President Danilo Medina received David Bohigian, acting president and CEO of the Overseas Private Investment Corporation (OPIC), on 21 May 2019. The meeting took place at the Presidential Palace. Bohigian was accompanied by US Ambassador Robin Bernstein. The OPIC is a self-sustaining US government agency that helps American businesses invest in emerging markets.
As reported, President Medina and Bohigian also discussed security cooperation in the Dominican Republic and the Caribbean. “Through closer coordination with valued partners such as the Dominican Republic to identify high-impact investment opportunities, we can build prosperous societies in the Caribbean and ensure greater security throughout the region,” Bohigian said.
Last March, in a meeting with Caribbean leaders, including President Danilo Medina, US President Donald Trump reaffirmed the US commitment to work with partners in the region to foster economic growth and strengthen cooperation.
“Private sector investment is a powerful engine for prosperity and stability,” said Bohigian. His visit to Santo Domingo is as part of a high-level OPIC delegation on a visit to the Caribbean to explore investment opportunities in the energy sector and other key sectors.
The Dominican Republic is the fourth stop on a tour of five Caribbean countries. The delegation has already visited the Bahamas, Jamaica and Haiti, and will then head to St. Lucia.
OPIC’s current portfolio in the Caribbean includes more than US$250 million invested in projects ranging from small business loans to power generation, agriculture and low-cost home mortgage loans.
Speaking to the press on his visit, Bohigian spoke of meeting key business leaders and government leaders to talk about key infrastructure, including ports and roads and other ways that we can support the Dominican economy. “We are also talking about how we can support entrepreneur and women and small and medium-sized businesses that will help build an inclusive economy for the 21st century,” he said. He explained upon his return to Washington, D.C. he will meet with US President Trump and the US Congress to highlight the many opportunities for doing business in the Dominican Republic.
During the visit to Santo Domingo, Bohigian toured the DP World Caucedo maritime terminal and free trade zone in Boca Chica accompanied by Caucedo’s executive Manuel Enrique Tavares. He also visited the nearby facilities of AES Dominicana, meeting with its directors.
As reported in Diario Libre, Bohigian spoke of the importance of the building of quality infrastructure that is enduring in time and that the Dominican Republic and the United States have done so for hundreds of years.
The visit of Bohigian comes at a time when the Dominican government has signed a memorandum of understanding with the government of China for the construction of the Port of Manzanillo in the north coast. Likewise, underway with the Chinese is a US$600 million loan for electricity transmission line improvements. There is also talk with the Chinese for the construction of a railroad to link the north and south of the Dominican Republic.
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Presidencia
Diario Libre
22 May 2019