SANTO DOMINGO.– Although construction has experienced a slowdown in its growth rate, per capita cement consumption has remained strong, mainly due to the economic and political stability achieved by the state in recent years, said Giuseppe Maniscalco, president of the Dominican Portland Cement Association (ADOCEM), yesterday.
The representative of the national cement industry highlighted that the local industry currently has a per capita consumption of around 505 kilograms per inhabitant, and that in terms of installed cement production capacity, the Dominican Republic is considered the first nation in Central America and the Caribbean, after Mexico, which reaches 708 kg per person, positioning itself well above the average of Latin America and the Caribbean.
"For many years, the investments made to strengthen the production capacity of the local cement industry have allowed us to respond to the rapid growth of the construction sector, one of the main drivers of the national economy and economic recovery, which has taken us from being a net importer of cement to a self-sufficient supplier and exporter," Maniscalco noted.
He also highlighted that the government's implementation of structural reforms in key areas, the liquidity injection measures of 119 billion pesos placed through the financial system, and the reduction of the monetary policy rate implemented by the Central Bank, along with efforts to increase the quality of human capital and attract Foreign Direct Investment, have been increasingly important to sustain the country's growth potential.
He also said that the capacity of the national cement industry has contributed to meeting local demand, exporting up to approximately 20% of its production and maintaining stability in this sector, which is reflected in stable and sustainable price levels.
"The best way to ensure a healthy flow of investment in the construction sector, the cement industry, and the country in general is to maintain our position as the most competitive in the region," stated the president of ADOCEM.
Regarding the sector's performance from January to May of 2023, according to information provided by the Central Bank, cement consumption in the local and export markets increased by 1.5% compared to the same period last year. This, together with the 2,779,188 tons of cement produced to date, and the evident improvement in other economic indicators, points to an estimate of accelerated growth by the end of the year.
"We are confident that this momentum will further consolidate the cement industry and the economy in general," said the president of ADOCEM.
