Dominican Republic, Primed for Investment

Dominican Republic, Primed for Investment

The IMF pegs the country as Latin America's second fastest-growing in 2023, with the World Bank projecting a 4.8% GDP rise – a prime opportunity for investors.

The current climate is ripe for investment in the Dominican Republic. With its display of economic resilience and burgeoning prospects, the nation has garnered significant attention, especially from the United States—a country that shares a deep bilateral bond with this Caribbean gem. In 2022 alone, the inflow of foreign direct investments reached a staggering US$4 billion. “The United States is undeniably our principal ally,” remarked Ambassador Sonia Guzmán, a key figure behind the 2005 Free Trade Agreement between the Dominican Republic, the US, and Central America (CAFTA).

This country has a lot of potential, not just in tourism.

Gonzalo Gil CEO, Scotiabank República Dominicana

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The country’s Central Bank was also instrumental in orchestrating a formidable post-pandemic comeback. “In 2021, the Dominican Republic witnessed an unparalleled 12.3% growth, leading Latin America,” declared Héctor Valdez Albizu, the bank's Governor. Committed to its constitutional autonomy, the bank ensured that its monetary policies remained impartial, devoid of political influence. “Such autonomy not only safeguards our fiscal and monetary policies but also strengthens our affiliations with renowned global institutions such as the Monetary Fund, World Bank, and the Inter-American Development Bank,” said Governor Albizu.

Leveraging this fortified position, the Dominican Republic has rolled out a plethora of lucrative business ventures. Highlighting current sectors ripe for investment, Scotiabank República Dominicana’s CEO Gonzalo Gil highlighted “immense potential” in construction, industry, free trade zones, retail, mining, and agribusines. Looking to the future though, the country has its gaze fixed on unconventional sectors. One notable example is the transformation of solid waste into energy sources. “Such avant-garde investment avenues are incredibly enticing for us,” noted Ambassador Guzmán.

In 2021, the Dominican Republic experienced exceptional growth of 12.3%.

Héctor Valdez Albizu Governor, Central Bank of the Dominican Republic

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The combination of these fresh avenues and the nation's solid bond with the US is bound to reinforce its economic foundation. “Our bond with the US signifies reliability, transparency, and a horizon brimming with promise,” stated the ambassador.


This article was published 6 October 2023
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