Minister Bisonó highlights Dominican Republic as a Premier Investment Destination in Miami

• Víctor “Ito” Bisonó, the Minister of Industry, Commerce, and MSMEs (MICM), underscored the Dominican Republic's strategic strengths as a premier investment destination during the World Strategic Forum 2024: Prospering in the New Economy in Miami.
• He emphasised the nation’s transformation under President Luis Abinader, crediting strategic policies and sustainable development for what he called “the Dominican miracle.”.
• Bisonó outlined the Dominican Republic's strong post-pandemic recovery, highlighting a projected 5.1% economic growth for 2024—the highest in the region, as reported by the World Bank and IMF. He also emphasised Standard & Poor's recent credit rating upgrade to BB, reinforcing the nation’s economic stability and investor confidence.
• Foreign direct investment increased by 7.1% year-on-year in 2023, accounting for 41% of total inflows into Central America. The United States has been the leading contributor, representing 30% of investments over the past decade.
• Bisonó spotlighted the country’s readiness for nearshoring, particularly in the semiconductor and printed circuit industries. With incentives like decree 324-24 prioritizing semiconductor development, advantages include strategic location, robust logistics, eight international airports, top-ranked port connectivity, and skilled talent.
• Decree 324-24 is a Dominican Republic decree that was issued on June 13, 2024, to advance the country's semiconductor industry. Furthermore, Initiatives like “Zero Bureaucracy” and “24-hour Office” streamline processes, ensuring a business-friendly environment. “The Dominican Republic is not just a future opportunity—it’s a place to invest today,” he concluded.
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(Source: CarCris)