Foreign Investment’s Pivotal in The Dominican Republic’s Economic Growth

• President Luis Abinader emphasised the critical role of foreign investment in the economic development of the Dominican Republic.
• Abinader highlighted the nation’s political stability and structural reforms as key attractions for investors. Tax incentives, streamlined bureaucratic processes, and legal certainty are among the measures implemented to create a favourable investment climate. He also stressed the importance of collaboration between the government, private sector, and international community for sustainable economic growth.
• The President identified tourism, renewable energy, agribusiness, and technology as key sectors for future investment. These remarks underscore the Dominican government’s commitment to fostering an environment conducive to investment and growth.
• The Dominican Republic attracted about US$4Bn in foreign direct investments (FDI) in 2022 and is positioned as a leader in Central America and the Caribbean and a prominent investment destination in Latin America.
• According to research, the country hosts 659 significant foreign investment companies, contributing 18.8% to the Social Security Treasury. FDI’s fiscal contribution has increased by 84% in dollars between 2018 and 2022, and the country projects to raise approximately US$4.3 billion in FDI this year.

(Source: Dominican Today)