Dom Rep Foreign Investment Will Reach 4.4 Billion Dollars This Year

• President Luis Abinader presided over the inauguration of a new luxury hotel on Cayo Levantado, a development representing a €50 million investment in the Samaná province. The hotel is set to create over 500 direct job opportunities in the region.
• During the inauguration event, President Abinader highlighted the positive trends in foreign investments in the Dominican Republic. He noted that foreign investments are anticipated to reach $4.4Bn this year, up from $4.1Bn in the previous year. This upward trajectory in foreign investments signifies economic growth and increased investor confidence in the country.
• Abinader expressed his gratitude to investors for their commitment to promoting tourism and providing employment opportunities to Dominicans. He also mentioned that the tourism sector is expected to receive over $30Bn in investment next year.
• David Collado, the Minister of Tourism, revealed that investments totalling 1.7Bn pesos are currently underway in Samaná, with completion expected in January and February 2024. He also predicted that 2023 would be a record-breaking year for tourism, with over 10 million tourists expected to visit the country.
• Collado commended the government’s responsible approach to reopening the country to tourism during the pandemic, which played a pivotal role in the sector’s recovery. He highlighted the international recognition that the Dominican Republic has received for its remarkable rebound in the tourism industry.
• The newly inaugurated Cayo Levantado Resort boasts 218 rooms and represents a significant investment of over €50Mn. This resort has also become a source of employment for the province and surrounding areas, creating approximately 500 direct jobs, with a majority being Dominican citizens, contributing to the region’s economic and social growth.

(Source: Dominican Today)