President Luis Abinader told the audience of business people gathered for the Americas Society/Council of the Americas Latin American Cities Conference Series conference at the JW Marriott on 12 April 2023 that the country is preparing to exercise a new role as a logistics hub in the global village of today. President Abinader said the conference serves as a platform for regional cooperation actions. He said the country is on a path that would lead to the doubling of the size of the economy within the next decade taking advantage of its central location.
Manufacturing (nearshoring), tourism, and investments in general continue to grow in the Dominican Republic due to the stability of the government and economy. The Dominican Republic has invested heavily in growing its air and sea ports and its road connectivity.
In her opening words at the conference, Vice President Raquel Peña says the Dominican Republic is prepared to be a logistics, production and recreation center at the service of the world. The country is taking advantage of its strategic location and proximity to important commercial destinations including the United States, an ideal place for developing nearshoring, a fundamental step in the optimization of supply chains.
The country is prepared to be a productive, logistic and recreational center at the service of the world due to its strategic location and proximity to important commercial destinations such as the United States, as well as for being the ideal territory for nearshoring, a fundamental step in the optimization of supply chains.
“We have invested in the expansion and modernization of infrastructure aimed at facilitating trade and participating more actively in the global exchange of goods and services,” said the Vice President.
Peña said that in order to promote a business climate as a detonator of competitiveness and dismantle barriers to investment, the country has a legal framework composed of laws, incentives and national and international agreements focused on attracting and protecting foreign capital.
The Vice President mentioned that the country seeks to increase the efficiency of public administration, through clear, timely and transparent regulatory frameworks that allow the simplification of procedures and services, as well as the improvement in the quality of regulations, through initiatives such as “Zero Bureaucracy”.
She stressed that in the midst of an agitated and uncertain world scenario, the country enjoys political stability and social peace, and that, in economic terms, it has been recognized worldwide for the rapid post-pandemic recovery, restoring jobs lost during the health crisis and recovering the most representative productive sectors, such as tourism.
“I am proud to say that our economic growth, our socio-political stability and social peace, our opportunities for expansion, our rich biodiversity, our warm and pleasant climate, as well as our available, motivated, trained and skilled labor force with facilities for high quality manual activities, have become visible in the eyes of the world,” said Peña.
Meanwhile, Susan Segal, President and CEO of the Americas Society/Council of the Americas, indicated that “it is very clear that the Dominican Republic is looking outward and that there are many opportunities for foreign investment and opportunities where the public and private sectors can work together”.
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Noticias SIN
Presidency
12 April 2023