President Abinader says confidence in government generates large investments

President Luis Abinader affirmed this Monday that the government is working every day to create the best investment climate and generate opportunities and jobs for the Dominican Republic.

The president assured that this effort is achieving results such as the investment of Goldman Sachs of US$275 million in Diesco, allowing the promotion of the ALYON company.

He said that trust is something that can rarely be materialized in concrete terms because it is a value that has an intangible value that is difficult to see, but which is vital for any development, whether personal or business.

“But there are always exceptions, and here today, we can see, measure and celebrate what we have been building in this country for more than a year: Trust,” he said.

The head of state spoke during the event where the DIESCO industry, led by businessman Manuel Diez Cabral, announced a financial operation that will accelerate its expansion in Latin America and which consists of a contribution of US$275 million to the company from the leading international investment bank Goldman Sachs.

Abinader emphasized that it is this confidence that has led to the birth of this multi-Latin and multi-sector platform driven by a significant investment made by Goldman Sachs, the leading international investment bank, in Diesco Industries to launch ALYON.

He said this new multi-sector platform is a new packaging and beverage business ecosystem with operations in the Dominican Republic, Puerto Rico and Colombia serving more than 25 countries.

He noted that Goldman Sachs, through its investment fund, is betting on this project for which he expressed his gratitude for the trust and commitment to the country.

President Abinader considered that the contribution of Goldman Sachs marks a milestone for a Dominican-owned company and the entire country with a view to continuing its regional expansion.

He added that the investment of this global finance giant, opens the door to Latin America for its flagship fund called West Street Strategic Solutions Fund, with more than $14 billion in capital to invest worldwide.

“This is the first investment of the WSSS I Fund in Latin America. And it’s doing it here, in the Dominican Republic. But Goldman Sachs already foresees other investments jointly with this new platform throughout the region and we celebrate and support it with the utmost energy,” he highlighted.

The governor added that Goldman Sachs is one of the largest investment banking and securities groups in the world, has 2,300 billion dollars in assets and provides financial services to corporations, financial institutions and investors in more than 30 countries.

He said that its commitment to this industrial packaging and beverage division of the new multi-Latin and multi-sector platform is not only innovative, but also complete and decisive.

He indicated that ALYON will have the experience of first level companies such as POLYPLAS DOMINICANA, ERMOPAC INDUSTRIAL, READY TO DRINK and PAC TECH INTERNATIONAL.

As you can see, he assured, it is a first class team, with the backing of a giant like Goldman Sachs and with a center of operations in the Dominican Republic.

“This, if I may emphasize, are the best ingredients to develop a project of success and unlimited growth. This work is materializing, and here today, there is more than evident proof,” he said.

He reiterated his thanks to all the actors who have made this alliance possible and encouraged them to continue in this direction.

“For us, as Winston Churchill said, private enterprise is the sturdy horse that pulls the cart. Well, I tell them to keep pulling because we will keep pushing,” said Abinader.

For his part, the president and CEO of DIESCO and ALYON, Manuel Diez Cabral, said that the birth of ALYON accelerates his vision of business expansion, with a commitment to continue supporting social, economic and environmental development in the countries where it has a presence, inspired by its noble purpose of building opportunities and transforming lives.

“Today we grow and create a new multi-Latin platform, as a result of a trajectory of business excellence of almost 60 years. In addition, this transformational transaction is an endorsement of the optimistic future of the Dominican Republic, Puerto Rico, Colombia and the region,” said Diez Cabral.

Meanwhile, Goldman Sachs Asset Management’s vice president of private investments, Alex Harris, highlighted that the investment will allow DIESCO to add additional innovation in environmental, social and governance initiatives.

“DIESCO’s growth is a direct reflection of the talented management team and its more than 1,500 employees who have demonstrated resilience and vision to overcome obstacles and pioneer business development in the region,” said Harris.

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