The government will soon launch the Single Investment Window for the prioritized sectors of renewable energy, telecommunications, infrastructure and tourism, within the Zero Bureaucracy Program, said Vice President Raquel Peña.
SANTO DOMINGO– The sustained increase in foreign direct investment (FDI) places the Dominican Republic in the top 10 investment destinations in Latin America and the Caribbean, as highlighted by Vice President Raquel Peña during the recognition given by the Dominican Republic Export and Investment Center (ProDominicana) to 10 foreign-owned companies for their contributions to the economy.
Peña, president and coordinator of the Investment Promotion Cabinet, also said that during the last ten years the country has received US$27 billion in foreign direct investment (FDI), directed to various sectors, such as trade and industry, tourism, real estate, mining, energy, free zones, finance, telecommunications and transport.
“What we see reflected in our economic performance is the result of all the effort deployed for transparency, the fight against corruption, the strengthening of the justice system, legal security, political and social stability, which have made us a favorable country for investment,” the vice president stated.
Peña explained that “during the last year 2021, foreign direct investment was US$3,102.1 million, showing a growth of 21.2% compared to 2020, which positioned us as one of the economies that attracted the most investment in the region, where we were responsible for attracting more than 80% of the flow that entered the Caribbean.”.
He highlighted that this year the growth trend of these FDI flows is maintained with a collection of US$1,870.9 million in the first half of 2022, a growth of 20% compared to 2021.
The vice president indicated that the group of recognized companies has driven socio-economic transformations and productive development in the country for decades.
“Today we can say that we are moving towards a substantial transformation of our economy, accompanied by more than 700 investing companies that, like us, have decided to bet on the productive sectors, the creativity and the effort of the Dominican, generating more than 200,000 jobs and important business links,” Peña pointed out.
The Vice President cited, among the measures adopted to promote investment, the launch and transformation of ProDominicana, the implementation of the General Directorate of Public-Private Partnerships (DGAPP), the launch of the first National Export Promotion Plan (PNFE), the digitization of the Foreign Investment Registration process, and the creation of the Investment Promotion Cabinet.
He added that they will soon be launching the Single Investment Window for the prioritized sectors of renewable energy, telecommunications, infrastructure and tourism, within the Zero Bureaucracy Program.
Likewise, ProDominicana's Executive Director, Biviana Riveiro, highlighted that the Dominican Republic attracted 81% of the FDI that came to the region and noted that the contribution of foreign direct investment has been crucial for the country's economic recovery. She indicated that this recognition of these 10 companies seeks to emphasize the close and cooperative relationship we maintain with companies that invest in priority areas for the country's development.
Awards
were given to companies that have stood out for their stability and strength in the Dominican economy and those with the longest track record, history and size in strategic economic sectors.
The following were recognized: Central Romana Corporation, Claro Dominicana, AES Dominicana, Gildan Activewear Dominican Republic, Barrick Pueblo Viejo, Meliá Hotels International, Cemex Dominicana, Nestlé Dominicana and DP World Caucedor.
Conference
During the activity, the keynote address 'Investments in the world: A view from and for the Dominican Republic' was also given by Amelia U. Santos-Paulino, PhD, head of the Research and Investment Affairs Section at the United Nations Conference on Trade and Development (UNCTAD).
The event, held at the Central Bank of the Dominican Republic Auditorium, was organized in collaboration with UNCTAD, Inicia, GB Energy, and Vinícola del Norte. It was a “Recognition of Foreign Direct Investment in the Dominican Republic” ceremony.
Source: Listín Diario
