Biviana Riveiro Disla, executive director of the Dominican Export and Investment Center (ProDominicana), indicated that US investments in the Dominican Republic reached a historical record of 1,362.3 million dollars, showing an 87% year-on-year growth rate compared to 2020, and 45% compared to 2021, based on official data from the Central Bank of the Dominican Republic.
According to a press release, U.S. investors continue to avail of the opportunities offered by the Dominican economy, at its highest flow in the last decade, accumulating 44% of the total foreign investment captured, which amounted to 3,102.1 million dollars in 2021.
Riveiro stressed that this flow of Foreign Direct Investment (FDI) accumulated last year is the third highest amount of capital raised in the last 20 years and is undoubtedly the result of the joint efforts between various Government bodies and promotion and support from the private sector already established in the country.
Similarly, the United States currently has 226 free zone companies operating and is the foreign country with the largest number of companies, accounting for 32.7% of the companies registered in this special scheme. It is also the country with the highest accumulated investment in this sector, amounting to US$ 1,926.1 and 37.1% of the total accumulated investment in the sector, according to the most recent data published by the National Council of Export Free Zones.
Other major sources of investments during 2021 were: British Virgin Islands with US$ 279 million and Denmark US$ 75 million. It is important to highlight the investment coming from Panama worth about US$ 98 million dollars, the highest value since 2009, and similarly, Switzerland with US$ 23 million higher than all years prior to 2008.
“This performance in attracting investments is the result of the country’s strategic participation in international events and fairs and the increase in the number of trade missions, which we promote from ProDominicana. Hand in hand with actions such as: efforts with high-impact diplomatic missions under the Ministry of Foreign Affairs and its Embassies and Consulates, concrete efforts by the Ministry of Industry and Commerce and the General Directorate of Customs, respectively, in fostering nearshoring and strengthening the Dominican Republic as a Logistics Hub, as well as the strengthening of the tourism industry that continues to be key in recovery and the outstanding economic performance shown by the country in the last year, “said Riveiro.
Source:
Diario Libre