By TAMARA McKENZIE,Guardian Staff Reporter
SANTO DOMINGO, Dominican Republic - Manufacturers of clothing, textiles, furniture, cosmetics, and craft, various Dominican businesses were on hand Monday to woo the scores of Bahamians visiting the island over the weekend.
The Bahamian contingent, comprising mainly of business owners and budding entrepreneurs, were taking advantage of the four-day "familiarisation" trip to Santo Domingo hosted by Bahamasair. The trip was also geared toward those interested in importing goods for their businesses from Santo Domingo at a much cheaper rate than in Florida and other U.S. destinations.
Various Dominican businesses set up information tables in the conference room of the Barcelo Lina Hotel to speak one-on-one with prospective investors. The businesses included Maralex Trading, a company that brokers insurance, food, jewelry, clothes, layers, and cosmetics; the makers of Finely hair products; Uni Pac Ltd, a company that manufactures faucets, lights, boxes, and shopping bags; Capcana Developers; Atlantica Developers; MK Laboratories; and Breezes Resorts.
Presently, the exchange rate of the Dominican Republic is US$1 to 32DR (Pesos), and as soon as definite plans are in place to ensure that goods can be safely transported to the capital, Derek Moxey would be one of a number of Bahamians tapping into Santo Domingo's market.
Working toward opening a resort in Farmer's Cay Exuma, Mr Moxey said he was drawn to Santo Domingo in search of cheaper building materials and furniture for his resort.
"There is a whole lot of stuff that I see here that Bahamians can get into, especially in the construction area. There is a lot of building material that is much cheaper when compared with the United States. I have also seen PVC (pipes), locks, and wood that I would not mind taking advantage of," he said.
Mr Ralph Hanna of Polaris Builders in Freeport, Grand Bahama, said if the Dominican Republic were more accessible to Bahamians, more people would take advantage of the its many products. "Because their dollar is not as strong, it makes their prices a whole lot better than the U.S., even after adding shipping costs," he said.
Mr Larry Forbes of Lucayan Construction told The Guardian that last weekend was his first visit to Santo Domingo in search of building supplies. He stated that the island has the supplies and he now needed to find a way to have construction products shipped to the capital. "Any savings is worth it," he said. However, it was reported in Santo Domingo that a company known as Coralee was already importing products to the capital at Arawak Cay.
Owner of SRI Roofing, Mr Felix Major, said he was very interested in the Dominican products promoted, especially those offered by Uni Pac Ltd, a company that manufactures tiles, lights, and plumbing faucets. Mr Major said on several occasions he had imported tiles from businesses in Santo Domingo, which were much cheaper than US prices. "I have ordered stones, patio tiles, indoor tiles, as well as gypsum blocks from the Dominican Republic."
Mr Francisco Almanzar of Uni-Pac Ltd said the company presently ships its goods to Hong Kong, China, Brazil, New York, Las Vegas, Italy, and Mexico; therefore, adding The Bahamas to its portfolio would not be a problem if all shipping details can be worked out.
Mr Fred Wright, owner of Bahamas Fire and Safety said he was in Santo Domingo seeking products he could use in the industrial field, while Mr Jeffrey Beneby, a chartered accountant at Beneby and Co, said he often assists his clients with working out business deals to purchase materials such as furniture and clothing in Latin American countries.
"In The Bahamas, there is always a demand for other products, but because of the language barrier with Bahamians not being able to speak Spanish, I step in and lend my assistance and find ways to liaise with businesses."
"There are tremendous opportunities for Bahamians in the Dominican Republic and doing business is cheaper. If the volume is there, the cost will go down," he said.
On the Dominican Republic side, Olga Vasquez of Maralex Trading in Santo Domingo, expressed that the company, which presently brokers food, jewelry, cosmetics, could offer The Bahamas food, meats, vegetables, clothing flowers, and several other products that could be introduced to the Bahamian market. "We seek out prominent producers, provide different services and merchandise with the best low prices, and you will see how you can get the best results for your business," Ms Vasquez said.
Rosa Fernandez, Sales Representative of Finely cosmetics in the Dominican Republic, said the company presently provides its hair products to 70 per cent of countries on the east coast, and they now want to offer its services to other islands in the Caribbean. The company also ships products to countries in Europe, South America, Puerto Rico, Spain, Italy and France. "We are also a world-wide broker, and our main office is in Miami and we will soon open an office in Spain and Europe," Ms Fernandez said.
Boasting the largest Marriott marina in the Caribbean, Loreta Oritz of the CAPCANA resort in Punta Cana, said the owners of the resort, the Hazoury family, wanted to expand into other islands, particularly The Bahamas. "We would not mind possibly investing on one of the islands in The Bahamas. Right now, we have three signature Jack Nicklaus golf courses, as well as condos and lots for sale," Mrs Oritz said, adding that the company would like to increase its Caribbean clientele. The starting price range of the CAPACANA resort condos is $300,000.
Other representatives at the business forum in Santo Domingo included Atlantica Real Estate, Breezes Resort, Maison Gautreaux Hotel Guest House, and St Tropical tours.
