In an event organized by the Center for Export and Investment of the Dominican Republic (ProDominicana) and the President of the Republic Luis Abinader, 11 foreign capital companies were recognized for their contributions to the economy, through the generation of jobs and foreign exchange, technology transfer and export promotion, as well as increased international competitiveness.
In this regard, the executive director of ProDominicana, Biviana Riveiro Disla, said: “The recognition of these companies is a sign of the commitment and confidence they have in the Dominican Republic. Their investment not only boosts our economic growth, but also generates quality employment and promotes sustainable development. These companies are an example of how foreign investment can positively transform a country’s economy and society.”
President Luis Abinader, in taking the floor, congratulated the awarded companies and highlighted: “Today we celebrate the effort and dedication of these companies that have decided to invest in our country. Their contribution has been fundamental for the Dominican Republic to lead foreign direct investment flows in the region, reaching historic figures that reflect the confidence in our market. We will continue working to create an environment conducive to investment, thus ensuring sustainable development and the well-being of all Dominicans”.
The event included the special participation of Mr. Ismail Ersahin, executive director of the World Association of Investment Promotion Agencies (Waipa), who spoke on global foreign direct investment trends, the importance and challenges of investment promotion agencies and highlighted the positive performance of the Dominican Republic in attracting and expanding investment.
As of 2022, the Dominican Republic has led foreign direct investment inflows in Central America and the Caribbean, registering a historic increase of 53%, driven mainly by the growth in inflows to the Dominican Republic, which have exceeded USD 4 billion for the first time in the history of the Dominican economy.
By the end of 2023, net FDI inflows reached some USD 4,390.2 million, for an increase of 7.1% over 2022, achieving a new historical milestone and surpassing for the second time the USD 4,098.8 million of 2022. In turn, this value would represent a growth of 45 % compared to the same period of 2019 (pre-pandemic).
It is important to highlight that in the period from 2021 to 2023, for the first time in the history of the Dominican economy, USD 3,000 million will be exceeded for three consecutive years. Even in 2020, the year of the pandemic, it was possible to close with FDI exceeding USD 2,550 million, a figure that represented the annual average of FDI of the previous ten years.
During the first quarter of 2024, foreign direct investment reached the best figure in history with USD1,268.5 million, for an inter-annual increase of 1.5%, positioning this period as the best January-March quarter in FDI attraction in the Dominican economy.
Honorees
The awards were given to companies that have stood out for their stability and strength in the Dominican economy. Particular recognition was also given to those with the longest track record, seniority and size in the Dominican Republic, focused on strategic sectors. In addition, this year were integrated important categories such as sports capital companies in the country.
In the “Industry and Commerce” category, Bepensa Dominicana was recognized for demonstrating a constant commitment to industrial and commercial development in the country, promoting economic growth and generating quality employment.
In the “Sustainable Investment” category, LY Company Caribe was awarded for its sustainable investments, promoting responsible and environmentally friendly business practices.
Also, Medtronic (Davis & Geck Caribe) in the “Free Zones” category, for its impact on the development of the medical device industry, generating quality jobs and increasing our competitiveness through greater technology transfer.
In the “Agroindustry” category, Tabacalera de García SAS (Allied Cigar La Romana) was recognized for its fundamental development in the agroindustrial sector, producing high quality cigars and promoting rural development.
In addition, the company Ecoener Fotovoltaica Dominicana received recognition in the “Energy” category, for being at the forefront in the production of renewable energy, contributing to a more sustainable future.
In the “Financial” category, Citibank República Dominicana was recognized for its crucial role in the Dominican financial sector, facilitating investments and economic support to various investment projects.
In the “Telecommunications and ICT” category, Towers & Sites Dominicana was recognized for its contributions to the country’s telecommunications infrastructure, ensuring quality connectivity.
In the “Real Estate” category, Grupo Roble was awarded for its commitment to real estate development, creating modern and functional spaces that improve the quality of life.
In the “Tourism” category, Grupo Martinón received recognition for being a driving force in the tourism sector, attracting visitors and generating jobs.
In the “Logistics Infrastructure” category, the ITM Group received an award for significantly improving logistics infrastructure, facilitating trade and the distribution of goods.
Finally, Major League Baseball (DR) received a statuette in the “Sports Development and Training” category, for being a leader in sports development and training, providing opportunities for young Dominican talent, generating thousands of jobs in the country and supporting the development of sports in the Dominican Republic.
This event had the collaboration of Fersán, Banco de Desarrollo y Exportaciones (Bandex), Banco Popular Dominicano, Seguros Banreservas, Banco de Banreservas, Banco BHD, Banco Centroamericano de Integración Económica (BCIE), Grupo APS, Grupo Rizek, Multiquímica, Periódico Hoy, El Dinero, Pincel Digital, Revista Mercado, Grupo Diario Libre, JJ Spirits, Cerveza Canita and Chinola.
Source:Presidencia.gob.do
