The Dominican Republic must leave its “comfort zone” to channel foreign investment in other areas in which the country has development potential other than tourism nor in free trade zonebut first you need to prioritize your development goals.
For this, public authorities and private entities need redefine the areas to promote, with a “clear and simple” proposal that makes it easier for investors to make the decision to place their economic capital in the country, he told Free Daily Antonio Novaspartner at McKinsey & Company and manager of the firm in the Dominican Republic.
In general terms, Novas considered that tourism and free zones are lines known by international companies and their growth is generated organically. In this sense, he assured that, if actions are developed to balance the values of foreign investmentthe stronger the economy will be.
Health, infrastructure, technology and energy They are among the sectors that can continue to be promoted in the country to channel investment or to attract business agreements that generate benefits for the local economy.
For the expert, the energy sector It has a lot of potential in the country, especially since the government is executing an energy diversification plan for the generation matrix. In that order, he explained that investments can be channeled not only to install new projects, but also to intervene in supply processes.
“We see how 80 percent of energy depends on fossil fuels, such as oil, gas, etc., and that they are working to have more renewable energy. A lot of investment can be brought in from outside to execute those big projects, areas that need more infrastructures.”Partner at McKinsey & Company and manager of the firm in the Dominican Republic
both in energylike in education and health, foreign companies can invest to improve processes, build structures and streamline technological aspects. These lines are focal points of attraction for public-private partnerships.
When the investors plan to do business in a country first they ask what is the vision that this nation has, what is its purpose for the next three or four years and what type of infrastructure it has for each sector, stated Novas.
McKinsey & Company presented study in DR
The McKinsey & Company executive was interviewed by Free Daily after their participation in the presentation of the study “The world in a new era”, with which the firm exposed a series of economic trends that will set the course of business and government actions worldwide.
With the change of course that trade and the productive sectors have given after the consequences of the COVID-19 pandemic, and the pressures that were added with the geopolitical conflict between Russia and Ukraine, governments, rather than worry, must take care to do what is necessary to protect welfare of their economies.
During the interview, Novas explained that Dominican Republic is one of the countries better prognosis development and growth has, but recalled that the marked trends are a sign that decision makers must be prepared, without exception.
