{"id":6429,"date":"2022-05-03T00:44:00","date_gmt":"2022-05-03T00:44:00","guid":{"rendered":"https:\/\/www.dmklawyers.com\/?p=6429"},"modified":"2022-05-09T19:06:58","modified_gmt":"2022-05-09T19:06:58","slug":"foreign-investment-strengthens-its-weight-in-the-dominican-economy","status":"publish","type":"post","link":"https:\/\/dmklawyers.com\/en\/foreign-investment-strengthens-its-weight-in-the-dominican-economy\/","title":{"rendered":"Foreign investment strengthens its weight in the Dominican economy"},"content":{"rendered":"\n
The Dominican Republic is one of the main recipients of foreign direct investment (FDI) in the Central American and Caribbean region, with an annual average of around US$2.585 billion in the last twelve years.<\/p>\n\n\n\n
The official statistics from the Dominican Central Bank (BC) indicate that last year the country attracted US$3,085 million in FDI, the third highest level to date since 2010, exceeded only by US$3,142.4 million in 2012 and US$3,570.7 million in 2017.<\/p>\n\n\n\n
The fact that the Dominican Republic remains an attractive country for foreign investment, even in the midst of the effects of the COVID-19 pandemic, is a sign of the confidence that inspires the nation abroad.<\/p>\n\n\n\n
President Luis Abinader stated as such in his State of the Nation speech during the Joint Meeting of the National Congress on February 27. The president stressed that the measures of greater transparency in the public administration and better management of spending have improved the country\u2019s position in the eyes of the risk rating firms, which bodes well among foreign investors interested in both public debt and doing business here.<\/p>\n\n\n\n
Although the Dominican Republic is a country open to investment from any friendly country, the United States accounts for the greatest amount of foreign capital for business.<\/p>\n\n\n\n
Figures indicate that from 2010 to 2021 the Dominican Republic received foreign investments worth US$31,020 million, of which at least US$7,433.7 million (as of September 2021) is from the United States, representing 24% of the capital, i.e., almost a quarter.<\/p>\n\n\n\n
Second on the list in terms of private investment in the Dominican Republic is Canada, with a cumulative amount of US$4,908.1 million in the last twelve years.<\/p>\n\n\n\n * Foreign Direct Investment per country of origin. <\/strong>Figures in US$ millions. From 2010 to Sept.2021.<\/p>\n\n\n\n Among others, Barrick Pueblo Viejo allocated a significant part of this investment to the Cotu\u00ed gold mine, in S\u00e1nchez Ram\u00edrez province. Brazil is third on the list of source countries with foreign investments in the country with US $ 2,350 million accumulated. As well as Brazilian investments in the metallurgical area, especially rods, much of Brazil\u00b4s foreign investment is attributed to setting up the company Ambev here, which acquired the majority of shares in the Dominican National Brewery (CND).<\/p>\n\n\n\n The fourth country issuing investments to the Dominican Republic is Spain, with an accumulated contribution of US$2,035.2 million. The largest local investment from that nation is in the tourism sector.<\/p>\n\n\n\n In addition to being among the main generators of foreign exchange and taxpayers for the State, it is estimated that foreign-invested enterprises in the country account for around 35% of the gross domestic product (GDP).<\/p>\n\n\n\n
<\/a><\/figure>\n\n\n\nECONOMIC WEIGHT<\/strong><\/h2>\n\n\n\n