U.S. Senator and prestigious U.S. media highlight the country’s work to attract investments.
The Alliance for Development in Democracy (ADD) envisions the Dominican Republic, Panama and Costa Rica as the main destinations for the installation and logistical development of large capital investments.
As part of the strategy to promote economic growth promoted through the Alliance for Development in Democracy (ADD) and taking advantage of the reconfiguration of global supply chains, the Dominican Republic is consolidating its position as one of the main destinations for the development of large capital investments. This was stated by U.S. Senator Tim Kaine, who valued the good investment climate in the countries of the region grouped in the DDA, based on political, economic and social stability, as well as nearshoring to reach target markets in a more competitive and sustainable way.
Kaine considered the signing of the Memorandum of Understanding between the member countries of the DDA, in which the Dominican Republic leads the commercial axis, and the government of the United States to be opportune. He also considered the agreement to be “great” in view of the challenging context caused by geopolitical conflicts, and the challenge of the U.S. supply chains installed in China that could move their operations to Latin American countries that provide guarantees for the flow of commercial activity, as evidenced by those who make up the DDA.
Likewise, the famous Argentine writer, journalist and lecturer, Andres Oppenheimer, reviewed in his column in the prestigious American media Miami Herald, the ample opportunities for multinational companies to move their manufacturing plants from China to Latin America to “protect themselves from possible export problems”, highlighting the Dominican Republic, a member country together with Costa Rica and Panama of the recently created “Alliance for Development in Democracy” (ADD), as one of the few nations in the region that are promoted as alternatives to the factories in China.
Historic Working Table with the United States
In the DDA, a historic working table was recently established with the United States through a memorandum of understanding that represents a transcendental impulse in the strengthening of global supply chains, a key element to lead the region’s economic growth.
The Minister of Industry, Commerce and Mipymes, Víctor -Ito-Bisonó has highlighted the impact of these strategic alliances. “These agreements strengthen a direct channel of communication with the United States, setting up a functional working table and laying the groundwork for fluid discussions, agreements and proactive actions that will generate the identification of opportunities for new companies and projects so that they can develop business in our countries.” The MICM Minister emphasized.
Strategic Alliances in the Region (ADD)
The Alliance for Development in Democracy (ADD) seeks to promote a regional proposal to relaunch commercial, demographic and cultural links between these countries and those of the region. It also promotes economic growth within the framework of democracy, human rights and the Sustainable Development Goals, as well as supporting an agenda that generates synergies between the countries and other strategic partners in the region, taking advantage of the process of reconfiguring global supply chains and fostering the creation of conditions for the return of the production of goods and services to the region.
Leveraging Nearshoring in the DR
The Dominican Republic, due to its strategic location and political, economic and social stability, has been developing as a Regional Logistics Hub, supported by nearshoring, which represents a consolidation opportunity for economic development. Pre-existing trends have allowed the reconfiguration of global value chains (GVC), and with it the behavior of foreign direct investment (FDI) in the world, creating the conditions for the massive attraction of value chains that are adopting strategies of regionalization, cost reduction, resilience and efficiency to reach their markets.
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