The Export and Investment Center of the Dominican Republic (ProDominicana) presented in the Spanish capital the “Investment Guide of the Dominican Republic”, a useful tool that provides ideal information for the development of investments and businesses in the country, as well as the opportunities and facilities that the Dominican Republic offers to foreign investors.
The Guide was presented by the Director of Investment of ProDominicana, Marcial Smester, on behalf of the direct executive of the entity, Biviana Riveiro, during the 5th edition of the “Hispanic-Dominican Business Forum of the Community of Madrid” where he presented the benefits of the country as a leading destination in the Caribbean region in receiving Foreign Direct Investment (FDI).
During his speech, Smester stressed that this Guide serves to design the critical path of investment projects for the search for information and decision making on future investments and business expansion in the country, taking into account that foreign direct investment in the Dominican Republic is a key factor for economic recovery and its growth represents new opportunities, more innovation and more diversity.
The Dominican Republic exhibited results in terms of FDI attraction, with unprecedented figures exceeding US$1.8 billion dollars in just the first half of the year 2022, this reflects the confidence in the Dominican Republic as a destination to invest in sectors such as tourism, mining, free zones, trade, real estate development, and other sectors such as renewable energy, film, technological innovation and other industries, he explained in his presentation.
The Guide highlights in a didactic way the advantages offered by the Dominican Republic for foreign investment, highlighting the strategic geographic location, macroeconomic and political stability, advanced infrastructure, growing insertion in international markets, development in the diversification of economic sectors and policies for the promotion of investment, as well as the variety of natural resources and competitive human talent. Added to this are the legal guarantees that protect and stimulate investment, the regulatory reforms, the public policies promoted by the Government to make the execution of an investment project simpler, more agile and strategic, such as the One-Stop Investment Window within the Zero Bureaucracy Program.
Smester also highlighted that foreign direct investment in the Dominican Republic has a significant impact on the national economy. According to the latest report of the Economic Commission for Latin America and the Caribbean (ECLAC) 2021, the Dominican Republic was the leading recipient of foreign direct investment in the entire Central American and Caribbean region, managing to attract more than three billion dollars in foreign direct investment during that year, despite the effects of the COVID-19 pandemic.
Hispanic-Dominican Business Forum of the Community of Madrid
The “Hispanic-Dominican Business Forum of the Community of Madrid” was held at the emblematic Santoña Palace, headquarters of the Madrid Chamber of Commerce, where different personalities from the commercial, business and political spheres of Madrid and the Dominican Republic shared their views and assessments on the benefits of investing in the Dominican Republic and the Community of Madrid, the economic engine of Spain, a city open for business that offers the Dominican diaspora endless opportunities for the promotion and expansion of their businesses.