Why Dominican Republic
The Dominican Republic offers multiple business and investment opportunities as a result of a variety of factors, such as its unique geographical location, current legal framework, economic stability, and infrastructure.
Its location, in the center of the Caribbean, allows it to access the North, South, and Central American markets with relative ease, as well as to serve as a bridge between those markets and Europe to trade goods and services.
The country’s legal system constitutes another incentive for investment. The Dominican economy has experienced a continuous process of regulatory modernization, which has led to the adoption of a variety of measures aimed at opening and commercially integrating the economy into the international markets. Having recognized that the Dominican market depends on international economic integration, the Dominican government has opted to create a solid legal foundation that allows for sustained economic stability and growth as well as assures freedom and security to the economy’s different participants when commercializing goods and services.
Additionally, the Dominican Republic has a widespread, developed and growing physical infrastructure adjusted to the requirements of a society focused on the production and commercialization of goods and services. The Dominican roadways are among the best in the region, connecting practically all areas of the country. The country has modern, broad, and efficient airport and port systems formed by eight international airports and fourteen significant seaports located close to key production centers. Also, the Dominican Republic’s modern telecommunications system is one of the country’s main competitive advantages.
POLITICAL AND ECONOMIC SITUATION
The Dominican Republic is a representative democracy and has celebrated elections with direct and anonymous votes continuously since 1966. Current political leadership shows the intention to develop a sustainable economic project, open to the world, with a transparent and stable juridical system which fosters general competition and combines public sector responsibility with a strong alliance with the private sector.
The Dominican economy has two clearly differentiated and essential aspects: the external side of the economy, with its main growth factors found in tourism and industrial free zones; and, on the other hand, the domestic economy, which has various dynamic sectors contributing to its overall growth, which are communications, construction, electricity, commerce, and transportation.
During the last few years, the Dominican Republic has had an enviable macroeconomic stability, evidenced in the progressive growth of its economy and its uniform and healthy exchange rate and rate of inflation.
Foreign Direct Investment (FDI) and the Center for Export and Investment of the Dominican Republic (CEI-RD)
The Dominican Republic and its government have a high priority on promoting direct foreign investment in the interest of promoting further integration of the country's competitiveness in international markets, promoting Dominican Republic as a safe destination by working together with the Center for Export and Investment of the Dominican Republic (CEI-RD).
The CEI-RD is an institution founded in 2003 and is a merger of two (2) organizations representing the National Interest: The Dominican Center for Export Promotion (CEDOPEX) and the Office for the Promotion of Foreign Investment (OPI-RD), resulting in the creation of the Export and Investment Center of the Dominican Republic (CEI-RD), under the Law No.98-03 of June 17, 2003.
On behalf of the New Business Management and supported by corporate services platform (technical and administrative), the CEI-RD promotes and encourages foreign investment in the Dominican Republic in its many forms, optimizing available resources to provide services to our clients and associates in the shortest time possible.
CEI-RD guides investors throughout the investment process in order to facilitate their decision to invest, providing a range of supported, confidential, comprehensive and free services, personalized assistance and aftercare service once installed in the country.
This high-level team is responsible for defining the types of investment priorities and relevant to achieve the desired benefits, focusing on creating conditions to attract investment beyond markets and/or natural resources, based on institutions responsible for entrepreneurship promotion and explicit actions for achieving the objectives.
The Dominican Republic has created a number of attractions that promotes international markets to increase the flow of Foreign Direct Investment (FDI):
• Political and economic stability
• A good legal framework for foreign investment
• Preferential market access to the United States, Europe, Central America and the Caribbean
• We are one of only six countries with free trade agreements with both U.S. and the European Union
• Bilingual, competitive, experienced and qualified workforce
• The Dominican Republic is the 2nd country with the best transportation infrastructure in the region of Latin America and the Caribbean.
• Reliable advanced telecommunications infrastructure
• Competitive costs
• Proximity to U.S. market
• Our country is the largest recipient of Foreign Direct Investment in the Caribbean, with 52.17% of the total investment in the region.
The One-Stop Investment (VUI)
Created by Decree No. 626-12 dated November 10, 2012, conceived in the interest of enabling the provision of services and formalities necessary for any kind of investment in the country.
This office operates in the premises of the Center for Export and Investment of the Dominican Republic (CEI-RD), supervised by the Ministry of the Presidency.
The VUI is successful in creating personal and virtual care and attention to investors, leading to the following accomplishments:
• Reduce physical presence of investors in others institutions.
• Enable transparency and clarify proceeding steps for any
• process, to simplify and create an efficiency program or service when treating an investment.
• Minimize physical issuance of permits and licenses, reducing paperwork costs.
• Structuring an efficient public administration, acting with ethics and transparency, aimed at obtaining results, service of citizenship, and national development.
• Develop a regulatory environment that ensures a pro-competitive business investment climate. An articulated economy, innovative and sustainable production structure that generates high and sustained growth with decent jobs, and that inserts competitively in the global economy.