Through Decree 724-20, the President of the Republic, Luis Abinader, ordered the incorporation of Pro-Pedernales; a public trust with the aim of executing the necessary infrastructures for the tourism development of that province.
The provision indicates that the tourist pole of the southwest region presents an opportunity for the social and economic improvement of the inhabitants of the southwest region of the country, which in turn represents a space for the promotion of private investment and the creation of decent jobs.
The incorporation of this trust means the promotion of the tourist development of Pedernales, facilitating the promotion of solutions implemented by the State, as part of a set of public policies focused on the sustainable development of the border area.
The decree also prioritizes trust schemes and public-private partnerships as investment mechanisms, which involve the participation of the public and private sectors in the development of sustainable tourism, identifying it as a national need and a way to improve the economic conditions of the area and the country.
Decree 724-20: Pro-Pedernales
According to the document, the Dominican State, as part of the PRO-PEDERNALES Trust, will act through the Agency of Public-Private Partnerships as settlor and trustee, respectively; and on the other hand, Fiduciaria Reservas, S.A., will act as the fiduciary, which will allocate the equity funds for the operation of the project.
It specifies that the Pro-Pedernales Trust will have a term of 20 years, except for an extension by mutual decision.
An administrative committee will coordinate the work to execute the project, which will be made up of the Minister of the Presidency, as president; the ministers of Treasury; Tourism; Environment; Public Works and Economy, Planning and Development.
The Legal Consultant of the Executive Branch and the executive director of the Agency of Public-Private Partnerships are also part of it, the latter as secretary.
