Donald Guerrero: Leader in the Automotive Industry in PR

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Written by Kaitlyn Gomez
Donald Guerrero serves as chief executive officer of Axis Automotive Group, a privately owned automotive company in Puerto Rico. Under Donald Guerrero’s leadership, Axis Automotive Group has become one of the leading businesses of its kind in Puerto Rico. The company is committed to honesty, respect, integrity, and transparency in all its transactions, and it credits these principles, which are reflected in its slogan “buy with confidence,” to its lasting success.

Donald Guerrero founded Axis Automotive Group in 1996 when he acquired a single Toyota service center in Muñoz Rivera. He expanded the service center to include vehicles sales in the same year, then forged a partnership with Toyota Financial Services in 2000. In 2004, Axis Automotive Group formally began encouraging customers to “buy with confidence,” a slogan that continues to inform its businesses practices today.

Axis Automotive Group expanded over the next decade-plus, with Guerrero leading the company in opening a BMW- and MINI-certified service center, a BMW- and Toyota-certified body shop, and a Nissan dealership. Growth only accelerated from there: since 2017, he has added to his company’s portfolio a Chrysler dealership, a MINI showroom, two used luxury vehicle dealerships, and luxury vehicle service shop.

Today, Axis Automotive Group comprises seven dealerships, five service shops, a body shop, and fleet department. By employing more than 800 staff members, Donald Guerrero’s company has made a positive impact on the economy of Puerto Rico and the Caribbean region as a whole.

Donald Guerrero is familiar with influencing economies, having served from 2016 to 2020 as the minister of finance of the Dominican Republic. During his tenure, the Dominican Republican native implemented policies that curbed tax evasion, improved collections to 100% in 2018, and reduced wasteful public spending.

His actions brought increased economic stability to the Caribbean nation. In 2019, the Dominican Republic achieved a 5.1% growth rate, better than any country in all of Latin America and the Caribbean.

Guerrero earned accolades for his responsible stewardship of the country’s economy from both AméricaEconomía, which recognized him as one of the three best finance ministers in Latin America in 2016, and The Banker, a Financial Times publication that named him the 2018 Minister of Finance of the Year for the Americas.

Donald Guerrero is a graduate of the Instituto Tecnológico de Santo Domingo (INTEC), where he earned an undergraduate degree in economics and a postgraduate degree in business administration. A top student, he garnered a Fulbright Scholarship and went on to study at the University of Maryland, graduating with a master’s degree in microeconomics and finance. His academic credentials also include a postgraduate degree in banking and finance from Chase Manhattan Bank.

Guerrero has drawn on his academic background to serve as an executive at Chase Manhattan Bank, Banco International, Reid & Pellerano, and the newspaper Listín Diario. He began his career as an academic, passing on his knowledge to the next generation of economists and financial professionals at Pedro Henríquez Ureña National University, Pontificia Universidad Católica Madre y Maestra, and INTEC.

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Petrochemical Holding GmbH arbitration: Romania appeals ICSID award against Iakov Goldovskiy

Image Source: Unsplash

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Petrochemical Holding GmbH has learned that Romania will appeal an award made by the International Centre for the Settlement of Investment Disputes in November 2024.

Petrochemical Holding GmbH brought a dispute to ICSID in July 2019, claiming the Romanian state had breached its obligations under the Energy Charter Treaty by sanctioning the unlawful sequestration of the company’s assets in RAFO Onești, a major Romanian petrochemicals plant.

An ICSID Tribunal ruled in favour of Petrochemical Holding GmbH, finding that that the Austrian company had been ‘denied the right to fair and equitable treatment established by this treaty [the Energy Charter Treaty]’.

Petrochemical Holding GmbH were awarded €85 million plus interest by ICSID, significantly less than the €837.2 million the company had requested. ICSID awards are final and binding, and can be recognised and enforced in any ICSID Member State.

ICSID is the world’s leading institution devoted to international investment dispute settlement. ICSID was established in 1966 by the Convention on the Settlement of Investment Disputes Between States and Nationals of Other States, which has been signed by 165 States.

Petrochemical Holding GmbH is an Austrian company that has invested in petrochemicals projects across central and eastern Europe. It is owned by Austrian businessman, Iakov Goldovskiy, who has previously invested in the petrochemicals sectors in several Central and Eastern European countries.

The company acquired RAFO from bankruptcy in 2007, reimbursing all of RAFO’s creditors in full for the first time in Romanian history.

Romania has filed for annulment of the award with ICSID. According to statistics published by the court, only 2.6% of registered arbitrations under the ICSID Convention were annulled.

In the meantime, the €85 million award in favour of Petrochemical Holding GmbH will continue to accrue interest. Romania also risks enforcement proceedings being made against Romanian assets that are not subject to sovereign immunity.

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Understanding Thailand’s Visa Process in 2025

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Visa policies and approvals can be challenging to understand, but Thailand is adjusting to make Thai tourism simpler and more attainable for a wider array of visitors. Whether short-term tourists, remote workers, or even long-term residents, Thailand ensures its visa policies are ready to meet the new demands of shifting worker trends.

Figuring out a Thai visa application may seem daunting. Still, there are several keys to managing the Thailand DTV visa process in a simple yet efficient way that helps tourists and future residents make the most of their time in Thailand.

Thai Tourism Growth and the Shift of Visa Policies

It’s no secret that the pandemic affected tourism worldwide, but luckily, Thailand saw an uptick in tourism in 2023 and 2024, prompting its shift in visa policies. Between visitor demographics and tourism trends, the Thai government is determined to modernize entry practices to offer better options for digital nomadism and the demand for longer stays.

One Thai initiative includes the Destination Thailand Visa (DTV), which caters to remote workers, freelancers, and digital professionals who want to live and work in Thailand while enjoying the local culture and cuisine. These mid to long-term visas provide residency for legal remote work.

So, what visa options do potential travelers have to choose from? The Tourist Visa (TR) is the most common visa, which lasts for 60 days and includes the option to extend. Visa on Arrival is another option that is only available in select countries. These travelers can stay in Thailand for 15 to 30 days, depending on the entry point used.

Of course, education, retirement, and business visas provide long-term stays for travelers looking to complete studies, move to Thailand for retirement, or participate in business ventures.

An Easier Thailand Visa Application Process

Visa applications used to be a long, drawn-out process run by endless paperwork. Thailand has since digitized a large chunk of the process, streamlining it and offering online applications with platforms like the e-visa system and QR-based approvals.

To utilize these methods, travelers will need a minimum six-month passport, accommodations, travel insurance, and financials that prove viability for long-term visas. Travelers can use platforms like VisaNet, which are preferred options that heighten accessibility for DTV visas.

What Does the DTV Visa Process Look Like?

Unlike many international visas, the Thailand DTV visa allows for multiple entries and longer stays of up to 180 days. Travelers can even enjoy the opportunity to renew their visas. To apply, potential travelers must prove their eligibility for foreign companies or status as freelancers with stable incomes.

The goal of these visas is to attract high-spending travelers who can help the economy while enjoying all that Thailand offers.

Given the steep competition from other travel destinations like Portugal and Bali, Thailand must continually devise unique ways to attract travelers beyond short-term tourism revenue.

Tips and Tricks for Visa Success

Generally, applying for a visa at least 3-4 weeks in advance increases the odds of getting approvals before travel. This allows officials to review the proper documents and ensure everything is in order before travel. It’s always important to stay on top of these changing policies through official embassies and third-party services to guarantee that everything is up and up.

All in all, visa applications can be challenging to navigate. Still, Thailand wants to make it easier than ever for remote workers, tourists, and retirees by offering updated, modernized applications that offer greater options for short—and long-term stays.

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Romania Challenges Decision in Petrochemical Holding GmbH Arbitration Case

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Following a decision by the International Centre for Settlement of Investment Disputes (ICSID) arbitral tribunal in November 2024, Romania decides to appeal the award to investor.

The appeal comes despite the country’s economic challenges and that refusing to pay the award could result in increased interest and budgetary pressure.

In 2007, Petrochemical Holding GmbH purchased RAFO Oneşti, one of the largest oil refineries in Romania and Eastern Europe. At total refining capacity, the plant could process 3.5 million tonnes of oil and was a prime opportunity for investment. Now, almost two decades later, the Romanian government has decided to appeal a decision by the International Centre for Settlement of Investment Disputes (ICSID) that it breached its international obligations.

ICSID is an internationally renowned forum for investor-state disputes, operated by the World Bank. It provides a foundation for most international investment treaties and numerous investment laws.

ICSID ruled that the Romanian government had breached the Energy Charter Treaty, an international agreement signed in 1994 which contains provisions for protecting investors in the energy sector. Romania Journal notes that the tribunal found that Petrochemical Holding GmbH was ‘denied the right to fair and equitable treatment’ under the treaty and awarded the company €85 million in compensation, plus arbitration costs and interest.

Petrochemical Holding GmbH is a Vienna-based investment holding company owned by Austrian investor, Iakov Goldovskiy. Goldovskiy has invested in several petrochemical operations across Central and Eastern Europe and has previously vertical integrated the petrochemical industries in several countries with great success.

The appeal comes at a decisive moment for Romania following months of political uncertainty and rising concern over the future of foreign investment.

Romania has a chequered history of abiding by ICSID rulings. According to Kluwer Arbitration Blog, Romania ranks third in non-compliance with Energy Charter Treaty related awards and according to the ICSID website has seven pending cases.

On the other hand, Romania has paid ICSID awards in the past, notably in the case of the Micula Brothers who were awarded €178 million in 2013, following breaches of the BIT (Bilateral Investment Treaty).

Romania’s decision to appeal the award could have significant implications. Firstly, as tribunal decided that the Romanian government was liable for the interest and arbitration costs, delays to payment and further legal challenges will result in increased liability for the Romanian taxpayer.

Secondly, it could lead to growing concerns regarding Romania as a destination for foreign investment. In February 2025, Fitch Ratings, a leading provider of credit ratings and market analysis, downgraded Romania to BBB- reflecting a negative outlook for investment. EU Reporter notes that the recent political and economic uncertainty in Romania is spooking foreign investors and suggests enforcing international standards like ICSID as a way to position the country as an attractive investment destination.

Finally, while voluntary payment is one option, alternative methods of enforcement include the attachment of state-owned assets as part of the credit award. While complicated, this could mean that some of Romania’s state assets are potentially liable to be pursued in the future as part of the award.

Romania’s decision to appeal comes at an interesting time and could have far-reaching implications. For foreign investors, as well as Romanian citizens, the outcome is likely to be one to watch.

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