Tourism sector, with “attractive opportunities” for investment

Dominican industrialists reacted to the declarations of the US State Department on its foreign investment report on the Dominican Republic, which includes the complaints of investors who pointed to the country as a destination that has accusations of widespread corruption with requests for bribes.

The president of the Association of Industries (AIRD), Celso Juan Marranzini, expressed that the climate for investing in the country is favorable with a very positive outlook, especially when compared with countries in the region and even with nations of the world.

He assured that the Dominican Republic is a country with an enviable geographical position and climate and one of the most diversified economies, with very attractive investment opportunities in sectors such as industry, agro-industry, agriculture, tourism, free zones, among others, according to Listín Diario.

“The current government has made a great effort to boost economic growth and strengthen the climate of confidence. Likewise, it has taken important steps in terms of the fight against corruption and impunity and must continue to move firmly in that direction, and carry out the institutional reforms that are pending,” he said.

The U.S. report also notes that investors report delays in government payments, poor enforcement of intellectual property rights, bureaucratic obstacles, slow and sometimes biased judicial and administrative processes, atypical procedures in customs valuation and import classification.

However, according to Marranzini, the Government also announced that it will make substantial reductions in administrative and bureaucratic obstacles, which he also believes is urgent and once achieved will strengthen competitiveness, transparency and the business climate.

He explained that the Public Prosecutor’s Office and the Judiciary have a fundamental challenge in the fight against corruption and impunity in the sense that cases are well instrumented and processed with adherence to due process and ruled according to the law.

“We must emphasize that our country has shown sustained economic growth for more than 15 years prior to the pandemic and that there is already evidence that this year that growth will recover. It has also been one of the countries that has best managed the health crisis as shown by the figures and in terms of vaccination it is one of the most advanced in the world with more than 40% of the population already vaccinated with two doses,” he added.

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