Tourism alone saw an influx of US$1,385.50 million since 2020. The US, Mexico, and Spain lead foreign investment.
Taken from Diario Libre
SANTO DOMINGO. The highest amounts in the flow of foreign direct investment during the current presidency of Luis Abinader are being concentrated primarily in the tourism and real estate, followed by energy, commerce and industry, and free trade zones.
Among the most recent investments, the new Taíno Bay cruise and cargo terminal, inaugurated last Wednesday in Puerto Plata, stands out. The project represents an investment of US$80 million in its first phase. Launched during Danilo Medina's previous administration, the project was developed through a public-private partnership. The Mexican company ITM Group is a participant.
That day, Abinader also attended the reopening of the Senator hotel, a Spanish investment in Maimón, and spoke with investors in The Ocean Club, Luxury Collection Resort project, from the American chain Marriott, in Sosúa.
Foreign direct investment flows totaled approximately US$2,554.3 million in 2020, an amount lower than the US$3,021 million of 2019, a pre-pandemic year.
The figures, compiled by the Central Bank, also indicate that between January and June of this year, that flow has totaled US$1,740.9 million.
Where are the investments?
The United States is the country from which the largest flow of foreign direct investment in the Dominican Republic has come in the last two years, a trend that was also recorded in 2018 and 2019.
In 2020 and up to June of this year, US$1,564.2 million in investments came from the United States , representing 36.42% of the total.
The second country is Mexico, with US$572.7 million and 13.33% of total investment flows. It also ranked second in 2019, although it was not among the top recipients in 2018.
Mauricio Hamui, CEO of the Mexican company ITM Group, reported that the new terminal that was inaugurated in Puerto Plata last Wednesday creates more than 1,700 direct jobs and 3,500 indirect jobs.
Spain, a country that has historically invested in the Dominican tourism sector, is the third largest source of foreign investment during Abinader's administration, accounting for 7.01% of the total during the period in question. It also held this position in 2019.
Other countries from which foreign investment flows include Canada, Grand Cayman, the United Kingdom, Switzerland, the Netherlands, Italy, France, Denmark, Germany, Panama, the British Virgin Islands, Venezuela, Colombia, Brazil, and others.
