Over the past 11 years, Spanish investors have made direct investments of approximately US$2,117.5 million, establishing themselves as the leading European investors in the country; with major investment projects in the provinces of La Altagracia and Santo Domingo, in the tourism, real estate, commerce, energy, and other sectors.
Before a group of Spanish businessmen from multiple sectors headed by Juan Luis Cebrián, president of the Chamber of Commerce of the Dominican Republic in Spain, Biviana Riveiro Disla, executive director of the Export and Investment Center of the Dominican Republic (ProDominicana), began her agenda in Madrid, Spain by presenting them with the investment and export opportunities of the Caribbean land.
The event took place yesterday, Monday the 16th, with the presence of the Dominican ambassador, Juan Bolívar Díaz, where Cebrián spoke about the strong trade relations with Spain and the desire to continue promoting trade relations.
During the meeting, the Dominican ambassador to the Kingdom of Spain highlighted President Abinader's vision of continuing to strengthen bilateral exchange.
Business climate
The director of ProDominicana highlighted that “the existing business climate in the country, marked by its political and economic stability and its continuous growth, is the reason why trade, investments, and the entry of Spanish tourists to the country have grown.
“Thanks to the substantial improvement in the country’s competitiveness and development, our economy has diversified and broken historical export records. Preliminary figures from the General Directorate of Customs indicate exports of more than US$12,390.9 million, and we will take a quantum leap in investment, reaching unprecedented figures close to US$4 billion. The Dominican Republic is taking steps to attract projects in various economic sectors such as commerce and industry, tourism, mining, energy, free trade zones, finance, telecommunications, and transportation,” stated Riveiro.
He said that “the institution’s objective is to showcase the diverse offerings of the country, as well as the attributes and conditions that make the Dominican Republic the leading Caribbean destination for investment projects.
Trade relations with Spain
For the annual period 2015-2022, the Dominican Republic's trade with Spain was approximately US$6,133.8 million, with 2022 being the year with the highest flow of imports and investments.
Regarding products exported to Spain, exports have been growing to pre-pandemic levels. Compared to 2020, in 2022 we reached almost US$100 million, representing a 57% increase, and compared to 2021, a 22% increase. The main exports are rum, with a 60% share, followed by ferronickel, cigars, cocoa, tobacco, avocados, ostomy instruments, and others.
Riveiro also stated that Spanish investors have made direct investments of approximately US$2,117.5 million over the past 11 years, consolidating their position as the leading European investor in the country; with major investment projects in the provinces of La Altagracia and Santo Domingo, in the tourism, real estate, commerce, energy, and other sectors.
ProDominicana presented the Single Investment Window of the Zero Bureaucracy Program, which puts the country at the forefront in the Latin American region, with a total of 13 institutions currently linked to this platform and the possibility of carrying out 29 procedures to expedite the investment process.
