Colombia. His interest in this sector began in 2012, when he took over the leadership of the Culture, Creativity and Solidarity Division of the Inter-American Development Bank (IDB). From that position, he promoted research and publications that demonstrated the economic weight of the creative industries in Latin America.
In 2013, he co-wrote with Felipe Buitrago the book The Orange Economy, which became a key reference and the most downloaded publication on the IDB platform.
During his government in Colombia (2018-2022), Duque implemented tax incentives and policies to strengthen this sector, focusing on empowering local talent, integrating culture with the economy and generating sustainable growth in the creative industries.
Orange Caribbean Forum: “Exporting creativity made in the Dominican Republic”
The Orange Caribbean Forum is an initiative aimed at raising awareness and placing on the public agenda the issues that address the Orange Economy and Creative Industries in the country and the Caribbean region, highlighting the different actors that make up this sector and its important contribution to the economy and, above all, the direct impact on the quality of life of communities.
This year the Forum addresses the topic “Exportation of Creativity made in the Dominican Republic” with the aim of continuing the conversation around this sector that diversifies our economy, creates quality jobs and positions the country as the hub creative Caribbean, promoting sustainable economic development that attracts foreign investment and strengthens the image of the Dominican Republic globally.
This year, the event is sponsored by BANRESERVAS, Banco Popular, AES Dominicana, the Chamber of Commerce and Production of Santo Domingo, ADOEXPO and the Development Bank of Latin America and the Caribbean (CAF).
For more information and to register for the free live broadcast of the forum, you can contact the website https://forocaribeahora.com/
Orange Caribbean
Caribe Naranja is a platform made up of three projects that are developed throughout the year. In addition to the Forum, it also includes La Silla Naranja, a seasonal series that aims to give visibility to different actors who belong to the country’s creative and cultural industries, who through their visions and stories demonstrate the potential that our country has to continue positioning itself as a creative reference in the Caribbean.
The third project is Orange Connection, which consists of specific discussions that facilitate the exchange of ideas, with the participation of experts and personalities from different sectors of the creative industry, who share their visions and experiences.
