In the midst of continued spectacular growth, despite the profound economic crisis affecting its most important commercial partners, the Dominican Republic offers a clear case study of how smart and timely legislation can contribute to fostering local businesses, attract foreign investment and strengthen both private and public institutions.
This year Dominican lawyers report an increasing number of new firms
in the market, with one noting: "New firms are being born out of the
recomposition of the market." The clearest examples being DR&R
Abogados y Consultores Fiscales, set up by two former Pellerano &
Herrera partners Norman De Castro and Luis Rivas and Bobadilla Abogados,
formerly known as Grisolía & Bobadilla....
CONTEXT AND TRENDS
In May 2012, ruling party candidate Danilo Medina won the presidential election in the Dominican Republic. Although there was a slow-down in economic activity prior to the result, lawyers agree that the outcome has given "some peace of mind to a lot of people," considering the new president is "the previous president's wing man" and that the "same economic lines are going to be followed by the new government"....