Santo Domingo.-Political stability, social peace and economic development are the main attraction for investment in the Dominican Republic, states the Official Chamber of Commerce of Spain in the Dominican Republic.
“The eyes of the world are on the Dominican Republic because this is a country with excellent social and political stability, which, in the midst of an international environment of polarization, makes investors see the Dominican Republic as a country with legal security and good profitability,” said Francisco Pérez, president of that union, highlighting that Spain has placed itself in second place in foreign direct investment for two consecutive years.
He explained that the amount reaches 1,126 million dollars and, when put in a European context, the investment of the European Union exceeds that of the United States by 400 million dollars. “In recent years, foreign investment from Spain has diversified, covering not only traditional sectors such as tourism, but also renewable energy, infrastructure and communication,” said the Spanish businessman during his participation in the Weekly Lunch of the Corripio Communications Group, in which he participated accompanied by Artur Cabré Rigat, first vice president; Ibán Campo, secretary; Manuel García Troncoso, president of the Dominican Week in Spain; the vice president of the headquarters, José Maldonado, and Servando Santana, secretary of the headquarters.
Pérez highlighted that, in addition, the Dominican Republic is attractive for investment due to its social and political stability, which positions it favorably for investors in the midst of an international environment of polarization.
For his part, José Maldonado highlighted that in recent years investment has been concentrated mainly in tourism, also pointing out the dynamism of the energy sector, driven by the capitalization of the electrical system and the Renewable Energy Law, whose incentives have turned this sector into one of the main recipients of foreign investment.
In that sense, Manuel García Troncoso reported that they will promote the country in Spain as a safe destination to make investments during the Dominican Week in Spain, a platform led by the private sector attached to the Chamber of Commerce, whose role is to promote investment from Spain to the Dominican Republic.
The delegation will not only be business, but will also have the participation of Dominican authorities, explained Manuel García Troncoso.
He said it will promote art and culture through the creative industry, highlighting the role of the diaspora and recognizing Dominicans who have inserted themselves into the Spanish market. The set of activities will take place from the 27th to the 30th, starting at the Meliá hotel, reported Servando Santana.
Opportunities
Francisco Pérez emphasized that there are opportunities for improvement, especially in infrastructure. “If we want a country to grow, we have to invest in roads, aqueducts, transportation and other sectors, and the Government is in that vision,” said Pérez.
For his part, Ibán Campo said that there is also a need to increase investment in education and the development of STEM skills, as well as the link with innovation and entrepreneurship, which require strengthening technological skills, since the new investment demands collaborators with specific skills.
Strengths
—1— Trade
Tobacco, rum, beer, cocoa, fruits and vegetables, main export products. In the opposite direction, Spain exports wine, oil, ham, food, beverages, textiles and construction materials.
—2— Employment
Spanish investment generates around 300 thousand direct jobs, of which around 60 thousand are in tourism.
European tourism will increase in the country
Visits. The Air Europa company foresees 600 thousand passengers from Spain to the Dominican Republic during next year.
The airline, which currently operates about 14 weekly flights to Punta Cana, Santo Domingo and Santiago, is leading, together with the Ministry of Tourism, a campaign to promote the country as a destination to visit in the main tourist-emitting countries of the European Union, said Francisco Pérez, from Air Europa.
“The average annual occupancy is between 85 and 90 percent,” said the businessman, pointing out that this year they plan to move more than 400,000 tourists.
The businessman explained that the airline sees a growth trend in corporate tourism from Spain to the Dominican Republic.
