SANTO DOMINGO – Businessman Manuel Estrella highlighted that the Dominican Republic is experiencing one of its best moments for investment thanks to the macroeconomic stability, social peace, legal security, and sustained growth that the country exhibits.
“The country offers all the conditions to continue growing and developing,” Estrella said, highlighting that the nation has broken foreign investment records in recent years.
He also praised the joint work between the Government and the private sector to promote strategic initiatives aimed at economic growth and strengthening the national industry.
Estrella stated that the Dominican Republic has gone from being seen solely as a tourist destination to becoming an attractive country for large investments and industrial projects of regional scope.
He also stated that Dominican businesses continue to invest in the country, reinvesting and expanding operations, which has strengthened sectors such as industry, tourism, exports, and free trade zones.
Estrella's statements were made during the inauguration of EcoAcero, in San Pedro de Macorís, an event attended by President Luis Abinader.
During a brief speech, the president, accompanied by Vice President Raquel Peña, stated that the inauguration of the new industrial plant represents a boost to the economic development and competitiveness of the Dominican Republic, highlighting that this type of investment generates jobs, strengthens national industry, and contributes to the growth of communities and the country.
He stated that the government will continue to facilitate initiatives that promote national progress and attract new investments. He indicated that projects like this one strengthen the Dominican economy, generate opportunities, and contribute to the well-being of communities.
He also stated that the new industry will contribute to greater competition and development within the sector, which will have a positive impact on key areas for national economic growth. He further noted that industrial expansion is crucial to consolidating the Dominican Republic as a leader in production and development in the region.
In closing, the governor congratulated the Estrella family, the technicians, and all the workers who participated in the construction of the modern plant, highlighting the effort and vision behind the industrial project.
Also speaking at the event was the Minister of Industry, Commerce and MSMEs, Eduardo Sanz Lovatón, who highlighted that the Dominican Republic is experiencing a historic moment driven by optimism, investment and the public-private partnership promoted by President Luis Abinader.
He highlighted the projected export of 400,000 rods, equivalent to more than 65 billion pesos, as a sign of Dominican industrial growth.
State-of-the-art technology and export capacity
For his part, Pedro Estrella Tavares, CEO of EcoAcero, explained that the new rod production plant has state-of-the-art technology and the capacity to produce 400,000 tons annually, making the country the only one in the Caribbean with an infrastructure of this level.
He indicated that the project was developed together with international companies from Germany, Italy and Spain, starting operations after 20 months of construction and with the support of hundreds of workers and strategic partners.
He added that this capacity will allow them to supply the regional market and strengthen the Dominican Republic's position as "the hardware store of the Caribbean".
They highlight the economic and environmental impact of the plant
Meanwhile, Filipo Darlesa, regional CEO of SMS Group America, described the facility as one of the most modern plants in Latin America in its category, the result of collaboration between SMS Group, Grupo Estrella and EcoAcero.
He also highlighted the plant's positive environmental impact, stating that the implemented technologies will reduce carbon dioxide emissions by more than 1,700 tons per year through modern energy efficiency and water redirection systems.
The ceremony was blessed by the Bishop of San Pedro de Macorís, Monsignor Santiago Rodríguez, who offered a prayer of blessing for the new company, asking for peace, prosperity, and wisdom for its directors, employees, and collaborators.
Recommended readings:
- ABA anticipates favorable macroeconomic conditions for the economy and the banking sector in 2026
- Minister of Finance and Economy: The Dominican Republic is experiencing a period of solid and sustainable macroeconomic stability
- The IMF says the Dominican Republic's economic performance is due to social peace, macroeconomic stability, and legal certainty
