Partnership with Ferdinand Herrera Consultants joins expertise on Dominican Policies with high level professionalism
In yet another move to expand its presence in Latin America, Prospectiva is proud to announce its newest partnership with Ferdinand Herrera Consultants in the Dominican Republic.
Ferdinand Herrera Consultants understands firsthand the challenges that an investor faces when attempting to successfully venture into a new business environment. It is led by Carlos I. Ferdinand who serves as its president and founder. Mr. Ferdinand is an attorney who has worked at Squire Patton Boggs and subsequently Hogan Lovells, serving in their international transaction groups. Additionally, he served as the Director of Corporate Affairs for the Dominican Republic and the Caribbean for Phillip Morris International.
The Dominican Republic stands out for its fast growing economy. With a population of 10.5 million (almost 50% of which is 25 years of age or younger) and an expected economic growth rate of 4.5% for 2016, the DR boasts the largest consumer market in the Caribbean. President Danilo Medina assumed his second term in office in August, and among his priorities is investment in the transportation sector, and regulation of the use of water and other natural resources. Additionally, the government recently announced a new technology driven initiative, Digital Republic, which aims to provide internet to all citizens and increase the teaching of TIC related courses in public schools. The Caribbean nation already plays host to large corporations and major financial institutions, such as AmBev and Citibank. A network of free trade agreements, such as CAFTA-DR favors the position of the Dominican Republic as a regional platform for the Caribbean and Central America.
President Medina has broad support from Congress, which should enable an expedited implementation of these measures. However, measures deemed unfriendly to the private sector could be approved, without much opposition. As in other Latin American countries, a fiscal reform is on the horizon, and more concrete discussions are expected to take place in early 2017. The country is also discussing amendments to its labor legislation, a new energy pact and several other issues, which could impact business in the country. Keeping up to date with the Dominican Republic’s fast moving political decisions and working with a local firm in advocacy strategies is thus critical for all investors and companies operating in the country.
This partnership with Ferdinand Herrera Consultants is part of a greater strategy through which Prospectiva seeks to raise the bar in terms of compliance, transparency and result orientation in policy strategies across Latin America.