
President Luis Abinader assured on Friday, 24 March 2023 when speaking during the Ibero-American Business Forum held as part of the 28th Ibero-American Summit that these are the best times to invest in the Dominican Republic and Ibero-America, notwithstanding the uncertainties and economic fluctuations in the international scenario.
President Luis Abinader in his keynote speech said that this is “the perfect scenario to take a leap and work for what unites us, makes us grow and provides us with development and growth for our community.”
He also assured that the Ibero-American region is alive; “it is vibrant and is at its best moment to invest.”
He said that the region is one of the main markets in the world and that now it is a question of continuing to grow, with one objective — to be an area of cooperation, justice, freedom of enterprise and rights.
During the closing ceremony of the 14th edition of the Ibero-American Business Meeting, held in Santo Domingo, President Abinader spoke of governments’ role in bolstering investment and reaching out to investors abroad. Abinader affirmed that the combination of creating jobs and opportunities “is the best social project.” Nevertheless, he mentioned his government has doubled the number of those who benefit from social programs, subsidies to fuel and fertilizers to guarantee food security in the Dominican Republic.
Abinader said that the close relationship between the business sector and government has enabled the Dominican Republic to weather the storm of the pandemic and the global economic crisis.
“I can say that the Dominican business community has acted with social conscience and commitment. We established a price table between the official and private sectors to see how each one could make their sacrifice so that inflation would not reach double digits,” Abinader recalled.
“This is the time to resume that conversation with the private sectors, which is the main reason for the growth of the Dominican economy. We have to redefine in the coming times a greater investment to be developed jointly with the public and private sectors,” he added.
In this sense, he advocated for facilitating investments with an honest and transparent administration through the reduction of bureaucracy and corruption levels.
During the same forum, the King of Spain, Felipe VI, had praise for the Dominican Republic showing an unbeatable economic performance with high growth rates of more than 5% and likewise attributed this to the dynamics of the private sector and the application of correct macroeconomic policies.
The King of Spain spoke of how the Dominican Republic has been a fundamental partner for Spain in different areas, the growing bilateral relations. He highlighted strong ties “especially in the economic area where our investment is very important both qualitatively and quantitatively.”
King Felipe VI highlighted that the Dominican Republic has a strong private sector committed to the challenges of the country, to achieve a lasting and stable growth, as well as the importance of close and adequate public-private collaboration for the achievement of the strategic objectives of an entire nation. He especially congratulated the country on its excellent performance in reactivating tourism. Spain is the largest investor in the Dominican tourism industry.
Around 1,500 business people from Ibero-America participated in the Business Forum. As part of the Summit, the Dominican Republic hosted the 14th Iberoamerican Summit of Young Businesspeople (CIJE), organized by the Iberoamerican Federation of Young Businesspeople (FIJE) and the local National Association of Young Businesspeople (ANJE). Jaime Senior spoke for ANJE, highlighting that constant transformation is based on cooperation, on the backing of initiatives that lead to dynamic and productive development that is interconnected and resilient.
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27 March 2023