Central Bank Governor Hector Valdez Albizu hosted a mission of French investors interested in doing business or expanding their business with the Dominican Republic. In a meeting with the business people, Valdez Albizu highlighted that political stability, social peace and the economic environment are guarantees for investments in the country. He also spoke of the satisfactory conditions for the repatriation of profits for foreign corporations.
Valdez Albizu told the potential investors that the Dominican economy grew by 5.1% in 2019, with a current account deficit of 1.4% and a depreciation of our currency against the dollar of 5.1%, with an annual average in recent years of 2.6%.
He also said that to further consolidate macroeconomic stability, international reserves reached US$ 8.78 billion as of December 2019, equivalent to 4.9 months of imports, excluding free zones, and about 10% of Gross Domestic Product, a value considered optimal by the International Monetary Fund. He added that foreign direct investment (FDI) surpassed US$3 billion in 2019.
The mission was led by French Ambassador Didier Lopinot, accompanied by executives from Alstom, BNP Paribas, BPI France, Cardinal, CMA CGM, INCS, JC Decaux, Maritime Street, MND Group, Pomagalski S.A. (POMA), Suez, Thales, Medef International, the French Development Agency (AFD), BID and Proparco.
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Banco Central
20 February 2020