Opportunities in Main Industries

Public Bids

With the enactment of two laws on public procurement in 2006, one of the main markets of the country was opened to the general public, including foreign firms.

Construction

Dominican building codes and regulations have requirements for plotting cities, and neighborhoods, the regulate buildings construction, construction safety and public ornamentation. The professional and technical personnel operating in the sector is also regulated. The regulatory body is the Ministry of Public Works and Communications (MOPC), to which is attached the Directorate General of Standards, Regulations and Systems.

Ports

Maritime transport plays a very important role in the Dominican trade, with about 90% of goods entering and leaving the country by sea.

Aviation

The domestic aviation sector is the largest in the region, especially in view of the renewed commitment of the authorities to gradually increase the flow of tourists to the island. As such, the country boasts a modern civil aviation law, which since 2014, admits the offer of civil aviation services even for companies with 100% foreign capital if they constitute a domicile in the country.
 

Electricity and Energy

The electricity market in the Dominican Republic consists of three state distribution companies, a state transmission company and tens of generators, ranging from private to semi-public and public. Each company can focus exclusively on one of the abovementioned three activities except distributors, which may have a stake of up to 15% in power generators.

Mining

Traditionally, mining has been an important activity in the Dominican Republic, which has exported gold, nickel, marble, limestone, granite and semiprecious stones. The importance of mineral resources of the country, in addition to advanced technical requirements for mining concessions has made this one of the most interesting investment sectors. The supervisory body is the Ministry of Energy and Mines, created in 2014.

 

Agriculture

The Dominican Republic is the largest exporter of agricultural products and livestock in the region. While the industry is constantly surpassed by manufacturing and services, with the benefits of DR-CAFTA and other trade agreements, placement possibilities for Dominican products around the world have increased substantially over the past 10 years. The sector is attractive for investment to the extent it is protected by the government through tax incentive policies, zero tariffs for importation of machinery and soft loans from the Agricultural Bank, a government entity.
 

Tourism

Because of the country’s natural resources, climate, cultural diversity and historical interest along with its accessibility and political stability, the Dominican Republic is at present the island with the greatest tourist influx in the Caribbean.

Free Zones

Free zones are geographical areas within the Dominican Republic that are subject to special fiscal and customs regimes, within which companies dedicated to the production of goods or provision of services exclusively for the international market are located. The Free Zone system in the Dominican Republic is one of the most advanced in the world and the free zones are the source of 71% of the products exported by the Dominica Republic, besides being the main recipients of foreign direct investment in the country.

Insurance

The insurance industry is also of ample importance to the national economy. To operate an insurance company, you must obtain permission from the Superintendence of Insurance (regulatory body of the sector, but hierarchically located under the Ministry of Finance), responsible for supervising the operations of insurance institutions, reinsurance companies, brokers and adjusters.

Banking

As previously discussed, the current banking regulation allows the operation of different types of entities within the financial system such as: Multiple Banks, Credit Entities, Savings and Loan Associations, and Savings and Credit Institutions. The law opens up the financial industry by granting equal treatment to foreign financial intermediaries with local institutions, establishing the parameters for their ability to operate in the Dominican Republic.

Telecommunications

During the last decades, the telecommunications sector has been one of the most dynamic sectors of the Dominican economy. The General Telecommunications Law provides the framework for a modernized telecommunications industry, adapting it to the parameters established by international organizations such as the World Trade Organization (WTO) and the International Union for Telecommunications (UIT). Dominican law is complemented by a constant work lNDOTEL, regulatory body of the sector, in the development of regulations which are subject to prior consultation with industry players.

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