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Wednesday, February 16, 2011

Major Film Studios to be Built in Dominican Republic

The construction of Pinewood Indomina Studios, the largest of its kind in the region, will begin in the Dominican Republic's capital on February 23rd.

Industry sources said the studios would be built by the Vicini group, in association with the British company Pinewood.

The infrastructure is expected to be completed in 18 months, with the help of a draft law to provide incentives to the film industry, submitted to Congress by President Leonel Fernandez in 2010.

The law would grant tax deductions to companies that invest cash in Dominican feature film projects.

The law would also provide for a fund to promote the film industry, with money from 14 sources, including funds from the national Treasury from taxes on movie ticket sales and DVD rentals and sales.

The experience of Puerto Rico, which passed an incentive law for the film industry, attracted international actors for the filming of films, with a consequent positive economic impact on the island, according to Hoy newspaper.

Source: Escambray

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