A report in Business Americas looks into what the Dominican Republic has to show for its new diplomatic relations with the People’s Republic of China. At the time of switching from Taiwan to China in May 2018, Foreign Minister Miguel Vargas had announced the country could expect up to US$3 billion in financing.
Business Americas says the country received a US$600 million loan in November 2018 to expand and improve the national electricity grid. It also mentioned that the state-owned construction firm, China Civil Engineering Construction (CCECC) has opened an office in Santo Domingo. There is talk of building the northeastern Dominican Republic-Haiti railway.
CCECC is reportedly also eyeing other initiatives such as the modernization of the Arroyo Barril port in Samaná, building the Alto Yuna dam and a power plant at the Boba-Baguí rivers, as well as an airport near San Francisco de Macorís, among others.
The Business Americas report also looks into what Jamaica and Trinidad have gotten from the Chinese.
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Business Americas
5 August 2019