Six out of 10 people live in informality in the Dominican Republica problem that affects the correct performance of the economy and, therefore, of the region, highlighted Andrés Cadenas, senior partner of the firm McKinsey & Company in Colombia, during his speech at the first executive forum on global transformation based on new commercial, technological and demographic trends, held yesterday in the country.
“He urbanization model generated large cities in Santiago and Santo Domingo, where there is a very good part of the population that does not have access and does not belong to the formal economy, nor to formal companies, nor as individuals to Social Security,” Cadenas told Free Daily.
Cadenas explained his considerations after presenting the study “The world in a new era”, developed by McKinsey & Company and presented in one of the event rooms of the La Bodega restaurant.
He explained that the solution to the new order of social development implies a slow process of investment targeting public and private, and the attraction of foreign capital that adds value in the demarcations.
Sectoral impact
During his speech at the event, in which a select group of executives from large companies in the country participated, he acknowledged that the Dominican Republic has made interesting initiatives with the tourism and the free trade zonebut much is needed in other productive sectors.
As an example he cited educationline in which the government invests 4% of the gross domestic product (GDP), but has directed it towards the construction of infrastructures and the management of the teaching profession, leaving behind the improvement in the educational quality.
“We need to move from the bottom of the Program for International Student Assessment (PISA) to generate a long-term vision of a more educated population”, he agreed.
When referring to the conditions to attract investorssaid that the country cost registered by the Dominican Republic allows companies to:
- Invest
- Take advantage of local labor
- Export
However, he pointed out that it is necessary to strengthen the form of convey legal, local and political stability, which generates a greater feeling of trust in other potential areas to invest.
