UN General Assembly
2007

Since we took the reins of administration in 2004, the Dominican Republic has managed to recover the confidence of investors and entrepreneurs. We have been able to reactivate economic growth. We have been able to reduce inflation. We have increased jobs and improved social conditions and quality of life for the Dominican people. However, exactly when we began, just like the phoenix rising from its own ashes, a gloomy international picture threatened to darken our prospects for future growth. In recent weeks, for example, the price of oil on the international market has reached an unprecedented rate, and projections point towards continued increases. These price increases are asphyxiating our economies. Similarly, in recent times, as a result of changes on the international stage, free zone companies in the Dominican Republic, alongside those in Mexico and Central America, have been losing their competitive edge to Asian countries. This drop in competitiveness has resulted in the loss of jobs, production stagnation and a shortage of new investment. Moreover, while the price of oil is rising, and