Santo Domingo.- Research paid by the Indomina Group found that the Dominican cinema industry would spur investments of US$375 million in five years and create 24,000 high quality jobs in different sectors.
Indomina vice president Anthony Smith said the economic flow would be from the production of at least 10 films per year, with an average investment of US$7.5 million on each.
“Evidently the national reserves will increase extremely with this impact and the country would have a high import of capitals,” the executive said, noting that the figures a based on a hypothetical framework designed with Great Britain and New Mexico, and the United States as a reference.
Speaking in the forum “Cinema Law Investment Perspective,” Smith affirmed that the incentives created in the legislation have already begun to spur important foreign investors, for which if the norm is applied as it has been planned thus far, still needs to be seen.
The expert based in Los Angeles said he’s confident that opportunities will be derived from an early development of that business in Dominican Republic.
Smith was accompanied by Juan Vicini, of Indomina Group; Manuel Corripio, of the Corripio Communications Group; Ricardo Hazoury, of the resort grop Cap Cana, and noted film producer Alfonso Rodriguez.
