The Dominican Republic has become the most important recipient of direct foreign investment in the Caribbean, thanks to its stable political and economic environment, said Dominican President Danilo Medina during the recently held Foreign Investment Forum (DR Invest 2014) attended by more than 250 international guests.
The event was held in Santo Domingo the first week in September.
During his keynote speech, delivered during the Forum’s opening ceremony, President Medina also revealed that in the last two years direct foreign investment in the country reached more than US$5 billion.
The country has become an important foreign investment recipient because of current national laws that support investment in the tourism, agriculture, renewable energy, and film industry sectors.
He mentioned that Law 158 offers excellent fiscal incentives, for up to 15 years, to new tourism facilities and to those that are currently refurbishing their existing facilities.
President Medina also mentioned the country’s dynamic tourism sector, and said that in 2013 an impressive five million tourists visited the Dominican Republic.
The Invest DR 2014 Forum was organized by the Dominican Republic’s Center for Export and Investment (CEI-RD), and was held at the recently inaugurated JW Marriott Santo Domingo Hotel.
Origin of Foreign Investment
Most foreign investment in the Dominican Republic originates in the United States (25%, US$6.4 billion); Canada (20%, US$5.1 billion); Spain (13%, US$3.5 billion); Mexico (6%, US$1.4 billion), and Brazil (5%, US$1.3 billion).