ProDominicana presents the country in Spain as an ideal destination for business

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ProDominicana presenta al país en España como destino ideal para los negocios

Biviana Riveiro Disla, executive director of the Export and Investment Center of the Dominican Republic (ProDominican) began his agenda in Madrid, Spain with a presentation of investment and export opportunities in the Dominican Republic at a meeting with Spanish businessmen from multiple sectors headed by Juan Luis Cebrián, president of the Chamber of Commerce of the Dominican Republic in Spain.

    The activity was carried out on Monday 16 with the presence of the Dominican ambassador Juan Bolívar Díaz, where Cebrián spoke of the solid commercial relations with Spain and the desire to continue promoting commercial relations.

At the meeting, the Dominican ambassador to the Kingdom of Spain pointed out the vision of President Abinader to continue strengthening the bilateral exchange.

In the country presentation

The director of ProDominicana expressed that “the existing business climate in the country marked by its political and economic stability and its continuous growth is the reason why trade, investment and the entry of Spanish tourists to the country have grown.

“Thanks to the substantial improvement in the country’s competitiveness and development, our economy has diversified and has broken historical records in exports where the preliminary figures of the General Directorate of Customs indicate exports for more than US$12,390.9 million and we will make a quantum leap in investment reaching figures never seen close to $4 billion. The Dominican Republic takes steps to attract projects in various economic sectors such as trade and industry, tourism, mining, energy, free zones, finance, telecommunications, and transportation,” Riveiro said.

Riveiro expressed that “the objective of the institution is display the diversified offer that the country offers, as well as the attributes and conditions that make the Dominican Republic the main destination in the Caribbean for investment projects.

  

Trade relations with Spain

For the annual period 2015-2022, the commercial exchange of the Dominican Republic with Spain was approximately US$6,133.8 million, with 2022 being the year with the highest exchange flow of imports and investments.

In relation to the products exported to Spain, it has been growing at pre-pandemic levels, since in relation to the year 2020, in this 2022 we reached almost US$100 million dollars for a percentage increase of 57% and compared to 2021 an increase of 22 %. The main ones are rum, with a 60% participation, followed by ferronickel, cigars, cocoa, tobacco, avocados, instruments for ostomy use, among others.

Likewise, Riveiro affirmed that investors Spaniards in the last 11 years have made a direct investment of about US$ 2,117.5 millionestablishing itself as the main European investor in the country; with higher investment projects in the provinces of La Altagracia and Santo Domingo, in the tourism, real estate, commerce, energy and other sectors.

ProDominican presented the Single Investment Window of the Zero Bureaucracy Program which places the country at the forefront in the Latin American region, with a total of 13 institutions currently linked to said platform and the possibility of carrying out 29 procedures to expedite the investment process.

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