Comprometidos con el desarrollo de relaciones comerciales sólidas y beneficiosas
El gobierno de la República Dominicana reconoce el potencial que tiene estrechar las relaciones comerciales en el Caribe y está generando las condiciones para crear oportunidades de negocios, aumentar los contactos comerciales y facilitar encuentros empresariales.
Para Luis Abinader, fortalecer el liderazgo en las relaciones comerciales con valiosos socios en Jamaica y Bahamas es vital importancia. Su gobierno ha impulsado decididamente el fortalecimiento de las relaciones comerciales en el Caribe, aprovechando la proximidad geográfica entre los países para lograr un crecimiento y desarrollo socioeconómico compartido.
“Nuestra estrategia se centra en promover intercambios comerciales que generen un crecimiento regional conjunto en términos económicos, comerciales y sociales. Ya ocupamos una posición destacada en el liderazgo regional, y buscamos expandir la presencia de nuestros bienes y servicios, no solo en Jamaica y Bahamas, sino en toda la región. Aspiramos a convertirnos en un modelo de desarrollo económico para el Caribe”, afirma el presidente Luis Abinader.
Se han implementado acciones concretas, como el Plan Nacional de Fomento a las Exportaciones, la Estrategia de Exportación de Servicios Modernos, la Iniciativa de Conectividad Comercial Caribe y la Estrategia Nacional de Competitividad. Estos instrumentos respaldan la expansión de los productos dominicanos en el exterior, contribuyendo al crecimiento económico sostenible que ha venido experimentado el país en las últimas décadas.
En el período acumulado hasta octubre de 2023, el intercambio comercial entre la República Dominicana, Jamaica y Bahamas ascendió a US$578.6 millones. En 2022 se observó un aumento significativo del 36 % con respecto a 2021.
La proximidad geográfica y las excelentes relaciones entre los países son la base sólida para un intercambio comercial ampliado. Se estima un potencial de exportación para productores dominicanos de más de US$50 millones, lo que beneficiará a ambas naciones.
“Nuestra meta inmediata es impulsar nuestro dinamismo comercial y aprovechar la tenacidad y competitividad empresarial que caracteriza a nuestra nación. Como gobierno, nos enfocamos en convertirnos en uno de los principales proveedores de bienes y servicios para Jamaica y Bahamas, diversificando nuestra oferta exportable y fortaleciendo nuestras relaciones bilaterales”, expresa el presidente de la República Dominicana.
Señala, ademá que están explorando activamente la posibilidad de aumentar los flujos comerciales y las relaciones bilaterales, como parte de una estrategia más amplia de diversificación de la oferta exportable. “Buscamos crear condiciones que hagan nuestra economía más resistente a las fluctuaciones del comercio internacional”, agrega.
Desde la visión comercial con la región, ¿cuáles son los principales desafíos que enfrenta la República Dominicana en el ámbito empresarial y de negocios?
Algunos de los principales desafíos son los costos de transporte, la necesidad de una mayor participación internacional mediante participación en eventos y misiones comerciales, la apertura de nuevos mercados y, en el marco de la colaboración regional, reconocemos la importancia de compartir información clave sobre preferencias de consumidores y regulaciones comerciales, para lo cual hemos habilitado diversas plataformas con información técnica actualizada, como la herramienta de Requisitos de Acceso a Mercados Internacionales (RAMI), la cual facilita a los exportadores insertar sus productos de manera competitiva en los mercados caribeños.
¿Cuáles son las oportunidades de negocios más prometedoras entre República Dominicana y los países de la región?
Nos enfocamos en sectores estratégicos que ofrecen un potencial significativo para la expansión de nuestra oferta exportable y el impulso del intercambio comercial.
En el sector agrícola tenemos un gran potencial en productos como bananos, cacao y aguacates, y estamos consolidando nuestra posición como proveedores confiables en el mercado regional, comprometidos en eliminar barreras para la exportación, como se evidencia en la reciente aprobación para que nuestro aguacate acceda al mercado jamaicano.
En el sector agroindustrial, tenemos los jugos procesados, ron y aceite de soya, con lo que hemos diversificado nuestra oferta con un mayor valor agregado en estos productos para satisfacer las demandas cambiantes del mercado caribeño.
En el sector de la construcción, ofrecemos productos como cemento, barras de hierro y blocks. En el sector industrial, observamos un crecimiento en la demanda de instrumentos y aparatos de medicina, artículos de joyería y disyuntores eléctricos en la región. Estamos listos para satisfacer estas necesidades con productos de calidad y promover el desarrollo conjunto en el ámbito industrial.
Además de estos sectores, la República Dominicana ofrece oportunidades de inversión en áreas clave como energías renovables, infraestructura, sector inmobiliario, minería y tecnología.
Y con este panorama, consideramos fundamental establecer acuerdos de cooperación que fortalezcan los lazos entre nuestros territorios, generando corrientes de desarrollo sostenible.
¿Cuáles son las estrategias específicas que el gobierno está implementando para impulsar el éxito empresarial en la República Dominicana con miras a consolidar al país como líder regional?
Nuestras acciones están orientadas a fortalecer las relaciones comerciales, aprovechar las preferencias arancelarias y negociar nuevas oportunidades de cooperación bilateral. Algunas de las estrategias clave son:
Coordinación con ProDominicana y Cuerpos Diplomáticos: a través del Centro de Exportación e Inversión de la República Dominicana (ProDominicana) y nuestros cuerpos diplomáticos, hemos coordinado esfuerzos con socios comerciales clave en el Caribe, como Jamaica, Bahamas, Trinidad y Tobago, Puerto Rico y Guyana. Esto incluye aprovechar preferencias arancelarias y explorar nuevas oportunidades de cooperación.
Iniciativas de promoción: nos hemos comprometido con diversas iniciativas gubernamentales para fomentar el éxito empresarial, como la realización de la "Semana Dominicana" en Jamaica, la participación en el Caribbean Investment Forum 2023 en Bahamas y rondas estratégicas de negocios en América Latina y el Caribe.
Misiones Empresariales y Presidenciales: se han ejecutado misiones empresariales y presidenciales a destinos estratégicos, como la primera misión empresarial para la reactivación de las exportaciones de cárnicos a Estados Unidos, la visita a la República Cooperativa de Guyana y la recepción de delegaciones oficiales y empresariales de países del Caribe.
Eliminación de Barreras Burocráticas: hemos formalizado un plan para la eliminación de barreras burocráticas que puedan obstaculizar la concreción de negocios en el país, buscando facilitar el entorno empresarial.
Estabilidad Democrática y Crecimiento Económico: mantenemos la estabilidad democrática y el crecimiento económico como pilares fundamentales, respaldados por el Programa de Cumplimiento Normativo de Contratación Pública y el Plan General de Reforma y Modernización de la Administración Pública.
Leyes y Alianzas Estratégicas: hemos promulgado la Ley de Mejora Regulatoria y Simplificación de Trámites, y promovemos activamente las Alianzas Público-Privadas para estimular la inversión y el desarrollo.
Iniciativa de Conectividad Comercial Caribe: coordinamos con el MEPyD, MICM, CNC, ProDominicana, Caribbean Export y el BCIE la Iniciativa de Conectividad Comercial Caribe. Buscamos ampliar los esfuerzos de promoción hacia el Caribe como mercado estratégico y dar a conocer los mecanismos a favor de los exportadores dominicanos.
Estos esfuerzos reflejan la integración exitosa de los sectores público y privado para mejorar colectivamente nuestro país y promover el sector logístico como un nuevo motor dinámico de la economía dominicana.
¿Cómo se traducen esas estrategias en oportunidades concretas para las empresas dominicanas en el mercado internacional?
Gracias a las iniciativas público-privadas y acuerdos bilaterales, las empresas locales pueden considerar la región como un mercado estratégico para su expansión, posicionando a la República Dominicana como un referente y destino atractivo para otras empresas en la región.
La colaboración y asistencia entre instituciones públicas y cuerpos consulares facilitan a las empresas el acceso a información estratégica sobre el comportamiento y las tendencias del consumidor en cada país caribeño. Esta información es esencial para diseñar estrategias que aprovechen nuevas oportunidades y permitan la introducción de la oferta de manera competitiva.
En este contexto, la integración de la inteligencia de mercados se convierte en una herramienta clave para el acceso y monitoreo adecuado del mercado. Esto incluye la negociación con potenciales compradores y el desarrollo de elementos innovadores y de alta calidad. Estas prácticas fortalecen la competitividad de la oferta exportable dominicana en la región del Caribe.
Con la información obtenida, las empresas pueden diseñar estrategias que les permitan penetrar en nuevos mercados y destacarse por su innovación y calidad. La base para la alta competitividad de la oferta exportable dominicana en el Caribe radica en la capacidad de adaptarse a las preferencias del consumidor, y ofrecer productos y servicios que satisfagan sus necesidades.
¿Cuál es la importancia de la innovación y la tecnología en el crecimiento empresarial, especialmente en industrias claves para la República Dominicana?
Desde el inicio de nuestra administración, hemos promovido la idea de que en un mundo globalizado y en constante cambio tecnológico, las empresas deben estar a la vanguardia para aprovechar las oportunidades en los mercados internacionales.
La transformación digital es esencial para alcanzar una posición destacada en los mercados internacionales. Reconocemos que el desarrollo de las tecnologías y su aplicación en las empresas depende en gran medida del talento humano. La transformación digital no solo posiciona los productos en los mercados internacionales, sino que también busca mejorar la calidad de vida de los dominicanos y crear condiciones propicias para el desarrollo de recursos humanos de clase mundial.
Nuestro impulso a una Estrategia de Innovación, la Estrategia de Inteligencia Artificial y la Estrategia de Competitividad, junto con facilidades para el aprendizaje del idioma inglés y la ampliación de becas para estudios en el exterior, reflejan nuestro compromiso estatal para proporcionar a las empresas el capital humano clave necesario para la innovación y la competitividad. Estamos firmemente convencidos de que la innovación y la tecnología son motores imprescindibles para el crecimiento sostenible de la República Dominicana.
¿Cuál es la visión de su gobierno sobre la sostenibilidad empresarial y cómo se refleja en las políticas de promoción en negocios internacionales?
Tenemos una clara visión sobre la sostenibilidad empresarial, que se basa en reconocer a nuestros empresarios como verdaderos motores de crecimiento. Entendemos que son creadores de valor en la producción de bienes y servicios, generadores de empleos y contribuyentes fundamentales al fortalecimiento fiscal de nuestro Estado.
Por esto hemos implementado políticas que fomentan la competitividad a través de la optimización de procesos y la incorporación de nuevas tecnologías para reducir costos. Creemos en el papel crucial de las empresas en el desarrollo del país, no solo como generadoras de riqueza, sino también como impulsores de mejoras en la calidad educativa y en la oferta de servicios esenciales.
En el ámbito internacional, nuestras instituciones gubernamentales, en especial ProDominicana, actúan como facilitadores del comercio y siguen el Plan Nacional de Fomento a las Exportaciones. Buscamos crear un ambiente propicio para iniciativas de investigación y desarrollo en todo el país, trabajando en conjunto con el sector privado y académico.
Dentro de las medidas estratégicas que hemos identificado en el Plan Nacional de Fomento a las Exportaciones, destacamos el apoyo a la investigación, innovación y desarrollo de nuevos bienes y servicios, la promoción de actividades biotecnológicas y el respaldo a la adaptación de cultivos al cambio climático.
¿Cuáles son los incentivos que ofrece la República Dominicana para atraer inversionistas extranjeros y promover la inversión en la región? ¿Qué sectores considera son prioritarios?
En la República Dominicana, ofrecemos un entorno de negocios atractivo, estable y confiable para los inversionistas extranjeros, consolidándonos como el principal destino de inversión extranjera en Centroamérica y el Caribe. Hemos atraído inversiones de más de cincuenta y cinco países, evidenciando la confianza en nuestra economía en expansión, con un crecimiento del 4.9 % en 2022.
En 2022, la Inversión Extranjera Directa (IED) alcanzó los $4,010 millones, marcando un récord histórico y un aumento del 25.5 % en comparación con 2021. Este desempeño refleja la estabilidad política y económica, el marco legal favorable y la mejora constante de nuestra infraestructura. Estos factores combinados posicionan a la República Dominicana como un destino confiable y atractivo para los negocios.
Tenemos una legislación moderna para Alianzas Público-Privadas, respaldada por una Dirección General dedicada a estructurar, promover y regular estas alianzas.
Ofrecemos un extenso marco de beneficios y exenciones fiscales para empresas que buscan oportunidades en diversos sectores económicos. Contamos con Zonas Francas, Zona Especial de Desarrollo Fronterizo e Industrias calificadas a través de PROINDUSTRIA. Además, legislaciones especiales respaldan sectores estratégicos como textiles, industria cinematográfica, y energías renovables, donde somos referentes regionales.
Destacamos en el turismo, reconocidos mundialmente por nuestra rápida recuperación post pandemia y por ser el destino con mejor desempeño turístico a nivel internacional en dos ocasiones consecutivas. Estamos comprometidos en mantenernos como la mejor opción para aquellos que buscan llevar a cabo proyectos de inversión en nuestra vibrante economía.
En términos de posicionamiento de RD en el Caribe, ¿hay algún proyecto o iniciativa a largo plazo que entusiasme particularmente?
El objetivo de convertirnos en un HUB regional representa una visión que debe generar mucho entusiasmo, ya que alinea nuestro país con el crecimiento y desarrollo sostenible. Este proyecto no sólo tendrá un impacto en la modernización de nuestras instituciones relacionadas con el comercio internacional, sino que también impactará positivamente la industria local, nuestras infraestructuras de transporte y comunicación, y, evidentemente, en el fortalecimiento de la cultura exportadora. Por vía de consecuencia, esto significa generar mayores riquezas, más empleos y bienestar para las familias dominicanas; y, en general, un mayor crecimiento de la economía nacional.
Nos entusiasma enormemente la Iniciativa de Conectividad Comercial Caribe, una iniciativa a largo plazo desarrollada por el gobierno de la República Dominicana, coordinada por el MEPyD, MICM, CNC y ProDominicana, con el respaldo de aliados estratégicos como Caribbean Export y el Banco Centroamericano de Integración Económico (BCIE).
El propósito central de esta iniciativa es resaltar el vasto potencial comercial existente entre la República Dominicana y los países del Caribe, consolidando a nuestro país como un aliado estratégico para el comercio internacional en la región. Esta iniciativa se alinea con nuestros planes de desarrollo y fomento al comercio, especialmente con el Plan Nacional de Fomento a las Exportaciones.
¿Cuáles son las expectativas para el futuro de las relaciones comerciales, empresariales y de negocios entre la República Dominicana, Jamaica y Bahamas?
La República Dominicana se encuentra en un momento sin precedentes en sus relaciones con el Caribe, y las expectativas para el futuro de las relaciones comerciales entre la República Dominicana, Jamaica y Bahamas son particularmente prometedoras. Existe un gran potencial de crecimiento y un mejor aprovechamiento de las facilidades proporcionadas por el acuerdo de libre comercio con la CARICOM. Tanto Jamaica como Bahamas representan mercados con posibilidades de expansión que están siendo cada vez más explorados por los empresarios, quienes han comenzado a identificar este potencial y ven en estos mercados socios estratégicos clave.
En el caso de Jamaica, hemos dado pasos firmes para incrementar y robustecer nuestras relaciones comerciales. Jamaica se ha convertido en nuestro segundo socio comercial más importante en el Caribe. El crecimiento sostenido en el flujo comercial entre ambos países desde 2021 beneficia no solo a la República Dominicana, sino también a Jamaica, que ha experimentado un aumento significativo en su intercambio comercial con nuestro país en el último año.
En cuanto a Bahamas, la designación de una embajadora dominicana en este país marca un paso crucial en nuestras relaciones bilaterales. Ambos gobiernos están comprometidos en profundizar estos lazos, y las expectativas comerciales son muy prometedoras.
Es fundamental que los empresarios dominicanos vean en estas naciones vecinas oportunidades privilegiadas para expandir sus negocios, tanto en exportaciones como en inversiones. Varios ejemplos exitosos ya existen, con empresas dominicanas invirtiendo con éxito en Jamaica, y se esperan nuevas inversiones en países como Guyana y otros del Caribe.
¿Qué mensaje quisiera transmitir a los empresarios y líderes de Jamaica y Bahamas que están interesados en invertir en la República Dominicana?
A los empresarios y líderes de Jamaica y Bahamas interesados en invertir en la República Dominicana, les extendemos una cordial invitación para explorar las abundantes oportunidades que nuestro país tiene para ofrecer. La República Dominicana se encuentra preparada para recibir sus inversiones con los brazos abiertos, respaldada por leyes y sistemas diseñados para proteger y potenciar sus negocios.
Con un entorno favorable para la inversión extranjera, brindamos estabilidad y sectores comerciales estratégicos que nos posicionan como una economía líder en la región de América Latina y el Caribe. Además, ofrecemos considerables incentivos que hacen de la República Dominicana un destino altamente atractivo para aquellos que buscan expandir sus operaciones.
Les exhortamos a explorar estas oportunidades y a ser partícipes de una colaboración fructífera que no solo beneficie a sus empresas, sino que también contribuya al crecimiento y desarrollo mutuo de nuestros países.
Committed to developing strong and beneficial trade relations
Luis Abinader Corona, President of the Dominican Republic
The government of the Dominican Republic recognizes the potential for closer trade relations in the Caribbean and is creating the conditions to create business opportunities, increase commercial contacts and facilitate business meetings.
For Luis Abinader, strengthening leadership in trade relations with valued partners in Jamaica and the Bahamas is of vital importance. His government has strongly promoted the strengthening of trade relations in the Caribbean, taking advantage of the geographic proximity between the countries to achieve shared socioeconomic growth and development.
"Our strategy is focused on promoting commercial exchanges that generate joint regional growth in economic, commercial and social terms. We already occupy a prominent position in regional leadership, and we seek to expand the presence of our goods and services, not only in Jamaica and the Bahamas, but throughout the region. We aspire to become a model of economic development for the Caribbean," says President Luis Abinader.
Concrete actions have been implemented, such as the National Export Promotion Plan, the Modern Services Export Strategy, the Caribbean Trade Connectivity Initiative and the National Competitiveness Strategy. These instruments support the expansion of Dominican products abroad, contributing to the sustainable economic growth that the country has been experiencing in recent decades.
In the cumulative period through October 2023, trade between the Dominican Republic, Jamaica and the Bahamas amounted to US$578.6 million. In 2022, a significant increase of 36% over 2021 was observed.
The geographical proximity and excellent relations between the countries are the solid basis for an expanded trade exchange. Export potential for Dominican producers is estimated at more than US$50 million, which will benefit both nations.
"Our immediate goal is to boost our commercial dynamism and take advantage of the tenacity and business competitiveness that characterizes our nation. As a government, we are focused on becoming one of the main suppliers of goods and services to Jamaica and the Bahamas, diversifying our export offer and strengthening our bilateral relations", said the President of the Dominican Republic.
He also notes that they are actively exploring the possibility of increasing trade flows and bilateral relations, as part of a broader strategy to diversify the exportable supply. "We seek to create conditions that make our economy more resilient to fluctuations in international trade," he adds.
¿From the commercial vision with the region, what are the main challenges facing the Dominican Republic in the business and entrepreneurial sphere?
Some of the main challenges are transportation costs, the need for greater international participation through participation in events and trade missions, the opening of new markets and, within the framework of regional collaboration, we recognize the importance of sharing key information on consumer preferences and trade regulations, for which we have enabled various platforms with updated technical information, such as the Requirements for Access to International Markets (RAMI) tool, which facilitates exporters to insert their products competitively in Caribbean markets.
¿What are the most promising business opportunities between the Dominican Republic and countries in the region?
We focus on strategic sectors that offer significant potential for expanding our export offer and boosting trade.
In the agricultural sector, we have great potential in products such as bananas, cocoa and avocados, and we are consolidating our position as reliable suppliers in the regional market, committed to eliminating export barriers, as evidenced by the recent approval for our avocado to access the Jamaican market.
In the agro-industrial sector, we have processed juices, rum and soybean oil, diversifying our offer with a higher added value in these products to meet the changing demands of the Caribbean market.
In the construction sector, we offer products such as cement, iron bars and blocks. In the industrial sector, we are seeing growing demand for medical instruments and devices, jewelry, and electrical circuit breakers in the region. We are ready to meet these needs with quality products and promote joint industrial development.
In addition to these sectors, the Dominican Republic offers investment opportunities in key areas such as renewable energy, infrastructure, real estate, mining and technology.
Against this backdrop, we consider it essential to establish cooperation agreements that strengthen the ties between our territories, generating sustainable development flows.
¿What are the specific strategies that the government is implementing to boost business success in the Dominican Republic with a view to consolidating the country as a regional leader?
Our actions are aimed at strengthening trade relations, taking advantage of tariff preferences and negotiating new opportunities for bilateral cooperation. Some of the key strategies are:
Coordination with ProDominicana and Diplomatic Corps: through the Dominican Republic Export and Investment Center (ProDominicana) and our diplomatic corps, we have coordinated efforts with key trade partners in the Caribbean, such as Jamaica, Bahamas, Trinidad and Tobago, Puerto Rico and Guyana. This includes taking advantage of tariff preferences and exploring new opportunities for cooperation.
Promotional initiatives: We have engaged in various government initiatives to foster business success, such as the "Dominican Week" in Jamaica, participation in the Caribbean Investment Forum 2023 in the Bahamas, and strategic business rounds in Latin America and the Caribbean.
Business and Presidential Missions: We have carried out business and presidential missions to strategic destinations, such as the first business mission for the reactivation of meat exports to the United States, the visit to the Cooperative Republic of Guyana, and the reception of official and business delegations from Latin American and Caribbean countries.
Elimination of Bureaucratic Barriers: we have formalized a plan for the elimination of bureaucratic barriers that may hinder business in the country, seeking to facilitate the business environment.
Democratic Stability and Economic Growth: we maintain democratic stability and economic growth as fundamental pillars, supported by the Public Procurement Compliance Program and the General Plan for the Reform and Modernization of the Public Administration.
Laws and Strategic Alliances: we have enacted the Law for Regulatory Improvement and Simplification of Procedures, and we actively promote Public-Private Alliances to stimulate investment and development.
Caribbean Trade Connectivity Initiative: we coordinated with the MEPyD, MICM, CNC, ProDominicana, Caribbean Export and CABEI the Caribbean Trade Connectivity Initiative. We seek to expand our efforts to promote the Caribbean as a strategic market and to publicize the mechanisms in favor of Dominican exporters.
These efforts reflect the successful integration of the public and private sectors to collectively improve our country and promote the logistics sector as a new dynamic engine of the Dominican economy.
¿How do these strategies translate into concrete opportunities for Dominican companies in the international marketplace?
Thanks to public-private initiatives and bilateral agreements, local companies can consider the region as a strategic market for expansion, positioning the Dominican Republic as a benchmark and attractive destination for other companies in the region.
Collaboration and assistance between public institutions and consular bodies provide companies with access to strategic information on consumer behavior and trends in each Caribbean country. This information is essential for designing strategies that take advantage of new opportunities and allow the introduction of competitive offerings.
In this context, the integration of market intelligence becomes a key tool for adequate market access and monitoring. This includes negotiation with potential buyers and the development of innovative and high quality elements. These practices strengthen the competitiveness of Dominican exports in the Caribbean region.
With the information obtained, companies can design strategies that allow them to penetrate new markets and stand out for their innovation and quality. The basis for the high competitiveness of Dominican exports in the Caribbean lies in the ability to adapt to consumer preferences and offer products and services that meet their needs.
¿What is the importance of innovation and technology in business growth, especially in key industries for the Dominican Republic?
Since the beginning of our administration, we have promoted the idea that in a globalized world and in constant technological change, companies must be at the forefront to take advantage of opportunities in international markets.
Digital transformation is essential to achieve a leading position in international markets. We recognize that the development of technologies and their application in companies depends largely on human talent. Digital transformation not only positions products in international markets, but also seeks to improve the quality of life of Dominicans and create conditions conducive to the development of world-class human resources.
Our push for an Innovation Strategy, the Artificial Intelligence Strategy and the Competitiveness Strategy, along with facilities for English language learning and the expansion of scholarships for study abroad, reflect our state commitment to provide businesses with the key human capital necessary for innovation and competitiveness. We firmly believe that innovation and technology are essential drivers of sustainable growth in the Dominican Republic.
¿What is your government's vision on corporate sustainability and how is it reflected in the policies for promoting international business?
We have a clear vision on business sustainability, which is based on recognizing our entrepreneurs as true engines of growth. We understand that they are value creators in the production of goods and services, generators of jobs and fundamental contributors to the fiscal strengthening of our State.
For this reason, we have implemented policies that promote competitiveness through the optimization of processes and the incorporation of new technologies to reduce costs. We believe in the crucial role of companies in the development of the country, not only as generators of wealth, but also as drivers of improvements in the quality of education and the supply of essential services.
In the international arena, our government institutions, especially ProDominicana, act as trade facilitators and follow the National Export Promotion Plan. We seek to create an enabling environment for research and development initiatives throughout the country, working together with the private sector and academia.
Among the strategic measures we have identified in the National Export Promotion Plan, we highlight support for research, innovation and development of new goods and services, the promotion of biotechnological activities and support for the adaptation of crops to climate change.
¿What incentives does the Dominican Republic offer to attract foreign investors and promote investment in the region? What sectors do you consider to be priorities?
In the Dominican Republic, we offer an attractive, stable and reliable business environment for foreign investors, consolidating our position as the main destination for foreign investment in Central America and the Caribbean. We have attracted investments from more than fifty-five countries, evidencing confidence in our expanding economy, with a growth of 4.9% in 2022.
In 2022, Foreign Direct Investment (FDI) reached $4.01 billion, marking an all-time record and an increase of 25.5% compared to 2021. This performance reflects the political and economic stability, the favorable legal framework, and the constant improvement of our infrastructure. These factors combined position the Dominican Republic as a reliable and attractive destination for business.
We have modern legislation for Public-Private Partnerships, backed by a General Directorate dedicated to structuring, promoting and regulating these alliances.
We offer an extensive framework of benefits and tax exemptions for companies seeking opportunities in various economic sectors. We have Free Trade Zones, Special Border Development Zone and qualified industries through PROINDUSTRIA. In addition, special legislation supports strategic sectors such as textiles, the film industry, and renewable energies, where we are regional leaders.
We stand out in tourism, recognized worldwide for our rapid post-pandemic recovery and for being the destination with the best international tourism performance on two consecutive occasions. We are committed to remaining the best option for those seeking to carry out investment projects in our vibrant economy.
¿In terms of positioning the DR in the Caribbean, are there any long-term projects or initiatives that you are particularly excited about?
The goal of becoming a regional HUB represents a vision that should generate a lot of enthusiasm, as it aligns our country with sustainable growth and development. This project will not only have an impact on the modernization of our institutions related to international trade, but will also have a positive impact on local industry, our transportation and communication infrastructure, and, obviously, on the strengthening of the export culture. Consequently, this means generating greater wealth, more jobs and well-being for Dominican families; and, in general, greater growth of the national economy.
We are very excited about the Caribbean Trade Connectivity Initiative, a long-term initiative developed by the government of the Dominican Republic, coordinated by the MEPyD, MICM, CNC and ProDominicana, with the support of strategic allies such as Caribbean Export and the Central American Bank for Economic Integration (CABEI).
The main purpose of this initiative is to highlight the vast commercial potential that exists between the Dominican Republic and the Caribbean countries, consolidating our country as a strategic ally for international trade in the region. This initiative is aligned with our development and trade promotion plans, especially with the National Export Promotion Plan.
¿What are the expectations for the future of trade, business and business relations between the Dominican Republic, Jamaica and the Bahamas?
The Dominican Republic is at an unprecedented juncture in its relations with the Caribbean, and expectations for the future of trade relations between the Dominican Republic, Jamaica and the Bahamas are particularly promising. There is great potential for growth and better utilization of the facilities provided by the free trade agreement with CARICOM. Both Jamaica and the Bahamas represent markets with potential for expansion that are being increasingly explored by entrepreneurs, who have begun to identify this potential and see these markets as key strategic partners.
In the case of Jamaica, we have taken firm steps to increase and strengthen our trade relations. Jamaica has become our second most important trading partner in the Caribbean. The sustained growth in trade flow between the two countries since 2021 benefits not only the Dominican Republic, but also Jamaica, which has experienced a significant increase in its trade with our country in the last year.
As for the Bahamas, the appointment of a Dominican ambassador to the Bahamas marks a crucial step in our bilateral relations. Both governments are committed to deepening these ties, and the commercial expectations are very promising.
It is essential that Dominican entrepreneurs see in these neighboring nations privileged opportunities to expand their businesses, both in exports and investments. Several successful examples already exist, with Dominican companies successfully investing in Jamaica, and new investments are expected in countries such as Guyana and others in the Caribbean.
¿What message would you like to convey to Jamaican and Bahamian businessmen and leaders who are interested in investing in the Dominican Republic?
To Jamaican and Bahamian businessmen and leaders interested in investing in the Dominican Republic, we extend a cordial invitation to explore the abundant opportunities our country has to offer. The Dominican Republic stands ready to welcome your investments with open arms, backed by laws and systems designed to protect and enhance your business.
With a favorable environment for foreign investment, we provide stability and strategic business sectors that position us as a leading economy in the Latin American and Caribbean region. In addition, we offer considerable incentives that make the Dominican Republic a highly attractive destination for those seeking to expand their operations.
We encourage you to explore these opportunities and to be part of a fruitful collaboration that not only benefits your companies, but also contributes to the mutual growth and development of our countries.
For Luis Abinader, strengthening leadership in trade relations with valued partners in Jamaica and the Bahamas is of vital importance. His government has strongly promoted the strengthening of trade relations in the Caribbean, taking advantage of the geographic proximity between the countries to achieve shared socioeconomic growth and development.
"Our strategy is focused on promoting commercial exchanges that generate joint regional growth in economic, commercial and social terms. We already occupy a prominent position in regional leadership, and we seek to expand the presence of our goods and services, not only in Jamaica and the Bahamas, but throughout the region. We aspire to become a model of economic development for the Caribbean," says President Luis Abinader.
Concrete actions have been implemented, such as the National Export Promotion Plan, the Modern Services Export Strategy, the Caribbean Trade Connectivity Initiative and the National Competitiveness Strategy. These instruments support the expansion of Dominican products abroad, contributing to the sustainable economic growth that the country has been experiencing in recent decades.
In the cumulative period through October 2023, trade between the Dominican Republic, Jamaica and the Bahamas amounted to US$578.6 million. In 2022, a significant increase of 36% over 2021 was observed.
The geographical proximity and excellent relations between the countries are the solid basis for an expanded trade exchange. Export potential for Dominican producers is estimated at more than US$50 million, which will benefit both nations.
"Our immediate goal is to boost our commercial dynamism and take advantage of the tenacity and business competitiveness that characterizes our nation. As a government, we are focused on becoming one of the main suppliers of goods and services to Jamaica and the Bahamas, diversifying our export offer and strengthening our bilateral relations", said the President of the Dominican Republic.
He also notes that they are actively exploring the possibility of increasing trade flows and bilateral relations, as part of a broader strategy to diversify the exportable supply. "We seek to create conditions that make our economy more resilient to fluctuations in international trade," he adds.
¿From the commercial vision with the region, what are the main challenges facing the Dominican Republic in the business and entrepreneurial sphere?
Some of the main challenges are transportation costs, the need for greater international participation through participation in events and trade missions, the opening of new markets and, within the framework of regional collaboration, we recognize the importance of sharing key information on consumer preferences and trade regulations, for which we have enabled various platforms with updated technical information, such as the Requirements for Access to International Markets (RAMI) tool, which facilitates exporters to insert their products competitively in Caribbean markets.
¿What are the most promising business opportunities between the Dominican Republic and countries in the region?
We focus on strategic sectors that offer significant potential for expanding our export offer and boosting trade.
In the agricultural sector, we have great potential in products such as bananas, cocoa and avocados, and we are consolidating our position as reliable suppliers in the regional market, committed to eliminating export barriers, as evidenced by the recent approval for our avocado to access the Jamaican market.
In the agro-industrial sector, we have processed juices, rum and soybean oil, diversifying our offer with a higher added value in these products to meet the changing demands of the Caribbean market.
In the construction sector, we offer products such as cement, iron bars and blocks. In the industrial sector, we are seeing growing demand for medical instruments and devices, jewelry, and electrical circuit breakers in the region. We are ready to meet these needs with quality products and promote joint industrial development.
In addition to these sectors, the Dominican Republic offers investment opportunities in key areas such as renewable energy, infrastructure, real estate, mining and technology.
Against this backdrop, we consider it essential to establish cooperation agreements that strengthen the ties between our territories, generating sustainable development flows.
¿What are the specific strategies that the government is implementing to boost business success in the Dominican Republic with a view to consolidating the country as a regional leader?
Our actions are aimed at strengthening trade relations, taking advantage of tariff preferences and negotiating new opportunities for bilateral cooperation. Some of the key strategies are:
Coordination with ProDominicana and Diplomatic Corps: through the Dominican Republic Export and Investment Center (ProDominicana) and our diplomatic corps, we have coordinated efforts with key trade partners in the Caribbean, such as Jamaica, Bahamas, Trinidad and Tobago, Puerto Rico and Guyana. This includes taking advantage of tariff preferences and exploring new opportunities for cooperation.
Promotional initiatives: We have engaged in various government initiatives to foster business success, such as the "Dominican Week" in Jamaica, participation in the Caribbean Investment Forum 2023 in the Bahamas, and strategic business rounds in Latin America and the Caribbean.
Business and Presidential Missions: We have carried out business and presidential missions to strategic destinations, such as the first business mission for the reactivation of meat exports to the United States, the visit to the Cooperative Republic of Guyana, and the reception of official and business delegations from Latin American and Caribbean countries.
Elimination of Bureaucratic Barriers: we have formalized a plan for the elimination of bureaucratic barriers that may hinder business in the country, seeking to facilitate the business environment.
Democratic Stability and Economic Growth: we maintain democratic stability and economic growth as fundamental pillars, supported by the Public Procurement Compliance Program and the General Plan for the Reform and Modernization of the Public Administration.
Laws and Strategic Alliances: we have enacted the Law for Regulatory Improvement and Simplification of Procedures, and we actively promote Public-Private Alliances to stimulate investment and development.
Caribbean Trade Connectivity Initiative: we coordinated with the MEPyD, MICM, CNC, ProDominicana, Caribbean Export and CABEI the Caribbean Trade Connectivity Initiative. We seek to expand our efforts to promote the Caribbean as a strategic market and to publicize the mechanisms in favor of Dominican exporters.
These efforts reflect the successful integration of the public and private sectors to collectively improve our country and promote the logistics sector as a new dynamic engine of the Dominican economy.
¿How do these strategies translate into concrete opportunities for Dominican companies in the international marketplace?
Thanks to public-private initiatives and bilateral agreements, local companies can consider the region as a strategic market for expansion, positioning the Dominican Republic as a benchmark and attractive destination for other companies in the region.
Collaboration and assistance between public institutions and consular bodies provide companies with access to strategic information on consumer behavior and trends in each Caribbean country. This information is essential for designing strategies that take advantage of new opportunities and allow the introduction of competitive offerings.
In this context, the integration of market intelligence becomes a key tool for adequate market access and monitoring. This includes negotiation with potential buyers and the development of innovative and high quality elements. These practices strengthen the competitiveness of Dominican exports in the Caribbean region.
With the information obtained, companies can design strategies that allow them to penetrate new markets and stand out for their innovation and quality. The basis for the high competitiveness of Dominican exports in the Caribbean lies in the ability to adapt to consumer preferences and offer products and services that meet their needs.
¿What is the importance of innovation and technology in business growth, especially in key industries for the Dominican Republic?
Since the beginning of our administration, we have promoted the idea that in a globalized world and in constant technological change, companies must be at the forefront to take advantage of opportunities in international markets.
Digital transformation is essential to achieve a leading position in international markets. We recognize that the development of technologies and their application in companies depends largely on human talent. Digital transformation not only positions products in international markets, but also seeks to improve the quality of life of Dominicans and create conditions conducive to the development of world-class human resources.
Our push for an Innovation Strategy, the Artificial Intelligence Strategy and the Competitiveness Strategy, along with facilities for English language learning and the expansion of scholarships for study abroad, reflect our state commitment to provide businesses with the key human capital necessary for innovation and competitiveness. We firmly believe that innovation and technology are essential drivers of sustainable growth in the Dominican Republic.
¿What is your government's vision on corporate sustainability and how is it reflected in the policies for promoting international business?
We have a clear vision on business sustainability, which is based on recognizing our entrepreneurs as true engines of growth. We understand that they are value creators in the production of goods and services, generators of jobs and fundamental contributors to the fiscal strengthening of our State.
For this reason, we have implemented policies that promote competitiveness through the optimization of processes and the incorporation of new technologies to reduce costs. We believe in the crucial role of companies in the development of the country, not only as generators of wealth, but also as drivers of improvements in the quality of education and the supply of essential services.
In the international arena, our government institutions, especially ProDominicana, act as trade facilitators and follow the National Export Promotion Plan. We seek to create an enabling environment for research and development initiatives throughout the country, working together with the private sector and academia.
Among the strategic measures we have identified in the National Export Promotion Plan, we highlight support for research, innovation and development of new goods and services, the promotion of biotechnological activities and support for the adaptation of crops to climate change.
¿What incentives does the Dominican Republic offer to attract foreign investors and promote investment in the region? What sectors do you consider to be priorities?
In the Dominican Republic, we offer an attractive, stable and reliable business environment for foreign investors, consolidating our position as the main destination for foreign investment in Central America and the Caribbean. We have attracted investments from more than fifty-five countries, evidencing confidence in our expanding economy, with a growth of 4.9% in 2022.
In 2022, Foreign Direct Investment (FDI) reached $4.01 billion, marking an all-time record and an increase of 25.5% compared to 2021. This performance reflects the political and economic stability, the favorable legal framework, and the constant improvement of our infrastructure. These factors combined position the Dominican Republic as a reliable and attractive destination for business.
We have modern legislation for Public-Private Partnerships, backed by a General Directorate dedicated to structuring, promoting and regulating these alliances.
We offer an extensive framework of benefits and tax exemptions for companies seeking opportunities in various economic sectors. We have Free Trade Zones, Special Border Development Zone and qualified industries through PROINDUSTRIA. In addition, special legislation supports strategic sectors such as textiles, the film industry, and renewable energies, where we are regional leaders.
We stand out in tourism, recognized worldwide for our rapid post-pandemic recovery and for being the destination with the best international tourism performance on two consecutive occasions. We are committed to remaining the best option for those seeking to carry out investment projects in our vibrant economy.
¿In terms of positioning the DR in the Caribbean, are there any long-term projects or initiatives that you are particularly excited about?
The goal of becoming a regional HUB represents a vision that should generate a lot of enthusiasm, as it aligns our country with sustainable growth and development. This project will not only have an impact on the modernization of our institutions related to international trade, but will also have a positive impact on local industry, our transportation and communication infrastructure, and, obviously, on the strengthening of the export culture. Consequently, this means generating greater wealth, more jobs and well-being for Dominican families; and, in general, greater growth of the national economy.
We are very excited about the Caribbean Trade Connectivity Initiative, a long-term initiative developed by the government of the Dominican Republic, coordinated by the MEPyD, MICM, CNC and ProDominicana, with the support of strategic allies such as Caribbean Export and the Central American Bank for Economic Integration (CABEI).
The main purpose of this initiative is to highlight the vast commercial potential that exists between the Dominican Republic and the Caribbean countries, consolidating our country as a strategic ally for international trade in the region. This initiative is aligned with our development and trade promotion plans, especially with the National Export Promotion Plan.
¿What are the expectations for the future of trade, business and business relations between the Dominican Republic, Jamaica and the Bahamas?
The Dominican Republic is at an unprecedented juncture in its relations with the Caribbean, and expectations for the future of trade relations between the Dominican Republic, Jamaica and the Bahamas are particularly promising. There is great potential for growth and better utilization of the facilities provided by the free trade agreement with CARICOM. Both Jamaica and the Bahamas represent markets with potential for expansion that are being increasingly explored by entrepreneurs, who have begun to identify this potential and see these markets as key strategic partners.
In the case of Jamaica, we have taken firm steps to increase and strengthen our trade relations. Jamaica has become our second most important trading partner in the Caribbean. The sustained growth in trade flow between the two countries since 2021 benefits not only the Dominican Republic, but also Jamaica, which has experienced a significant increase in its trade with our country in the last year.
As for the Bahamas, the appointment of a Dominican ambassador to the Bahamas marks a crucial step in our bilateral relations. Both governments are committed to deepening these ties, and the commercial expectations are very promising.
It is essential that Dominican entrepreneurs see in these neighboring nations privileged opportunities to expand their businesses, both in exports and investments. Several successful examples already exist, with Dominican companies successfully investing in Jamaica, and new investments are expected in countries such as Guyana and others in the Caribbean.
¿What message would you like to convey to Jamaican and Bahamian businessmen and leaders who are interested in investing in the Dominican Republic?
To Jamaican and Bahamian businessmen and leaders interested in investing in the Dominican Republic, we extend a cordial invitation to explore the abundant opportunities our country has to offer. The Dominican Republic stands ready to welcome your investments with open arms, backed by laws and systems designed to protect and enhance your business.
With a favorable environment for foreign investment, we provide stability and strategic business sectors that position us as a leading economy in the Latin American and Caribbean region. In addition, we offer considerable incentives that make the Dominican Republic a highly attractive destination for those seeking to expand their operations.
We encourage you to explore these opportunities and to be part of a fruitful collaboration that not only benefits your companies, but also contributes to the mutual growth and development of our countries.
