SANTO DOMINGO – The Governor of the Central Bank of the Dominican Republic (BCRD), Héctor Valdez Albizu, and the Executive Director of the Export and Investment Center of the Dominican Republic (ProDominicana), Biviana Riveiro Disla, signed a memorandum of collaboration between both institutions in order to raise the quality of services and institutional strategies in favor of promoting exports and foreign investment in the country, guaranteeing a future exchange of data with the due security and confidentiality of the information.
The purpose of the agreement is to coordinate efforts that promote the compatibility of their information systems, by establishing a set of uniform specifications, while preserving proper data handling.
Specific elements to be shared include: detailed information on foreign direct investment (FDI) by country, sector, origin or source of funds; updates to the directory of foreign companies in the Dominican Republic; as well as the exchange of economic and commercial information for the design of profiles and execution of promotional campaigns on business opportunities and competitive advantages of the country.
Likewise, the key information will be used in the creation of programs aimed at optimizing the projection of our country's market; the development of new collaboration mechanisms; along with joint support methodologies that weigh the opinions of companies that have invested or may invest in the Dominican Republic, in order to facilitate technical assistance to them.
For proper coordination and execution of the agreement, both institutions will designate specific officials, points of contact, as well as monitoring and consultation elements, a press release states.
The memorandum emphasizes the comprehensive security and confidentiality policy regarding information exchanged within their respective areas of competence. For all purposes, 'confidential information' shall be understood to mean all data identified as such, whether provided orally, visually, in writing, recorded on magnetic media, or distributed by any electronic means.
Valdez Albizu highlighted at the signing of the agreement “the importance of macroeconomic stability, along with the certainty and legal security that the country exhibits, for attracting both national and foreign direct investment”; and added that “at the Central Bank we believe in synergy with other institutions, with shared information being an ideal raw material for establishing strategies that position and consolidate a booming international market.”.
He also noted that foreign direct investment (FDI) in the Dominican Republic reached approximately US$2.15 billion in the first half of 2023, reflecting investor confidence in the fundamentals of the Dominican economy, and estimated that FDI would once again exceed US$4 billion by the end of this year.
For her part, Biviana Riveiro stated that “it is a privilege to materialize once again with this agreement the relationship that ProDominicana has historically maintained with the BCRD, considering that this organization is a provider of an invaluable source of information and has been key to guaranteeing a climate of trust for investment.”.
He also indicated that the Dominican Republic has achieved an excellent position abroad, thanks to, among other factors, a beneficial public-private synergy, the reduction of bureaucracy through the Single Window for Investment (VUI), and the availability of key information for decision-making and the establishment of strategic plans.”.
The governor was accompanied by the vice-governor, Clarissa de la Rocha de Torres; the manager, Ervin Novas Bello; the deputy manager of Monetary, Exchange and Financial Policies, Joel Tejeda Comprés; the legal consultant, Olga Morel; and the director of the International Department, Brenda Villanueva.
The executive director of ProDominicana was assisted by the deputy director general, Vladimir Pimentel; the director of Investment, Marcial Smester; the director of Intelligence, Carolina Pérez; and the legal officer, Anel Lluberes.
