The United States Embassy in the Dominican Republic reports that the US and the Dominican Republic governments have signed an agreement whereby the Ministry of Hacienda and the Overseas Private Investment Corporation (OPIC) agree to facilitate investment by US companies in the Dominican Republic.
The agreement was signed by Hacienda Minister Donald Guerrero and the president of the OPIC, Ray W. Washburne. It facilitates the use of OPIC’s loan guaranty and political risk insurance programs by US companies seeking to invest in the Dominican Republic, and updates procedures under a long-standing agreement between the governments of the United States and the Dominican Republic.
“We are delighted to formally announce that this process will streamline the ability for U.S. companies, backed by OPIC, to invest here in the Dominican Republic,” said Ambassador Bernstein in a press release. As explained, OPIC’s visit in December 2018 was the first step in highlighting the excellent opportunities available in the Dominican Republic and the agreement signing is the next step.
Minister Guerrero Ortiz explained that the “Operational Procedure for Government Approval of Projects” defines the manner in which the Ministry of Finance, on behalf of the Dominican government, will give its approval to projects that OPIC is considering financing or supporting in the Dominican Republic.
He said that the projects financed by this US financial institution are developed by the private sector and financed with private capital. “In this sense, we emphasize that they will not be developed with public support, they will not generate an increase in public debt and will not have any type of associated public guarantee, “said the official.
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US Embassy
Noticias SIN
El Caribe
7 February 2019
