Central Bank statistics position Dominican industry, commerce and free trade zones as the sectors that have generated the most foreign direct investment (FDI), with these three sectors totaling some US$ 311.2 million dollars following the implementation of the economic recovery plan led by the government of President Luis Abinader.
Actions led by the Ministry of Industry, Commerce and Mipymes such as the Relaunching of the Free Trade Zones, the Relaunching of the Tobacco Industry, the Presidential Round Table on Industrialization, and the support to Mipymes for the reactivation of their operations, have been key to promote the creation of formal jobs and reactivate economic activity.
According to statistics, which break down the flow of foreign direct investment according to the sixth balance of payments manual of the International Monetary Fund, during this year the Dominican Republic has achieved foreign investment flows from January to June for more than US$1,740.9 million.
The arrival of foreign direct investment to countries with high economic growth, such as the Dominican Republic, will translate into a rapid recovery of jobs. This trend towards the recovery of employment is reflected in the first half of 2021, as free zone companies have shown a sustained increase in employment, registering 171,016 direct jobs as of June 2021, with a growth of 5.9% with respect to the level of employment registered in January of this year. This increase stands out, especially in the subsectors of tobacco and its derivatives (8.4%), textile manufacturing (7.8%), services (4.6%) and electrical and electronic devices (3.6%), comparing the month of June 2021 with the month of January of the same year.
“From the public sector we are working cohesively with the private sector so that this industrial policy produces a real impact on the economy and development of the country,” said Minister Victor -Ito- Bisonó who stressed that these figures are a consequence of having declared industrialization as a national priority and an evident result of, for the first time, local industry and free zones working as a single muscle to energize the economy.
Source:
Hoy