With the objective of strengthening commercial ties and the establishment of Swedish companies in the Dominican Republic, the executive director of the Export and Investment Center of the Dominican Republic (ProDominicana), Biviana Riveiro Disla, participated in a special mission to present commercial opportunities, take advantage of nearshoring and commercial agreements with the European Union and the Caribbean, as well as to deploy actions to deepen business opportunities in different sectors such as: mining, tourism, medical services, real estate, energy, aviation, free trade zones, among others.
The executive director participated in several meetings with business entities and governmental personalities, in order to identify investment opportunities and strategic alliances with companies in that country, to strengthen the growth of trade.
Rivero informed that the commercial exchange between the Dominican Republic and Sweden from 2017 to 2022 reached USD 529 million, with exports representing 55 % based on a total of USD 290 million exported during this period. He also indicated that Dominican exports to Sweden grew by 46 % in 2022 compared to the pre-pandemic year 2019.
In this regard, among the products exported to Sweden in 2022 are: ferronickel USD 29.4 million, bananas USD 16.2 million, rum USD 1.2 million, dental floss USD 0.8 million and shoes USD 0.7 million.
Between 2018 and June 2023, foreign direct investment (FDI) flows from Sweden amounted to USD 40 million. The amount of USD 11.7 million of FDI received in 2022 represents a growth of 48.1 % compared to 2021. During the first half of 2023, FDI reached USD 5.4 million.
Likewise, during 2022 Swedish tourist arrivals stood at 4,153 Swedes for an increase of 155b% year-on-year. Meanwhile, for the period January-June 2023 the country received 3,035 Swedish visitors, which indicates that growth will continue this year as well.
During the mission, Riveiro held several meetings, including a meeting with Business Sweden, where he presented the country’s outlook to Mr. Mikael Johansson, global head of the Mining and Smart Industry and New Materials Program, and also with Mr. Nicolás Urbina, Project Manager for Mexico, Latin America and the Caribbean. Riveiro was accompanied in this plenary session by Mr. Carlos Vicioso, Minister Counselor and Chargé d’Affaires a.i., and Counselor Raúl Hernández, in charge of the Commercial Section of our Embassy.
At the same time, the executive director held a meeting with Mr. Nils Ekman, vice-president of the Swedish Chamber of Commerce, in order to share business issues for both nations and coordinate trade missions, as well as to follow up on ongoing projects.