The Importance of Foreign Investment in the Economic Growth of the Dominican Republic, Emphasized by President Abinader

Santo Domingo.- President Luis Abinader emphasized the fundamental role of foreign investment in the economic development of the Dominican Republic. Speaking at the presentation of the study, “Impact of Foreign Direct Investment (FDI) in the Dominican Economy: Let’s Double the Investment,” he outlined various strategies aimed at attracting and retaining foreign capital.

Abinader highlighted the country’s political stability and structural reforms as key attractions for investors. Among the measures implemented to create a favorable investment climate are tax incentives, simplified bureaucratic processes, and legal certainty. He also highlighted the importance of collaboration between the government, the private sector, and the international community for sustainable economic growth.

The President identified tourism, renewable energy, agribusiness, and technology as key sectors for future investments. These comments underscore the Dominican government’s commitment to fostering an environment conducive to investment and growth.

The event, held at the El Embajador Hotel in the capital, featured the participation of economist Alejandro Grisanti and included a tribute to Alfonso Paniagua Báez, former president of the Association of Foreign Investment Companies (Asiex). Alejandro Peña Prieto, president of Asiex, praised the attractive investment and legal security efforts that the country has made since 1985, noting that companies have invested more than 30 billion dollars in the Dominican Republic.

The Dominican Republic, which attracted around $4 billion in FDI in 2022, is positioned as a leader in Central America and the Caribbean and a prominent investment destination in Latin America. According to Grisanti’s research, the country is home to 659 major foreign investment companies, which contribute 18.8% to the Social Security Treasury. The fiscal contribution of FDI has increased 84% in dollars between 2018-2022, and the country plans to raise approximately US$4.3 billion in FDI this year.

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