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Wednesday, July 6, 2022

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US businessmen express interest in investing in the DR

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President Luis Abinader met virtually with the Dominican ambassador to the United States, Sonia Guzmán, who led a trade mission of companies with US capital that are planning to make investments in the Dominican Republic.

The companies Sky Power Global, Temple Allen Industries and Ridge Partners Línea Noroeste explained to President Abinader their projects and the benefits in terms of jobs and generation of opportunities that they could bring in the aeronautical and energy production sector of the Dominican Republic.

SkyPower Global, with a recognized international presence, presented a local manufacturing project for solar panels and generation of up to 500 megawatts of energy, identifying Pedernales as the ideal geographical area for said investment.

For its part, Temple Allen Industries expressed interest in regionalizing part of its operations from the Dominican Republic, taking advantage of the country’s conditions for nearshoring. The company manufactures aerospace ergonomic equipment for large aeronautical multinationals, such as Boeing, Airbus, Gulfstream, Lockheed, Embraer, as well as NASA, the US Air Force and the US Navy.

For its part, Ridge Partners Línea Noroeste, which recently signed a concession contract with the Dominican State for the production of diesel fuel from the use of waste and solid residues, presented its expansion plans to other regions of the country.

This company announced that it will soon begin the construction of a recycling plant in the Valverde province, which will produce around two million gallons of synthetic fuel per month for export.

During the meeting, Ambassador Guzmán highlighted her mission to communicate among investors from the United States the actions of the Dominican Government to strengthen democratic stability and transparency, legal certainty, the independence of the Public Ministry and the opening of business opportunities and competitive advantages. in the country.

According to a press release, President Abinader reiterated the importance of creating jobs in the country and highlighted the policies to improve conditions for investment, including the creation of the Investment Promotion Cabinet headed by Vice President Raquel Peña. .

The Vice Minister for Economic Affairs and Cooperation of the Ministry of Foreign Affairs, Hugo Rivera Fernández, and the commercial team of the Dominican Embassy in Washington, D.C., also participated in the meeting.

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