By Fátima Romero
Foreign direct investment (FDI) in the Dominican Republic reached a record US$4.010 billion in 2022, representing an increase of 25.5% compared to the previous year.
The data, provided by the Dominican Republic Export and Investment Center (ProDominicana) based on figures from the Central Bank (BCRD), mark the largest FDI inflow in the Caribbean country’s history.
The tourism sector attracted the largest amount of FDI last year, reaching US$1.753 billion, another record figure, according to reports.
The country received 7.2 million tourists in 2022, surpassing pre-pandemic values.
The energy sector followed with US$475.2 million, while commerce and industry received a total of US$599.5 million.
To a lesser extent, telecommunications (US$192 million), the financial sector (US$169 million), and transportation (US$62 million).
The growth “indicates that the country is in the sights of foreign investors thanks to the promoted social, legal, political, and economic stability policies,” said Biviena Riveiro, director of ProDominicana.
By origin, the United States was the main investor in the Dominican Republic with US$1.521 billion; followed by Mexico with US$394.4 million; Canada with US$366.2 million; and Spain with US$346.5 million.
The Dominican Republic is a market of more than 11.2 million consumers.
It has six trade agreements and the benefits of the Generalized System of Preferences (GSP), which provides preferential access to 55 countries.
With information from Bloomberg
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