Dominican Republic

“The Dominican Republic has a social peace that is not seen in other Latin American countries”

385views

Víctor Bisonó, Minister of Industry and Commerce of the Dominican Republic, encourages Spanish companies to invest in the country, which registers a GDP growth of 12%.

The Dominican Republic is the third safest country in Latin America and enjoys enviable political stability for many of its neighbors. The winds are blowing in favor of this old ally of Spain, whose economy grew at a rate of 12% in 2021. With this letter of introduction, Víctor Bisonó, Minister of Industry, Commerce and MSMEs of the Dominican Republic, accompanied by representatives of the private sector , is visiting Madrid, where he participated in the Spain-Dominican Republic Investment Forum before attending LA RAZÓN. Bisonó explained to Spanish businessmen some projects that may be attractive for our companies, such as highways, power plants or electric mobility, as well as the construction of a metropolitan train in the country’s capital.

How are bilateral relations with Spain?

Relations with Spain have always been very good regardless of the government that is. Spain is and has been a highly valued ally of the Dominicans. In the commercial field, it is a very important partner, the third. We have a very diverse exchange, with sectors such as tourism and emblematic products such as Dominican rum, Barceló rum, but there is also tobacco, avocado and cocoa, among other organic products.

Is the Dominican Republic a safer country than its neighbors?

The Dominican Republic not only offers social stability and economic stability, with reserves of 13,000 million dollars, but also political stability. We have a social peace that is not seen, unfortunately, in other countries from the South Pole as is the case of Chile, with the surprise of a change in the elections, to Peru, where there is a new government with four cabinet changes in a short time time, without losing sight of expectations in Colombia, with a possible change according to the polls that could be radically opposed to the current government. Not to mention El Salvador, Nicaragua or Venezuela and other countries in the region that do not show the strength that the Dominican Republic has.

What makes the country attractive?

Due to its geographical position, the Dominican Republic is the gateway to the largest market, which is the United States. There is a great opportunity being in the center of the Caribbean and in an interesting context of great change in the region that places us in an advantageous position thanks to the agreements we have with Europe (Economic Association Agreement, EPA) and the Caribbean (Cariforum) in addition to DR-CAFTA (Free Trade Agreement between Central America, the Dominican Republic and the United States).

The Dominican Republic is one of the countries with the highest economic growth. How is it explained?

So is. The IMF and the World Bank mark a growth for the Dominican Republic of 12% in 2021 and 5.5% for the next year, which is above the average for Latin America, which is 4%. We have understood that we have to work together between the public sector and the private sector, which accounts for around 90% of GDP. This generates investor confidence. We have seen it during the pandemic, where we have worked to help the strength over time of a country that is progressing.

In which sectors can Spain support the economic development of your country?

Spain currently has a significant investment in one sector, tourism, but we believe that it can go much further. President Luis Abinader is focused on producing quality employment opportunities not only for Dominicans, but also for foreigners. We have demand for construction materials in all senses. We import metals, ceramics, vehicles from Spain… but it can be much more. We are also improving agriculture and we have a lot to learn from Spain with its use of water and renewable energies.

From https://www.larazon.es

Leave a Response