The governor of the Central Bank of the Dominican Republic (BCRD), Héctor Valdez Albizu, and the executive director of the Export and Investment Center of the Dominican Republic (ProDominicana), Biviana Riveiro Disla, signed a memorandum to improve the quality of institutional services and strategies for the promotion of exports and foreign investment in the DR.
The purpose of the agreement is to articulate the efforts that favor the compatibility of their information systems, through the establishment of a set of uniformity specifications, preserving a correct treatment of the data.
Among the specific elements that will be shared are: information on foreign direct investment (FDI) by country, sector, origin, or source of funds; updates to the directory of foreign companies in the Dominican Republic, as well as the exchange of economic and commercial information, for the design of profiles and execution of promotional campaigns on business opportunities and competitive advantages of the country.
Likewise, the key information will be used in the creation of programs aimed at optimizing the projection of our country’s market; the development of new collaboration mechanisms; together with joint support methodologies where the opinions of companies that have invested or may invest in the Dominican Republic are considered, in order to provide them with technical assistance.
For adequate coordination and execution of the agreement, both institutions will designate specific officials, points of contact, as well as follow-up and consultation elements.
The memorandum especially emphasizes the exhaustive policy of security and confidentiality of the information exchanged in their respective areas of competence. For all purposes, ‘confidential information’ shall be understood as all data identified as such, whether provided orally, visually, in writing, recorded on magnetic media, or distributed by any telematic means.
Upon signing the agreement, Valdez Albizu emphasized “the importance of macroeconomic stability, together with the certainty and legal security that the country exhibits, for the attraction of investment, both domestic and foreign direct investment” and added that “at the Central Bank we believe in synergy with other institutions, with shared information being an ideal raw material for establishing strategies to position and consolidate a booming international market”.
He also pointed out that foreign direct investment (FDI) in the DR reached some USD 2.15 billion in the first half of 2023, which reflects the confidence of investors in the fundamentals of the Dominican economy, estimating that FDI would again be above USD 4 billion by the end of this year.
For her part, Biviana Riveiro said that “it is a privilege to materialize once again with this agreement the relationship that ProDominicana has historically maintained with the BCRD, considering that the Central Bank is a provider of an invaluable source of information for ProDominicana, and has been key to ensuring a climate of confidence for investment”.
He also indicated that the Dominican Republic has achieved an excellent position abroad, thanks, among other factors, to a profitable public-private synergy, the reduction of bureaucracy through the Single Window for Investment (VUI), and the availability of key information for decision-making and the establishment of strategic plans”.
The governor was accompanied by the deputy governor, Clarissa de la Rocha de Torres; the manager, Ervin Novas Bello; the deputy manager of Monetary, Exchange and Financial Policy, Joel Tejeda Comprés; the legal consultant, Olga Morel, and the director of the International Department, Brenda Villanueva.
The executive director of ProDominicana was assisted by the deputy general manager, Vladimir Pimentel; the director of Investment, Marcial Smester; the director of Intelligence, Carolina Pérez; and the legal manager, Anel Lluberes.
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