We previously pointed out that, in the face of the profound changes that are taking place in the global market and that intensify competition between countries and regions, the Dominican Republic is being showered with opportunities. How we avail ourselves of these opportunities depends entirely on our ability to respond. Moreover, we have said that the country is in a position to compete, to become the Syrian star of the Caribbean and Latin America, in a context where our main competitors \u2013 Chile, Mexico, Costa Rica, Panama and Colombia \u2013 are beginning to lose their luster. <\/p>\n\n\n\n
A recent CNN report confirms that this phenomenon is already underway. In their eagerness to reconfigure their supply chains, several U.S. companies are considering the Dominican Republic as a strategic solution. <\/p>\n\n\n\n
Such is the case of World Emblem, the world’s largest manufacturer of clothing labels, whose customers include the U.S. Department of Homeland Security, UPS, the NHL and Levi’s. Currently, the company produces 65% of its labels in Aguascalientes, Mexico. However, the levy of a 25% tariff by the U.S. government generated enough uncertainty for its chairman, Randy Carr, to decide to fly to the Dominican Republic in search of an alternative. It should be noted that World Emblem also produces another 30% of its products in China, a country that now faces a 30% tariff. <\/p>\n\n\n\n
The company plans to move between 30% and 35% of its manufacturing capacity to the Dominican Republic and has already announced the immediate construction of a 9,300-square-meter plant, which is scheduled to open next year. World Emblem expects to save millions of dollars annually. <\/p>\n\n\n\n
The report highlights several factors that make the Dominican Republic an attractive destination for investment: a stable government, a qualified workforce, geographical proximity to the United States and the free zone regime, where 60% of the national manufacturing industry is concentrated. Operating with significant tax exemptions, these free zones mean an important economic incentive for companies. <\/p>\n\n\n\n
Marino Auffant, founder of Auffant Global Advisory, a firm specializing in the development of public-private strategies aimed at promoting investment in manufacturing, highlights that several U.S. companies have recently initiated or announced their transfer from China to the Dominican Republic. <\/p>\n\n\n\n
Both the private sector and the Dominican Government are mobilizing rapidly in the face of this favorable situation generated by the transformation of world trade, aware that, as the proverb says: “Wisdom consists in recognizing the right moment and having the courage to act when opportunities knock.” <\/p>\n","protected":false},"excerpt":{"rendered":"
We previously pointed out that, in the face of the profound changes that are taking place in the global market and that intensify competition between countries and regions, the Dominican Republic is being showered with opportunities. How we avail ourselves of these opportunities…<\/p>\n","protected":false},"author":9,"featured_media":11520,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"_kad_blocks_custom_css":"","_kad_blocks_head_custom_js":"","_kad_blocks_body_custom_js":"","_kad_blocks_footer_custom_js":"","_kad_post_transparent":"","_kad_post_title":"","_kad_post_layout":"","_kad_post_sidebar_id":"","_kad_post_content_style":"","_kad_post_vertical_padding":"","_kad_post_feature":"","_kad_post_feature_position":"","_kad_post_header":false,"_kad_post_footer":false,"footnotes":""},"categories":[149],"tags":[],"class_list":["post-11522","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investment-in-dr"],"acf":[],"yoast_head":"\n