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Tuesday, November 30, 2021

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CEPAL places the Dominican Republic as the first destination for investors

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The Dominican Republic government states that direct foreign investment will exceed three billion dollars this year and that until July 2021 the country has captured investments of 1.17 billion.

They cited the studies published by the Economic Commission for Latin America (CEPAL) that place the Caribbean country as the first destination for Foreign Direct Investment.

In a press release, the Executive Power indicates that studies projections show that the Dominican Republic could end the year with about 3,36 billion dollars in investments.

“The origin of the investment is as varied as the productive sectors chose. The proposals come from the United States, Spain, Holland, Germany, France, Canada, Turkey, Mexico, Puerto Rico, Venezuela, and El Salvador,” the statement cites.

It maintains that those countries plan to invest in tourism, telecommunications, energy, agro-industries, construction, and entertainment.

Among the projects that stand out, within these investments, he mentioned the Spanish tourism firm Noval Properties and in the energy sector, Ridge Partners Línea Noroeste.

“Noval, recognized as one of the best real estate investment firms, plans to invest 434 million dollars. The American company Ridge will develop three energy projects, with an investment of 225 million dollars, to convert the solid waste of 25 localities of the northwest line on diesel fuel”, the document reveals.

It argues that the reasons for generating this appeal in the midst of the fight against the pandemic have to do with the dynamism of the economy, political stability, social peace, and the commitment to transparency of the administration of President Abinader.

“A report by BofA Global Research, a service of BofA Securities, the investment banking division of Bank of America, foresees for the Dominican Republic a growth of the Gross Domestic Product (GDP) of 10% by 2021”, adds the document.

The publication also highlights that the success of the National Vaccination Plan that places the country in the possibility of being this year among the few nations with the target population fully vaccinated.

It adds that this appreciation of the economy is shared by the International Monetary Fund, which also projects a strong economic recovery this year.

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