Now is the best time to invest in the Dominican Republic, in the tourism, real estate, mining, energy, telecommunications, free trade zones and transportation sectors.
PUNTA CANA –The Dominican Republic is currently in vogue and is capitalizing on this trend to further expand its visibility, showcase its business opportunities, and open new doors to international markets. Attracting new investment is a key focus, and yesterday a conference was inaugurated in this area, reflecting this current trend.
The"first Caribbean and Saudi Arabia Investment Forum in the Dominican Republic" was inaugurated yesterday with the participation of 15 representatives from various countries who arrived at the meeting to learn about the proposals of the participating nations, through conferences and meetings where the various attractions will be presented.
The Ministry of Investment of the Kingdom of Saudi Arabia, Invest Saudi and the Association of Caribbean Investment Promotion Agencies (CAIPA), with the support of the Export and Investment Center of the Dominican Republic (ProDominicana), led the opening of the event.
"As part of their work agenda, they seek to strengthen the trade ties that unite them as a region and learn about the investment mechanisms of the Kingdom of Saudi Arabia," explained Biviana Riveiro, executive director of ProDominicana.
He opined that it is the best time to invest in the Dominican Republic, in the tourism, real estate, mining, energy, telecommunications, free trade zones and transportation sectors.
In terms of the Dominican Republic's relations with Saudi Arabia, trade totaled US$101.2 million between 2015 and 2021. By May 2022, this figure had risen to US$117.6 million, an increase of US$16.4 million. Furthermore, compared to 2020, Dominican Republic exports to Saudi Arabia in 2021 grew by 800%, according to a statement from the event.
Caipa Vice President and Jampro President Diane Edwards noted that the forum opens a new door to investment in the region, as more than 150 businesspeople and government representatives from investment promotion agencies are participating, “including ministers from Caribbean countries: Belize's Ministry of Education, Culture, Science and Technology.
Also the Ministry of Economic Development of Curacao; Ministry of Economic Affairs of the Bahamas; Ministry of Tourism and Investment of Jamaica; Ministry of Tourism, Investment and Economic Development of Antigua and Barbuda.”.
The head of the Saudi Arabian Kingdom delegation, Badr Albadr, deputy minister of the Ministry of Investment, indicated that the forum aims to create ties with the region and, within its responsibilities, identify Saudi investments abroad.
