"Tropicalia: New Center for Socio-Economic Progress for the Dominican Republic"

Ladies and Gentleman:

Like my father, I too feel obliged to begin by expressing my gratitude for the double opportunity I’ve been awarded. I say double because, in addition to how important it is for me to speak to you about Tropicalia, a business, social and ecological project, of which I am proud, as a person it is an invaluable experience, one that I will find difficult to forget in the future, to stand before a group of true entrepreneurs in this privileged setting that the American Chamber of Commerce of the Dominican Republic has provided.

And here, holding you as witnesses, I want to say that Tropicalia was conceived and designed under the business and social parameters received through the guidance that Gustavo Cisneros, has always represented for me, and for hundreds of executives and employees that have made a life at our organization.

Today, if I were to express in one sentence what Tropicalia is, I would say it is an effort to contribute to the development of the Dominican Republic, under the solid parameters of productive activity that from its very inception proposes a project with systematic social content and respect for the environment.

Tropicalia is a mobilization of conceptual, financial and human resources in order to contribute to the Millennium Development Goals, but more importantly, to bring to Miches, to their specific needs and aspirations, solutions that bring them closer to better social, developmental, community, economic and environmental development. I insist on this: Tropicalia is unthinkable without its ecological and human dimensions. It cannot be understood if it is perceived as isolated from its social objectives.

Tropicalia is a model of sustainable tourism on the lush eastern coast, bathed by the Bay of Samaná in that beautiful place called Miches, in the Province of El Seibo. It proposes responsible development of low impact, and hopes to position itself as one of the top tourist destinations in the Caribbean.

With a total investment of approximately US$2 billion, Tropicalia aspires to become a dynamic force in the economy of the region, with an initial contribution of $485 million during the first 3 years and from that time through the next 20 years, $1.5 billion additional dollars. The end result is measured in the generation of 3,000 jobs in the short-term, 6,000 medium-term and 14,000 long-term.

Our motivation, the force that has driven us, has been, is and will be to make Tropicalia a touristic development based on sustainable, viable and equitable criterion with regard to economic and social development. And also, comply with the paradigm of being culturally inclusive.

What are our aims, what do we need to meet these objectives? For communities to give us the social license to operate and be willing to grow with the project. We need to add the goodwill of investors, local and national authorities; suppliers of goods and services and, above all, that communities become the permanent engine of progress.

The management of Tropicalia is based on a philosophy of preserving the natural and cultural environment, in making communities in the area prosper, while adding to the rich experience of the Dominican Republic new possibilities in the field of sustainable tourism.

To achieve these lofty goals, Tropicalia has gathered an emblematic team representing the highest professional quality existing in Latin America, which includes among others, the contributions of the Brazilian corporation Odebrecht, the People's Bank of the Dominican Republic, companies such as Auberge Resorts, Ernst & Young and the Cisneros Group.

Following the path established by my parents, we have initiated a strategy to integrate the educational programs of the Fundación Cisneros, in close alliance with the authorities, with private business and, in particular, with communities, creating from these partnerships new programs whose executive arm is the Fundación Tropicalia.

Working together, the Fundación Tropicalia has initiated social, environmental and economic programs which have contributed significantly to the prosperity of El Seibo and offer these communities the chance to be part of a sustainable development project.

Socially, we brought the educational programs of the Fundación Cisneros to Miches, already described by my father, and based on the needs identified there, we created a School Renovation Program which rescues the school infrastructure and makes it more conducive to teaching and learning.

We are very proud to have renovated 3 schools in just one year, favorably impacting the performance of nearly 1,500 students and 30 teachers. I want to acknowledge that this endeavor was converged by the efforts of various institutions and enterprises, the unconditional support of Dr. Melanio Paredes, the Secretary of Education, INDOTEL and Banco Popular.

We have also introduced the Digital Literacy course for teachers to Miches, which has been very successful in training teachers in the subject of information technology tools. This course, in addition to the benefits it provides in itself, gives rise to another possibility: it is an essential tool for everyone to access the range of courses offered by AME.

The sustainability of the environment is one of our priorities; hence the Fundación Tropicalia advances in the design and promotion of training workshops on organic agriculture to improve land use, sustainable agriculture and agricultural biodiversity. Added to this is a program for managing solid waste and recycling for the town of Miches. This, we hope, will lead to the establishment of a center for separation and recycling of solid and organic waste and community ownership and management, which will provide new job opportunities for residents in the area.

Realizing the importance of economic projects in social development, we have also created alliances with the microfinance institution FONDESA, to promote independent industries in the services, and trade and consumption sectors, facilitating access to microcredit, offering banking alternatives and formalizing the process of granting loans to the Miches community. This agreement also supports the creation of organic farming cooperatives to serve the tourist resorts of Punta Cana, Bávaro and Samaná.

In just a few months, our microfinance program has introduced more than 6 million pesos into the local economy, providing 170 micro loans that have strengthened business and employment. I would like to emphasize the strong participation of women in the context of this agreement, who have received 58% of the financing. A total of 200 jobs have been generated, and over 700 families in the region have benefited directly or indirectly from the program.

The positive impact of our programs in Miches is unequivocal. Taking them to the community and putting them into operation has been an unforgettable learning, traveling and personal growth experience for me and all the members of my team.

The Fundación Tropicalia work has put us in touch with the everyday life of these communities, with the sensibility of so many people. It has been exciting to witness how enthusiastic and involved they are in building their future.

We are encouraging the appreciation of local culture and natural environment, and preparing the communities to properly receive tourism in cooperation with the mission of COPDES and the Office of the First Lady, both participants in achieving the Millennium Development Goals.

Today, more than ever, we are convinced of the value, effectiveness and relevance of the tasks we perform, and are aware that much remains to be done. The magnitude of the challenges we face and what we have achieved is a step in the right path.

But, paths are built step by step and the key point is that to design and implement them, so as to meet its mission and endure, it is essential that the effort respond to a well-conceived strategy and a humane relationship with the environment. That is why our corporate governance takes place within a clear framework of principles and responsible actions in the social, cultural and environmental issues, always within the premise of a deep respect for the environment and a sustained humane commitment.

I want to thank you all for your time and attention in hearing words that put emphasis on sound principles and considerable confidence in the future. When we see the potential that lives in our villages; when we see the willingness of the business sectors to develop projects of social and ecological vocation; when we see the attitude of hundreds of thousands of professionals throughout the continent preparing to be better professionals and better people, I have no doubts: a better future is being built in Latin America, but especially in the Dominican Republic.

Thank You.