For the first time, the Dominican Republic reaches the record figure of Foreign Direct Investment (FDI) with an inter-annual growth of USD 813.6 million (25.5%) during the period 2022, reaching the extraordinary sum of USD 4,010.4 million according to figures from the Central Bank of the Dominican Republic (BCRD), receiving 35% of the investment flows of the Central American region for this year.
The executive director of ProDominicana, Biviana Riveiro Disla, pointed out that this trend will continue to consolidate our participation above 40% in the flows coming to the Caribbean on average, historically.
“This incredible growth is an indicator that the country is in the sights of foreign investors thanks to the policies of social, legal, political and economic stability promoted by the President of the Dominican Republic, Luis Abinader; of the Investment Cabinet coordinated by the Vice President, Raquel Peña; the work deployed by different government entities, where we take advantage of the strategic and competitive advantages with a privileged location, which allows us to position ourselves as a logistics hub for our high connectivity and routes, anchored in an economy in constant growth in important strategic sectors such as energy, tourism, free zones and trade, real estate and telecommunications, which has attracted the interest of investors from around the world,” said the director of ProDominicana.
Riveiro pointed out that the demand for accompaniment and advisory services to companies and foreign missions in ProDominicana has increased substantially and that there has been a substantial 360 % improvement in the same, ranging from availability of useful information, the structuring of the Investment Portfolio, and the implementation of the innovative One-Stop Investment Window (VUIRD) of world reference.
“All of these initiatives we have deployed have earned ProDominicana international recognition as a cutting-edge promotion agency, being one of the agencies recognized in Latin America and the Caribbean with the Global 2023 Investment Award from the Annual Investment Meeting (AIM) organized by the Government of the United Arab Emirates. We remain committed to continue fostering a business-friendly environment, working with investors and stakeholders to ensure that the country remains an attractive and competitive destination for Foreign Direct Investment,” said Riveiro.
On FDI growth
The tourism sector played an important role in the growth of FDI flows in the country, remaining the leading sector with investment exceeding USD 1 billion for the first time in history, representing 25% of total FDI flows during 2022.
It is worth noting that the energy sector accumulated the highest absolute growth of USD 475.2 million additional and a total attracted of USD 753.4 million. In terms of importance, it is followed by the growth of the Trade/Industry sector with absolute growth of USD 292.1 million and a total value received of USD 599.5 million.
Likewise, the origin of investments, investments from Brazil totaled USD 109.5 million in 2022, representing a significant recovery in absolute growth of USD 303 million. In addition, residents of the United States made foreign direct investments of USD 1,520.9 million in the Dominican economy in 2022.
Learn more: ECONOMY