The President highlighted that in the last two years foreign investment has exceeded US$4,000 million
President Luis Abinader reported that foreign direct investment could reach 4,500 million dollars by the end of 2024, according to current projections.
“Projections indicate that by the end of 2024 we will reach 4,500 million dollars in foreign direct investment, which would be an unprecedented figure in the country’s economic history,” he said.
The President acknowledged the importance of free competition in propelling economic development and social welfare.
He went on to emphasize that the Government has prioritized public policies that promote an environment of healthy and equitable competitiveness, which has allowed it to exceed 4,000 million dollars in foreign investment in the last two years.
“In 2023, for the second consecutive year, foreign direct investment in our country exceeded 4,000 million dollars, beating record after record and reaching 4,390 million dollars, 45% more than the pre-pandemic year 2019,” he said.
According to the head of state, these investments have been directed to various economic sectors such as:
- Tourism
- Renewable energies
- Trade and industry
- Real estate
- Mining
- Free Trade Zones
- Telecommunications
Abinader valued the fact that the “country’ growth rates are double the estimated growth, both in terms of world economy and regional economy,” in a context where various reforms are being carried out that impact the attraction and expansion of foreign direct investment.
The President spoke while leading the opening ceremony of the Latin American and Caribbean Competition Forum (FLACC) 2024, which began this Wednesday at the Crowne Plaza Hotel.
The Forum will address the impact of fintechs and open banking
On Wednesday, October 9, the Latin American and Caribbean Competition Forum began, a two- day event aimed at promoting dialogue concerning competition law and policy.
During the FLACC, cutting-edge topics such as the impact of fintechs and open banking on competition, the regulatory challenges posed by digital markets and the measures necessary to combat cartels will be addressed.
The president of the National Commission for the Defense of Competition (ProCompetencia), María Elena Vásquez Taveras, host of the meeting, stressed that in this global scenario, competition law stands as a fundamental pillar to ensure that economies function in a fair and equitable manner, promoting innovation, efficiency and the well-being of the population.
“It is precisely in this context that the enormous importance of this forum lies. Through our exchanges, enriching debate and shared learning, we not only strengthen our technical capacities, but also consolidate a common vision on how to face current challenges, such as digitalization and globalization, which complicate anti-competitive practices,” he said.
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