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Conep: entrepreneurship was key in the country’s recovery

Conep: entrepreneurship was key in the country's recovery

During the celebration of the National Day of Private Enterprise, the businessman and president of the National Council of Private Enterprise (Conep), Peter Bracheindicated that the post-covid economic recovery of the Dominican Republic is largely due to the shared vision of the sector in contributing to sustainable development.

Brache said that the unity and initiatives of the private sector have made it possible to obtain greater strength amid the effects of the coronavirus pandemic. COVID-19 and now the war in Europe.

“This social contract, which sometimes goes unnoticed or that we take for granted, is, however, the great secret that has allowed our economic recovery to be faster than that of many countries in the region, that employment levels have recovered, and that we don’t have to talk about a shortage of products in our grocery stores and supermarkets”, he claimed.

During his speech at the celebration of the National Private Company Daywhich was attended by President Luis Abinader, Brache recognized the value that has meant the fact that, both workers and businessmen and civil society, have preserved the common good and the economic and democratic stability of the country.

There, President Abinader congratulated the Dominican business community for their contributions to the country and stated that he is convinced that economic development is achieved when there is a strong alliance and unity of criteria between the Government and the productive sector.

Business contributions

The president of Conep He recalled that in the country there are about 100,000 employers registered in the Dominican Social Security System (SDSS).

“That is to say, he explained, that 100 thousand companies have generated more than one million six hundred thousand direct and formal jobs.”

This is how he pointed out that the commitment to national interests and made reference to the study “Private sector as an engine of growth in the Dominican Republic” of 2017, which reveals that the private sector contributes 85.7% of the investment made in the country.

In this way, he stressed that for every 100 pesos that were invested in the Dominican Republic, in its growth and development, “more than 85 are contributed by businessmen who believe in the country and are committed to it#.

“At the same time, we contribute 75.3% of the tax taxes collected by the DGII to the economy,” said Brache.

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Main space of convergence

According to an institutional note, the Conep established that it reaffirms itself as the space of cohesion of the private sector of the Dominican Republic with some 56 associations and 69 companies with a shared vision of contributing to the sustainable development of the nation, through private initiative.

to the event, for National Private Company Dayheld at the El Embajador hotel, was attended by representatives of the Government, businessmen, the diplomatic corps, civil society and the renowned speakers international Ricardo Hausmann and Moises Naim.

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