Dominican Republic seeks to attract British investors

The Dominican Republic seeks to strengthen trade relations with the United Kingdom and attract British investors.

As part of the celebration of the IX Dominican Week in London, the Directorate General of Customs (DGA) presented to British investors and business people the competencies, the conditions that the Caribbean country has, and the advances in the logistics system.

The Deputy Director of Technology of the DGA, Daniel Peña, pointed out that the Dominican Republic’s customs have made great progress in facilitating trade, including the 24-Hour Clearance, the Customs Law and the new Online Services Platform, part of the “Zero Bureaucracy” program.

These measures seek to turn the Dominican Republic into the region’s logistics hub.

In addition to the advances, Peña pointed out that the country’s geographical location “is perfect for international corporations seeking easy access to both North and South America, especially the United States”.

He indicated that investors could take advantage of the facilities and benefits that the country offers for business, such as sustained economic growth and political stability; tax incentive regimes favorable to foreign investment; modern network infrastructure; bilateral and multilateral trade agreements; more than 12 incentive laws and tax exemptions; connectivity with 12 seaports and 8 international airports; comprehensive logistics service, among others.

Jeremy Browne, executive director of Canning House, expressed that the Dominican Republic is an overlooked country in the region by those unaware of all it has to offer.

“It is the largest economy in the Caribbean and the seventh largest in Latin America. It has a substantial and well-organized economy, with many opportunities for trade and foreign investment.

“It has been a pleasure for us to participate in this bilateral cooperation project, and we look forward to continuing to strengthen our relations,” said Browne.

Dominican Week is an annual event that seeks to diversify trade and investment flow between the United Kingdom and the Dominican Republic.

The agenda of activities includes “A bet on the creative economy: The Dominican strategy” by the Minister of Industry, Commerce and Mipymes, Víctor Bisonó; “Exporting and investing: Why the Dominican Republic has it all” by the director of ProDominicana, Biviana Riveiro; “How the DR is leading education and public policies in Esports in the region” by congressman Orlando Jorge Villegas.

With information from Bloomberg