ProDominicana elected to Steering Committee of the World Association of Promotion Agencies

In the framework of the 27th World Investment Conference (WIC), held in New Delhi, the Export and Investment Center of the DR (ProDominicana) has been elected as part of the steering committee for the representation of the Central America and Caribbean Regional Directorate of the World Association of Investment Promotion Agencies (Waipa).

The election of ProDominicana took place as an item of the Waipa General Assembly meeting and the chairmanship is held by Invest India, which has been re-elected. Other elected Board members are Switzerland Global Enterprise and Kuwait Direct Investment Promotion Authority as vice-chairs, and the elected regional directorates are: South Asia – Bangladesh Investment Development Authority (BIDA), East and Southeast Asia – Invest Korea, SSA – Ghana Investment Promotion Center, MENA General Investment and Free Zones Authority (GAFI), Central Asia – Azerbaijan Republic Export and Investment Promotion Agency – Azpromo, EU – Invest Finland, Eastern Europe Invest Cyprus – CIPA and Oceania – Trade and Investment Queensland.

The executive director of ProDominicana, Biviana Riveiro Disla, said that occupying this position within the Waipa steering committee is a recognition to the country and strengthens the position of the DR as a leader in FDI, in addition to allowing greater projection to the work of ProDominicana as an investment agency and keep the entity updated with global trends, to be better connected with other countries and promote the regional position.

In addition, he reiterated that assuming this leadership represents an opportunity to promote the DR through an international platform that includes more than 170 investment promotion agency members from 130 countries, in order to communicate and exchange best practices in the field of investment attraction and support the implementation of members’ investment plans and objectives.

“Being part of this network represents a unique opportunity to interact with key players in global investment, knowledge management and access to information that will allow us to improve our strategies for attracting resources to join efforts and improve the quality of life of the people of the DR,” he said.

On the other hand, Riveiro referred to the study carried out by the Dominican Association of Foreign Investment Companies (Asiex) which showed the positive results on the impact of foreign investment in the country.

The research shows that foreign direct investment companies reinvest at least 60.9% of their profits, which is a clear sign of confidence and commitment to continue contributing to the economic and social development of the DR.

The same study reflects that from 2020 to date FDI has increased by more than 60% and that, by the end of 2023, it is estimated that foreign direct investment will surpass the historical record of 2022.

About World Association of Investment Promotion Agencies (Waipa)

The World Association of Investment Promotion Agencies (Waipa) is an international non-governmental organization, created in 1995 by the United Nations Conference on Trade and Development, and acts as a promotional forum for investment promotion agencies (IPAs) facilitating networking and promoting best practices in investment promotion.

In turn, ProDominicana, as a member of this organization, has supported Waipa projects for more than a decade, participating each year in conferences where knowledge, experiences and best practices are shared with counterpart agencies worldwide, in order to increase the flow of foreign investment to our region.

Source: Presidencia.gob.do

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