CAMACOES RD has a membership of over 400 companies with 100% Spanish .
SANTO DOMINGO – Spanish Ambassador Antonio Pérez-Hernández y Torra highlighted Spain's position in the Dominican Republic yesterday, particularly regarding foreign investment, which " reached $668.4 million in 2023 , a historic record that solidifies Spain's position as the second largest investor." The diplomat emphasized sectors such as tourism and energy, underscoring Spain's status as the leading foreign investor in renewable energy in the country.
He highlighted the excellent economic relations between Spain and the Dominican Republic, which are undoubtedly "very important, but cannot be understood if they are not placed within the broader framework of our bilateral relations.".
He emphasized the investment of Spanish companies in the Dominican Republic and their long-term commitment , their desire to remain and their strong social and local involvement in the country, noting that many of them have made expansion decisions in this market even in difficult times and are international pioneers in different sectors.
Pérez-Hernández y Torra spoke during the presentation of the report "Spanish Companies in the Dominican Republic: Strategic Allies," released as part of the institution's centennial celebrations, under the auspices of the Official Spanish Chamber of Commerce in the Dominican Republic ( CAMACOES RD ), in collaboration with the Spanish Chamber of Commerce, the Embassy of Spain in the Dominican Republic, and the Embassy's Economic and Commercial Office.
The ambassador emphasized that Spanish companies established in the Dominican Republic are optimistic about their future and expect significant growth in the coming years. "Spain wants to continue playing a fundamental role in the Dominican economy as a responsible and reliable strategic partner," he stated.
Pilar Serret Murga, Antonio Pérez-Hernández y Torra, Francisco Pérez, Víctor Ito Bisonó and Jaime Montalvo. (EXTERNAL SOURCE).
Francisco Pérez opened the event, highlighting the importance of the document, emphasizing the contribution that Spain has made, primarily through investment and trade over the last century, to the development and prosperity of the Dominican Republic.
He also emphasized the importance that an organization like CAMACOES RD has had and continues to have in all of this, with a membership of over 400 companies, including companies with 100% Spanish capital, representing approximately 14%, and Dominican-Spanish or purely Dominican companies with working relationships with Spain. He also expressed his commitment to continue working to strengthen bilateral relations between the Dominican Republic and Spain.
Leading investor in Tourism
Jaime Montalvo, international director of the Spanish Chamber of Commerce, then presented the report, to which the Chamber has made a fundamental contribution, highlighting the commitment of Spanish companies to the Dominican Republic and their desire to remain there, from their beginnings to the present day.
Among other aspects, he highlighted the importance of this investment in the tourism sector, in which Spain is the main investor in the Dominican Republic worldwide, and the diversification it has recently undergone towards sectors of opportunity.
The Spanish ambassador, Antonio Pérez-Hernández y Torra, after thanking the Minister of Industry, Trade and SMEs, Ito Bisonó, for his presence, highlighted the importance of the report, which fills an important gap and demonstrates the importance of the contribution of Spanish companies to the country's economic and social development.
They reaffirm its importance
Since their arrival in the country, Spanish companies have reaffirmed their importance and commitment as strategic allies in the economic development and modernization of the Dominican Republic, consolidating their role in the economic development and modernization of the Dominican Republic throughout the 21st century. This reflects their confidence in the evolution of the Dominican economy, boosted by solid policies and firm institutional policy frameworks, recognized by the main multilateral institutions.
Finally, the Minister of Industry, Commerce, and SMEs concluded the presentation by highlighting that "Spanish investment has been fundamental to the development of various sectors of the Dominican economy. This relationship of trust and mutual growth has been made possible by the Dominican Republic's macroeconomic stability and an increasingly favorable business environment.".
The presentation also included the participation of the Minister of Industry, Commerce and MSMEs of the Dominican Republic, Victor Bisonó, the president of CAMACOESRD, Francisco Pérez, Pilar Serret Economic and Commercial Counselor of the Spanish Embassy and Jaime Montalvo international director of the Spanish Chamber of Commerce.
