President Danilo Medina met with Spanish Minister of Commerce Jaime Garcia Legaz at the Presidential Palace yesterday, Thursday 6 February. At a press conference after the meeting, Garcia was prompt to tell the press that Spanish investment in the DR totals more than US$4 billion and generates 70,000 direct jobs. He said the reason for his visit was to review economic and trade relations. He said that Spanish investment makes up 75% of foreign investment in the tourism sector. He said that Dominican businesses have invested EUR80 million in Spain.
“We are interested in assessing the status of Spanish investment in the Dominican Republic and working on how we can make it grow,” said Garcia at the press conference. He said that Spanish companies are pleased and proud of being able to contribute to the Dominican economy. The Minister said that he and President Medina discussed how both countries could work to strengthen the legal framework so that it can encourage more Spanish investment in the DR. He said they discussed agreements aimed at preventing double taxation of investors and for promoting the signing of funding agreements for social impact projects in the DR. Garcia Legaz was optimistic that the bill to this intent would soon pass in Congress.
Minister of the Presidency Gustavo Montalvo, Spanish ambassador Jaime Lacadena, deputy director general for commerce in Spain, Erick Rovira and ministerial cabinet representative, Beatriz Marin were also present at the meeting with President Medina.
http://presidencia.gob.do/comunicados/presidente-danilo-medina-recibe-al-secretario-de-comercio-de-espana
www.listindiario.com/economia-and-negocios/2014/2/6/309761/Busca-impulsar-las-inversiones
www.diariolibre.com/noticias/2014/02/06/i470781_repblica-dominicana-espaa-abogan-por-convenio-que-evite-doble-tributacin.html
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