Directors of the Dominican Week Foundation in Spain highlight specialized manufacturing, digital banking and training sectors Tourism, commerce, clean energy and logistics are among the sectors with the most Spanish investment in the Dominican Republic.
According to published figures, Spanish hotel investment in the country exceeds US$6,000 million, around 60% of the total in that sector.
Meanwhile, trade between the two countries was US$5,303.8 million between 2018 and 2023, according to the Dominican Export and Investment Center (Pro Dominicana).
The directors of the Dominican Week Foundation in Spain, Manuel García Troncoso and José Maldonado, president and vice president respectively, highlighted the importance of continuing to promote the Dominican Republic as an investment destination in Spain for different areas of importance for the national economy.
They said that Spanish investment in the energy and tourism sectors in the country are the largest. However, they emphasized that there are opportunities for other niches, including logistics, citing the city of Saragoza as the successful Spanish model, as it is the third most important hub in Europe.
They referred to the application of artificial intelligence (AI) in digital banking, due to the robust platform that Spain has in this area.
Human resources training was also mentioned in terms of attracting investments in manufacturing with greater added value, mirrored in the Dominican Government’s intentions with the National Strategy for the Promotion of the Semiconductor Industry.
Similarly, they referred to potential investments in a solid waste management plant, which would have a positive impact on the environment.
76% of the Spanish companies surveyed plan to increase their investments in Latin America during 2024, while 22% are committed to maintaining them. Only 2% expect to reduce them, according to the “Report on Spanish Investment in Ibero-America 2024.”
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