Indomina Group, Banco del Progreso and Alpha Securities announced the operational debut of a series of products designed to help seize to the maximum the new incentives offered by the Film Law and promote the development of the inland film industry.
So expressed Antonio Genari, Mark Silverman and Santiago Camarena; executives from all three companies respectively, during a workshop hosted in the Santo Domingo Hilton Hotel, which featured the attendance of financial operators and large-scale taxpayers of the Dominican Republic.
Indomina showed their Strategic Financing Unit (SFU), through which it offers film producers financing solutions for deficits f up to 40% of their production budget.
While Banco del Progreso and Alpha Securities explained the myriad opportunities investors have of gaining tax credits through discounts attained with these financial entities, as well as other options taxpayers can access to seize the Film Law for greater financial profitability, at the same time they promote the development of the national film industry.
Also present at the workshop was Film Commissioner Elis Pérez, attorney Leonel Melo and financial analyst Alejandro Fernández, whom also shared their views from within their field of expertise, all aspects to take under account for Dominican businessmen and/or foreign investors to take advantage of the Law to the fullest. “Thanks to the natural conditions and local artistic talent, asides the tax incentives offered by the Film Law, the Dominican Republic is able to surpass other film production destinations within the region” said Fernández during his dissertation.
The meeting served as a networking tool among taxpayers and investors, filmmakers and service vendors, sponsoring the environment for different actors to seize this Law to its full capacity, which will translate in greater inland development, wealth generation and job sources, as well as injection of foreign capital.
Indomina is a company in the Real State and Tourism portfolio of assets managed by VICINI.
The VICINI family has invested in different economic sectors in the Dominican Republic for over 140 years. VICINI is one of the companies that has contributed significantly to the development and industrialization of the country.
Source: Listin Diario