2. Enacted a law that regulates the behavior of business agents to promote free competition and to pre- vent distortions resulting from unfair business practices.
3. Adopted a law to promote and defend competition. 4. Created a new institutional framework that allows the competitive development of the manufactur- ing industry and proposed policies and programs that stimulate the renewal and innovation of this industry.
5. Provided a new set of rules applicable to business organizations to modernize corporate governance and structures for doing business in the country.
THE NATIONAL MOVIE INDUSTRY The Dominican Republic has long been interested in stimulating the development, production, dissemination, and preservation of Dominican films as a means of communication and cultural diversity. Now, it has a Cin- ema Law that creates the General Directorate of Cinema (DGCINE) and the Intersectoral Council for the Pro- motion of the Film Industry in the Dominican Republic (CIPAC), which is the highest authority within DGCINE. The law also provides two kinds of incentives for the film industry. First, there are loans for industry participants obtained from the Film Promotion Fund (FONPROCINE), which is administered by the CIPAC; these loans are financed by funds allocated from the country’s budget as well as obtained from the collection of taxes relat- ed to the industry. The law also provides important financial incentives, such as the deduction of investments made in film projects from income taxes, as well as tax exemptions enjoyed when reinvesting in the industry, building new cinemas, and establishing film studios in the country. Foreign films produced in the country also enjoy tax exemptions and customs incentives for the temporary importation of film equipment. Similarly, in- comes from technical services in the industry enjoy significant tax breaks.