FORBES MAGAZINE, Dom Rep is the Worst country in the World to do business in !!!
Dominican Watchdog's 5 year long campaign for the truth about the Dominican Republic, is finally backed up by FORBES MAGAZINE, who last week declared Dom Rep, the worst country in the world to do business in, due to the corrupt Purple government Pigs. No wonder NONE of the big local media has re-posted or mentioned that story from FORBES.....!!!
Jean Alain Rodríguez (A.K.A. "The Snake") and Director of Invest in DR is for sure NOT telling you the whole truth. His and Leonel's roadshows are all about finding the next fool to invest in their country, making it possible for other government officials to rip them off. Its all part of the Big Purple PLD corruption scam plan, and the reason they are the worst country to invest in. There is also a great chance the investor is being killed and shipped home in a Pine box!! More foreingers are now killed in Dominican Republic than in Zimbabwe...., think about that, do you want to pay the ultimate price, YOUR LIFE???
Are you looking for new international suppliers for your company? Or thinking about where to open an overseas office? When you evaluate your international customers, do you care about the stability of their business environment? What about government corruption? If you already have foreign offices, have you checked on the risks of natural disasters like floods and earthquakes in those locations? How sound is the infrastructure there?
For country-by-country shortcut answers to those questions, consider the new “FM Global Resilience Index,” a ranking of 130 countries by FM Global, the 179-year-old international commercial and industrial insurance company based in Johnston, Rhode Island. FM Global’s main business: providing loss prevention services to big companies around the globe.
For the first time, FM Global has put countries through a rigorous evaluation process and produced a publicly available ranking of the places it deems most resilient. Landing in first place is a country that may not be at the top of your list for opening a subsidiary or a factory: Norway (ExxonMobil has operated there for more than 120 years; ConocoPhillips also has longstanding oil fields there). Coming in second is a more obvious choice, given its bank secrecy laws and stable political environment: Switzerland. Canada, with its solid government, oil reserves and well-developed infrastructure, is in third place.
The U.S. doesn’t rank until 10th place and then only a portion of the country FM Global calls Region 3, made up of 26 states in the Southwest, Midwest, the South and Washington, D.C. on the East Coast is in the slot. Other states in the group include Arizona, Illinois, Michigan and Ohio. The U.S.’s region 1 is at risk for wind storms and includes Florida, Louisiana, New Jersey and New York, placing 18th on the list. US Region 1 is made up mostly of Western states like California and Oregon, plus Hawaii and Alaska. Because of those states’ vulnerability to earthquakes, the region scores down at 21 on the list, just behind the United Kingdom and above Singapore.
FM Global’s methodology involves measuring countries’ strength in nine areas, under three rubrics: economic, risk quality and supply chain. It looks at these nine things:
GDP per capita,
political risk including terrorism,
oil intensity, meaning the chance the country will experience an oil shortage,
exposure to natural hazards,
quality of natural hazard risk management, meaning the country’s preparedness to deal with a disaster like an earthquake or a flood,
ability to handle fires,
control of corruption,
quality of the infrastructure,
quality of local supplies
FM Global used the following sources: The International Monetary Fund supplies the GDP data, the information about the oil supply is from the U.S. Energy Information Administration, and the data on political risk and corruption come from the World Bank’s “Worldwide Governance Indicators,” which pulls from 31 data sources. The Global Competitiveness Report, put together by the World Economic Forum and based on its survey of thousands of executives, is the source of the data on infrastructure and local supply chain quality. Finally the data on risk quality like exposure to natural hazards, readiness to manage natural calamities and ability to fight fires, all come from an algorithm FM Global developed to calculate risk at more than 100,000 commercial properties it insures around the world.
There are no surprises among the top 25 countries, which I’ll list below. They’re mostly European—Germany, Luxembourg, Belgium, France, Finland, Sweden, Denmark, etc. New Zealand and Australia also make the list, as do Hong Kong, Singapore and Qatar.
The 25 Most Reliable Countries
United States 3 (26 states with low natural disaster risk like Ohio, Pennsylvania and Montana)
United States 1 (18 states with wind risk like Florida and Louisiana)
Hong Kong SAR
United States 2 (8 states with earthquake risk including California and Alaska)
Which are the least reliable countries? I’ve also listed the worst 25 below, starting with the least resilient. The Dominican Republic ranks at the very bottom of the list. As an island nation in the middle of the Caribbean it is vulnerable to both hurricanes and earthquakes. Also its infrastructure is crumbling and building codes are lax, says Jon Hall, an executive vice president at FM Global. Corruption is a huge problem. The German NGO Transparency International pegs the D.R. at No. 123 out of 177 companies it ranks, with No. 1 being the least corrupt (Denmark and New Zealand are the least corrupt countries in the world, according to the NGO). Venezuela is the second-least-resilient. Like the D.R., it is subject to intense hurricanes and flooding. It also has very poor insurance against fire risk, and ranks even lower than the D.R. on Transparency International’s list, at 160.
FM Global collected the data for the list in 2013, so it doesn’t reflect some of the world’s most dire recent developments, like the violence and political upheaval in Ukraine, which ranks at No. 76, behind a region of China (like the U.S., broken up into three groupings) and above Senegal. Next year Ukraine is likely to have a lower rank.
The 25 Least Reliable Countries
One caveat: FM Global’s list doesn’t include some of the least stable, most disaster-prone countries in the world, like Haiti, Syria, Sudan and Congo, because FM Global couldn’t gather enough data about those places. Rwanda, an increasingly stable place to do business, is also missing. There are some 196 countries in the world, depending on how you count them (that includes Taiwan, which some countries, like the U.S., don’t recognize as independent states), so the list is missing 66 of them.
One example Hall gives of a country that would have been helped by such an index: Japan, which had many of its backup manufacturing operations in Thailand, when severe flooding hit in 2011. Major Japanese corporations like Honda, Toyota and electronics maker TDK got hit hard. Cannon, Nissan, Hitachi and Toshiba Corp all had to stop production because of the floods. “In Thailand they had built facilities in flood plains, and major floods went on for six weeks,” says Hall. “This index is trying to help people understand where the risks are.” Thailand ranks at 62 on the FM Global list.
Learn from others, Don't invest in the Dominican Republic!!! - "All in all, a very positive development for the company and for our shareholders" - CFO Donald Grimes, further said "This strategic decision is based on both the benefits of sourcing from larger, more efficient producers and by our desire to focus on our core competencies of creating innovative products and building enduring global lifestyle brands,"......
By Royle Smith / A true story about why you should NEVER invest in DR.
Click on link above to read his personal letter to Dominican Today!!
When I’ve first arrive in DOMINICAN REPUBLIC, they told me “WELCOME TO PARADISE” and I thought: it is PARADISE! I just felt in love with it! I made just one mistake, TO INVEST IN DOMINICAN REPUBLIC....!!! MILLIONS OF DOLLARS LOST...!!!
Maplecroft’s in-depth Country Risk Report on the Dominican Republic offers high-level analysis and maps of the governance framework; the regulatory and business environment; political violence; human rights; and the environment.
Corruption remains pervasive in the Dominican Republic, with irregularities, bribery and other corrupt practices a particular risk when dealing with public administration agencies and officials. The current administration is perceived to be permissive of (if not complicit in) this environment. Companies are exposed to high levels of corruption, both through their local supply chains and as they engage in governmental contracts. As a result, foreign investors face legal, reputational and financial risks if allegations of corruption emerge in relation to their dealings with officials or local partners and suppliers.
Rule of law is not effectively enforced and poses serious risks to foreign companies and investors operating in the country. The main hindrances emerge from the ample power of the executive branch, widespread corruption in the public sector, and the politicisation of justice. Foreign companies face significant uncertainty when dealing with the judiciary. They could potentially be at risk of unfair proceedings in the judicial process, as irregularities and undue influence from other branches of government take place, often with impunity. In addition, weak rule of law prevents companies from relying on the enforcement of contracts and on the enforcement of dispute settlement.
Don't invest in the Dominican Republic, Who is the next investor to get fucked in DR??? A representative of the Public Works Ministry - escorted by a group of soldiers - expelled Codaxa's staff from the San Pedro de Marcoris - La Romana highway tolls. The Spanish company supported by their embassy, hope that the new president Danila Medina will correct the illegal behavior of the outgoing government headed by Leonel Fernandez......, Good luck with that!!
- The Spanish hotel chain Grupo Barceló on Wednesday joined a growing choir of foreign companies which have complained of a lack of requested legal security for foreign investment, just two months after a similar complaint by the Ambassador from the United Kingdom.......
And the British ambassador slams the country on lack of investment security and cited a company he said recently shut its doors after being extorted..... (UPDATE) - Dominican business leaders rally behind the UK Ambassador..... (Update 2) - High court to probe judge’s possible link to UK Ambassador’s extortion claim....
Arturo del Tiempo, Torre Atiemar and 1200kg of cocaine sent from the Dominican Republic to Spain is the probably just the top of the iceberg behind the recent years construction boom in Santo Domingo. What's more interesting is that President Lionel Fernandez has stated that this project was a model for foreign investments in his country.......
INVESTOR WARNING - Major League Baseball player Julio Lugo, swindled out of RD$50.0 million (US$1.2 million) in the Dominican Republic. “This sends a bad message not only to Major Leagues players, but also to foreign investors afraid of investing their money in the country, fearing that what happened me can happen to them.” He said.....
The head of the East Region Hotels and Tourist Projects Association yesterday called the Higüey (Punta Cana and Bavaro) Titles Registrar “disorder and mafias” which creates uncertainty, threatens and scares away foreign investment......
Dominican Watchdog Note: This is just a few cases, there are hundreds of investment fraud cases in the DR and foreign investors are not likely to ever see their money again - Over USD 2 Billion gone from Investors in Punta Cana area!!!
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