The promotion of investment and trade was the focus of the Latin American Cities Conference Series in Santo Domingo on Wednesday, where the public and private sectors exchanged views on economic cooperation and sustainable development in the region.
During the meeting, organized by the Americas Society/Council of the Americas (AS/COA) and the Dominican Vice-Presidency, the head of state of the Dominican Republic, Luis Abinader, highlighted that this forum is an “excellent platform” for the development of Latin America’s potential, with special attention to investment in infrastructure, trade between nations, clean energy and the development of technologies, “the driving force for change in the society of the future”.
THE IMPORTANCE OF RENEWABLES
“We live in a global village, a village in which growth opportunities for countries are given more effectively as a function of interaction,” said Abinader, who advocated placing value on efforts to build a world in which “capital importance” is given to the development of renewable energies, the promotion of industry and exports.
Regarding investment, Abinader assured that the Dominican Republic is “a resilient country that has been able to overcome adversities”, favorable to receive projects and capital thanks to its stability, its legal security, its geographical position and an economy that its president expects to double in a decade.
Along the same lines, the Dominican vice-president, Raquel Peña, stressed that the country “is prepared to be a productive, logistic and recreational center at the service of the world” due to its strategic location, its proximity to important commercial destinations such as the United States, the expansion and modernization of infrastructures, less bureaucracy and a legal framework focused on attracting and protecting foreign capital.
In addition, Peña considered it to be an “ideal territory” for “nearshoring” (outsourcing a company’s activities to a nearby country), a “fundamental step in the optimization of supply chains”.
At the forum, which was held for the first time in the Dominican Republic and under the theme “Creating a new vision for sustainable investment,” AS/COA President Susan Segal said that the Caribbean country “is looking outward and there are many opportunities for foreign investment and opportunities where the public and private sectors can work together.”
PUBLIC AND PRIVATE SECTORS WORKING TOGETHER
With an agenda full of activities, this conference brought together senior executives from the private sector, members of the Dominican Government (the Minister of Industry, Commerce and Micro and Small Businesses, Víctor Bisonó and the Director General of Customs, Eduardo Sanz Lovatón) and representatives of entities such as the Development Bank of Latin America (CAF).
The panels “Facilitating sustainable investment in strategic sectors”, with a special focus on the industrial, energy and services sectors, and “Diversifying industries, creating opportunities for development and fostering a climate for innovation” played a prominent role in the day’s proceedings.
Another discussion focused on “Public-private collaboration for innovative opportunities to drive sustainable development,” with an eye on infrastructure, digital transformation, transportation or medical devices.
After Santo Domingo, this year AS/COA will hold events in Mexico City, Brasilia, Santiago de Chile, Bogota and Buenos Aires.