Given the concern of various sectors about the application of the figure of the trust in the Dominican Republicinternational experts consider that it cannot be demonized because the escrow “it is not good, nor bad”, but it all depends on the use that is given to them.
“He escrow it is neither good nor bad. I would say it’s good. Because? Because it is a solution to many things, but if people don’t know how to use it, if we don’t have, for example, trustees professionals, if we don’t have good projects, if we don’t have good legislation, if we don’t have good control mechanisms, things may not work well,” said Jorge Porras Zamora, a Costa Rican lawyer.
Zamora, with more than 20 years of experience in the trust sectorpointed out that the concern should be how to perfect the use of the figure.
“He escrow It is a tool that comes to support, to assist the State in the development of certain things. What things? What the State considers is where this figure can contribute the most. Whether on highways, airport infrastructureports, health, among others,” he said.
He stressed that there are many success stories in different countries, where the State is the promoter of development through this figure. For examplehe explained, in the Tourism sector.
He added that Mexicospecifically cancunall that is called the Rivera Maya; Huatulco, Los Cabos, “all this was done through the escrow”.
Zamora offered his statements when visiting the facilities of Free Daily along with Juan Carlos Peralvo Molina, lawyer and former director of the Association of Fund Administrators and Trusts of Ecuador.
Peralvo pointed out that the Dominican Republic You can take the good results from other countries. “It is a proven figure that has worked in other countries. What is there to take from those other countries? The controls”.
He pointed out that the escrow builds trust between the two parties so that each one can tend to achieve the objectives.
What has been done through the trust in Ecuador?
The lawyer and expert in trust issues said that in Ecuador 15 trusts were created to develop the Quito Airportwhich had an investment of almost 1,500 million dollars.
Also, there was a escrow to finance the Quito Subway. “In other words, underground transport, from what is almost operating today, in one or two months it can be fully operational. It is a work of 3,000 million dollars”.
Peralvo said that the development brought about by the creation of these important works that mean billions of resources could not have occurred. without escrow.
“It would have taken longer and we probably would have continued in the count to reach an international count that reaches the Ecuadorian government, towards municipalities in need of sovereign guarantee. That is, long and complex processes… and, therefore, we are still waiting for them to be done,” he said.
He said the trust figure It has made it easier for the works to be carried out faster, better, with transparency, with many controls, satisfying the interests of the State and its different instances before investors, but, above all, attending to the needs of the people.
He further explained that “the public trust That is what it is used for: to allow works, projects, infrastructures to be developed, of all kinds, with a combination of national or foreign capital”.
In addition, he said that there have been hydroelectric plants.
Zamora added that the escrow comes to make things easier using it intelligently.
