Thursday, March 23, 2023

Economic stability in the Dominican Republic is an attraction to attract foreign investment

Tourism is an attraction that is constantly attracting foreign direct investment. Only during January-September 2022, it generated US$759.2 million, this is equivalent to 23.7% of the total foreign capital invested in the Dominican Republic (US$3,190 million).

Investors who increase their capital in the country realize this. An example of this is Marriott International. “Everyone is talking about the Dominican Republic. Right now there is an excellent investment climate and we see that (you) have a presence at international fairs,” said the director of the multinational for the Dominican Republic and Haiti, Brock Hochhalter.

The complex provides 3,744 rooms distributed among nine hotel brands, while at a regional level they amount to more than 11,013 among 43 properties.

“We do not know how much investment we have in the country, because we invest in global marketing and we are always promoting both locally and internationally,” he added.

However, data from the Export and Investment Center of the Dominican Republic (ProDominicana) establish that the origin of capital flows comes from the United States with US$1,074 million, followed by Mexico and Canada with US$290.1 ​​million and US$265 million, respectively. .

Expand horizons

The Dominican economy depends to a large extent on the tourism sector, but the Government is clear that diversification will be key to ensuring permanence.

Likewise, participating businessmen and actors are aware that their investments can be directed towards new destinations, such as Punta Bergantín in Puerto Plata, Miches in El Seibo or Cabo Rojo in Pedernales.

“Our team is meeting with people who want to invest in the new destinations and we are interested in managing their operations in them,” he clarified. And is not for less. Only for the first stage of the development of Pedernales will have an investment of US$240 million for the construction of more than 1,000 rooms.


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