Members of the Association of Industries of the Dominican Republic (AIRD) are planning to carry out a investment of 87,000 million pesos during the next year 2025. This initiative, as explained by Julio Virgilio Brache, president of the AIRDwill result in a significant generation of jobs of quality for the Dominican population.
“This is evident with the firm commitment of the industries that are part of the AIRD to invest 87,000 million pesos by the year 2025,” said Brache within the framework of the act of delivery of the 2024 Industrial Awards, an event that was headed by the President of the Republic, Luis Abinader.
Impact economic
In his speech, Brache highlighted the impact fundamental that the manufacturing sector has in the national economy. As detailed, the manufacture local represents 10.6% of the Gross Domestic Product (GDP) of the country and is responsible for 16% of all tax collections. In addition, it generates more than 147,000 jobs formal direct workers, whose salaries are higher than the private sector average.
“His contributions to the security social and individual pensions are higher than the economy average,” said the head of the AIRD.
Likewise, he highlighted that 93% of the loans granted to the manufacturing sector are classified as A or B, which demonstrates the solidity and reliability of companies in this area, well above the average of the loans commercials.
“This performance economic is the result of manufacture of products of very high qualitywhich not only supply the national market, but also export more than $2.7 billion annually to more than 80 countries,” said Brache.
“Made in RD”
The president of the AIRD He also highlighted the national pride that the seal initiative has generated Made in RDlaunched by the Ministry of Industry, Commerce and MSMEs. This seal aims to distinguish, promote and encourage products manufactured in the Dominican Republic, consolidating the prestige of the local industry both nationally and internationally.
The industrialization
“When a country industrializes, it becomes a key player in international value chains and reduces its dependence on the import of goods,” he added.
He said that the industrialization promotes innovation and adoption technologies advanced. “An industrialized country is capable of reducing vulnerabilities to economic crises and creating an ecosystem where both large companies and micro, small and medium-sized industries flourish, thus generating a virtuous circle of sustained growth,” said Virgilio Brache.
Julio Virgilio Brache, expressed that they also recognize industrial companies that, with their history, fill them with pride, as is the case – this year – of the Dominican National Brewery. Also, it recognizes architects of the development of the industrial sector, such as Elena Viyella de Paliza. Of the businesswoman, it was highlighted that she is “a leader who has shown constant signs of what a comprehensive commitment to the Dominican economy and society is.” In addition, the role of those who, through their initiatives, career and leadership, contribute to the promotion of Dominican industrial development was recognized.
