Vice President and MICM minister highlight DR qualities for foreign investment in trade, energy and technology

The Minister of Industry, Commerce and Mipymes (MICM), Víctor Ito Bisonó, participated in the Latin American Cities Conference Series “Creating a new vision of sustainable investment”, together with the President of the Republic, Luis Abinader, Vice President Raquel Peña, and there he emphasized that the country supports and encourages foreign investment because it generates more employment in the Dominican Republic.

Vice President Raquel Peña, in her opening remarks at the event, assured that the country is prepared to be a productive, logistical and recreational center at the service of the world due to its strategic location and proximity to important commercial destinations such as the United States, as well as for being the ideal territory for nearshoring, a fundamental step in the optimization of supply chains.

Vice-President Peña stressed that based on the economic and social performance of the country, as well as its different characteristics, the government has built an offer that shows the great potential for foreign direct investment.

Minister Víctor -Ito- Bisonó emphasized that with respect to nearshoring, President Luis Abinader has had a clear vision, and for this reason, the MICM has been promoting the Alliance for Development in Democracy (ADD) together with Panama, Costa Rica and Ecuador.

He pointed out that the President established by decree the Investment Promotion Cabinet, an organization that he is honored to preside as head of the MICM.

“The numbers do not lie, the free zones are growing and are a great employment opportunity for our citizens. This sector has almost 200,000 direct jobs,” said Minister Bisonó.

Susan Segal, president and CEO of the Americas Society / Council of the Americas, stated that “it is very clear that the Dominican Republic is looking outward and that there are many opportunities for foreign investment and opportunities where the public and private sectors can work together”.

The conference, held for the first time in the Dominican Republic, was attended by Susan Segal, president and CEO of the Council of the Americas, Rolando González-Bunster, chairman and CEO of Inter Energy Group, and Andrés Gluski, president and CEO of AES Corporation, who shared their perspectives on the transformation of the country, with emphasis on the industrial, services and energy sectors, in a panel moderated by Gabriela Frías, of CNN en Español.

Other participants included government officials and multinational company executives, Víctor Bisonó, Minister of the MICM; Eduardo Sanz Lovatón, General Director of Customs; Andrew Martin, President for Latin America of Pfizer; José Fernández, Regional Sales Director of Salesforce.

Also, Samuel Pereyra Rojas, Administrator of Banco de Reservas; José Miguel González Cuadra, executive president of Centro Cuesta Nacional (CCN); Antonio Silveira, manager of Infrastructure and Digital Transformation (CAF-Development Bank of Latin America); Manuela Uribe, director and general manager for the Caribbean of Medtronic, among others.

The Council of the Americas (COA) is the leading international business organization whose members share a common commitment to economic and social development, open markets, the rule of law and democracy throughout the Western Hemisphere, while the Americas Society (AS) is an organization dedicated to education, debate and dialogue in the Americas.

In recent years, the Americas Society (AS)/ Council of the Americas (COA) has held meetings in Bogota, Buenos Aires, Lima, Medellin, Mexico City, Monterrey, Panama City, among others. After Santo Domingo, the next events in 2023 will be held in Mexico City, Brasilia, Santiago de Chile, Bogota and Buenos Aires.


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Dominican Republic Live Editor

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