Santo Domingo.- President Leonel Fernández says that although 2009 may bring many challenges, "Dominicans will emerge victorious thanks to the climate of peace and the investment projects in the pipeline".

He said that while many were predicting that the country was close to the edge and on the verge of an apocalypse, the country would rise to the challenges of the coming year as a result of dreams and hope.

The president made these statements during the groundbreaking ceremony for the Punta Perla project on the east coast of the country. The project involves an investment of US$5 billion and will create 20,000 direct jobs in its first phase. Also present at the event were Albert II of Monaco and project president Ricardo Miranda.

Fernández said that the project at Punta Perla, together with others that are under way, will weaken the effects of the economic crisis that is affecting the rest of the world.

"Thanks to the power of dreams and the power of utopia, today we are able to host the prince of Monaco and to formalize an interchange agreement between Monaco and the Dominican Republic", said the president.

Ricardo Miranda thanked president Fernández and his government for supporting the investment. He said that the first phase would involve the construction of a beach club, the first boutique hotel, the marina and the first golf course. The first hotel is expected to open next year. Punta Perla will also include 1,082 residential units (villas and apartments) and a range of commercial premises. Also present at the ceremony were Labor Minister Max Puig, Public Works Minister Víctor Díaz and Tourism Minister Francisco Javier García.

DominicanToday.com, 30 December 2008
http://www.dominicantoday.com/dr/tourism/2008/12/30/30583/Dominican-president-and-Prince-of-Monaco-launch-project