Political scientist Luis Gonzalez told Acento.com.do that the DR is on the verge of attracting major direct investments from People’s Republic of China, especially in transport infrastructure. He mentioned ongoing contacts with China National Complete Plant Import and Export Corporation (COMPLANT), already a major investor in Jamaica, and China Railway International Group Limited (CRIG).
He stressed there needs to be the political will of both governments to begin to explore joint ventures.
He mentioned that the Ministry of Public Works would be coordinating the construction of a railroad in the Dominican Republic.
Gonzalez also noted that next year the DR will be named the temporary president of the Community of Latin American and Caribbean States, which will improve the country’s standing globally and help attract investments. Gonzalez mentioned that during the first Ministerial Forum between the People’s Republic of China and CELAC, Chinese President Xi Jinping announced that China plans to invest US$250 billion in the region over the next 10 years.
“To gain access to those development funds it, will be necessary the demonstrate the political will of the Dominican government to cooperate with China.”
Gonzalez is a university professor and Secretary General of the Federation of Latin American and Caribbean Friendship with People’s Republic of China(Falcarpc).
Gonzalez believes that diplomatic ties with the People’s Republic of China could become a reality depending on the result of the January 2016 election in Taiwan. Currently, Taiwan and the DR have strong diplomatic ties. However, it has been said that if Hung Hsiu-chu of the KMT party defeats Tsai Ing-wen candidate for the DPP, closer relations with People’s Republic of China could be developed.
Gonzalez says that trade between People’s Republic of China and the DR is estimated to be around US$2 billion, an increase of 300% since 2008, when it was approximately US$600.
Read more in Spanish:
http://acento.com.do/2015/economia/8296211-experto-asegura-republica-dominicana-esta-en-buen-momento-para-captar-inversiones-chinas/
http://www.cccme.org.cn/shop/cccme9772/index.aspx
http://www.complant.com/ejituan1.htm