DR1 - Writing in today`s El Caribe, economist Roberto Despradel lists the challenges ahead for industry in the DR. He compares the DR to export-based countries like Taiwan, South Korea, Chile and Colombia where growth has been closely tied to increases in exports, in contrast with the DR, where imports are in the lead.
During the Second Industrial Congress held in Santo Domingo on 18-19 April, business leaders focused on the structural problem that is reflected in export numbers and in job numbers. "While in our country, in real terms, the economy has grown at a solid annual rate of 7. 1% from 2005 to 2010, exports have declined by 2. 9% on average", he comments. He says this is in contrast with Taiwan and South Korea that have put exports at the center of their growth strategies. He also mentions that countries like Chile and Colombia have also shown a positive relationship between growth of GDP and exports.
"The timidity of our exports, when coupled with economic growth, is reflected in the deficit of the current account that is increasing at a pace and on a scale that should be considered a national priority," he comments.
He says that the industrial sector has established goals for the next five years that include an increase in exports from US$8. 5 billion to US$20 billion, 200,000 new jobs in the sector, increase in the new industries from 7,000 to 10,000, and increase the number of companies exporting over a million dollars a year from 200 to 500.
Despradel says that a commitment these goals must be taken on by society as a whole, not just the industrial sector and politicians. He says that a healthy manufacturing sector is the best guarantee for national development.
Read original at DR1.
(Posted 03:29 Tuesday by DRSol NewsHound. Viewed 149 times.)