Pension fund investments bolster the tourism sector with positive effects

Santo Domingo.- The tourism sector has been one of the most benefited by pension funds through the financing of projects and is the third sector of economic activity with the highest number of contributors to the Dominican Pension Systemreported Francisco A. Torres, Superintendent of Pensions.

Torres highlighted that the tourism sector and the pension system are linked by a series of projects that are financed through pension funds, such as the construction and remodeling of tourist infrastructure, development of luxury projects, operation, maintenance and expansion. of road networks, and development of new tourist poles, the most recent being Pedernales.

He reported that monthly about 165 thousand workers in the tourism sector contribute to the individual capitalization system, which represents 8% of the active contributors in the system, contributing to the system with more than 315 million pesos monthly.

The superintendent offered this information at the seminar “Opportunities for the tourism sector” held during the closing of the Asonahores 2023 Commercial Exhibition, organized by the Hotel and Tourism Association of the Dominican Republic, in Punta Cana.

The event, held at The Westin Puntacana Resorts, discussed the multidimensional nature of the tourism sector compared to the dynamics of investment capital sources and the new opportunities they provide to interested investors.

Torres shared the stage with Enmanuel Cede├▒o Brea, Securities Mayor, who spoke “How the Stock Market can Boost Sustainable Tourism in the Dominican Republic; “Advantages and Challenges of the Stock Market”, by Mario Franco, executive director of the Association of Stock Market Posts (APB) and Enrique de Marchena, managing partner of DMK Abogados, who asked: Are there opportunities for the national tourism sector in the stock market?.

Francisco A. Torres assured that the presence of the SIPEN in this scenario responds to the commitment assumed with Asonahores when the inter-institutional agreement was signed to provide them with training on the benefits of the pension system, as part of the strategic plan to bring pension education to all Dominicans. .

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